Authority: High Court at Calcutta
Order Date: 18 September 2026
Case Overview
- Parties: Petitioner Ankit Poddar (counsel Suddhasatva Banerjee, Varun Kedia, Avee Jaiswal) versus Respondent No.1 Axis Bank Limited (counsel Sayak Ranjan Ganguly, Srijani Ghosh, Pujal Musahib) and Respondent No.3 (counsel Debabrata Das, A. Sarkar, Pratik Acharjee).
- The petitioner challenged an undated order by Axis Bank that classified his company as “fraud” without serving a show‑cause notice.
- Schedule II of the impugned order cited a show‑cause notice dated 21 March 2025, issued under the RBI Master Direction dated 15 July 2024, addressed to builder M/s Paramount Squire, but the notice was allegedly undelivered due to an incomplete address.
- The bank also referred to an internal order dated 14 May 2025, which was not served on the petitioner.
- On 15 September 2026 the Court directed the bank to demonstrate service of the notice; the bank admitted the notice was sent to the registered address and returned undelivered.
Final Outcome
- The Court held that Axis Bank issued the undated impugned order and the May 14 2025 order without serving a show‑cause notice or providing a hearing, and therefore set aside and quashed both orders.
- The bank may pursue any appropriate action against the petitioner only after granting a hearing opportunity.
- The writ petition (WPA 22190 of 2026) is disposed of, and all parties are instructed to download the certified copy of this order from the official website of the Court.
Topics: Banking Regulation, Legal Dispute