Authority: Supreme Court of India, Court No.12 Section XVI-A, Item No.7

Order Date: 07-10-2026

Case Overview

  • Petition: Transfer Petition(s) (Criminal) No(s). 38‑39/2026 filed by Jayachandran Swarnamoorthy against Kotak Mahindra Bank Ltd & Anr.
  • Interim Application No. 14966/2026 – Ex‑Parte Stay was pending.
  • Hearing held on 07‑10‑2026 before Hon'ble Mr. Justice Prashant Kumar Mishra and Hon'ble Mr. Justice Shree Chandrashekhar.
  • Counsel for petitioner comprised Mr. C.r. Jaya Sukin and others; counsel for respondent included Ms. Radhika Gupta and Mr. Saket Verma.
  • Upon request of counsel, the Court directed referral to the Supreme Court Mediation Centre to explore an amicable settlement.
  • The Court ordered the parties to appear before the Mediator on 16‑10‑2026 at 11:00 a.m.; the first interaction shall be virtual, with subsequent sessions either physical or virtual as directed by the Mediator.
  • A mediation report is to be submitted by 18‑01‑2027.
  • The Court stayed the following related proceedings pending the mediation:
  • C.S/60649/2025 titled "KOTAK MAHINDRA BANK LTD Vs. JAYACHANDRAN SWARNAMOORTHY" before the VII Judicial Magistrate Court, Calcutta, West Bengal.
  • C.C. No.329095/2025 titled "KOTAK MAHINDRA BANK LTD Vs. JAYACHANDRAN SWARNAMOORTHY" before the XV Additional Chief Judicial Magistrate, Ahmedabad, Gujarat.
  • The parties are directed to file a counter‑affidavit within four weeks of this order.

Final Outcome

  • The dispute is referred to the Supreme Court Mediation Centre; mediation scheduled for 16 Oct 2026, with a report due by 18 Jan 2027.
  • All pending lower‑court criminal proceedings against the petitioner are stayed until the mediation process concludes.
  • Counter‑affidavit filing deadline set at four weeks from the order date.

Topics: Mediation, Bank Litigation, Court Proceedings