IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Writ Petition No.439 of 2011 M/s Nimbus Knitwears (P) Ltd., Ludhiana Vs. State Bank of India, Stressed Assets Management Branch, Sector 17-A, Chandigarh & another. Present: Ms.Sangita Dhanda, Advocate, for the petitioner. ***** RANJIT SINGH, J. The petitioner-company has taken a loan from the respondent-bank. On account of some global slowdown recession, the petitioner-company suffered and could not strictly adhere to stiff financial covenants entered into with the respondent-bank. The petitioner has now made a prayer for re-structuring the loan. The grievance of the petitioner is that the respondent- bank has not taken any action to restruct the loan. The counsel would refer to the RBI guidelines to say that the Banks are under an obligation to restructure the loan, if so applied, and this has to be done within 90 days as per the RBI guidelines. The case of the petitioner for restructuring is still pending before the Bank. The guidelines issued by the RBI can not be considered mandatory in nature. This is a communication between the Bank and the RBI and this would not create any right in favour of the petitioner to pray for direction through writ petition. The petitioner- company may pursue its remedy with the Bank for restructuring or rescheduling the loan. No case for interference at this stage is made out as the matter is pending before the Bank. Dismissed. January 12, 2011 ( RANJIT SINGH ) ramesh JUDGE