https://www.taxtmi.com/caselaws?id=392142 RBI prudential circulars on sale of financial assets were treated as advisory and policy-based, not as creating an enforceable mandate in favour of a borrower. The Court held that a borrower cannot seek mandamus to compel banks to assign debts to an asset reconstruction company or to execute an inter-creditor arrangement, because acceptance or rejection of such proposals remains within the banks' commercial and financial discretion. Allegations of arbitrariness and mala fides depended on disputed facts about restructuring failure and default, which were unsuitable for writ adjudication. Relief was therefore declined, and the banks' recovery stance was not quashed. en-us Mon, 03 Feb 2020 00:00:00 +0530 Wed, 12 Feb 2020 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392142 RBI prudential circulars on sale of financial assets were treated as advisory and policy-based, not as creating an enforceable mandate in favour of a borrower. The Court held that a borrower cannot seek mandamus to compel banks to assign debts to an asset reconstruction company or to execute an inter-creditor arrangement, because acceptance or rejection of such proposals remains within the banks' commercial and financial discretion. Allegations of arbitrariness and mala fides depended on disputed facts about restructuring failure and default, which were unsuitable for writ adjudication. Relief was therefore declined, and the banks' recovery stance was not quashed. Case-Laws Indian Laws Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392142