Kerala High Court M/S. M.D. Esthappan Infrastructure ... vs Reserve Bank Of India on 27 November, 2025 2025:KER:91345 W.A.No.2629 of 2025 1 PRESENT THE HONOURABLE MR. JUSTICE ANIL K. NARENDRAN & THE HONOURABLE MR. JUSTICE MURALEE KRISHNA S. THURSDAY, THE 27TH DAY OF NOVEMBER 2025/6TH AGRAHAYANA, 1947 W.A.NO.2629 OF 2025 AGAINST THE JUDGMENT DATED 17.10.2025 IN W.P.(C)NO.32541 OF 2025 OF THE HIGH COURT OF KERALA APPELLANTS/PETITIONERS: 1 M/S. M.D. ESTHAPPAN INFRASTRUCTURE PVT. LTD., REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE, MR. BIJI STEPEHEN HAVING ITS REGISTERED ADDRESS AT:144, RAILWAY STATION NAGAR, NEAR ST. JOSEPH HIGH SCHOOL, ANGAMALY, ERNAKULAM, PIN 683572 2 MR. M.D. ESTHAPPAN (DIED) AGED 89 YEARS MANAGING DIRECTOR OF M.S. M.D. ESTHAPPAN INFRASTRUCTURE PVT. LTD. 14/306, MOOLAN HOUSE, NH 47, NEAR ST. JOSEPH HIGH SCHOOL, ANGAMALY, ERNAKULAM, PIN 683572 3 JOSY STEPHEN, AGED 57 YEARS LEGAL HEIR OF 2ND APPELLANT, MR. M.D. ESTHAPPAN, (DIED), MANAGING DIRECTOR OF M.S. M.D. ESTHAPPAN INFRASTRUCTURE PVT. LTD. RESIDING AT 14/306, MOOLAN HOUSE, NH 47, NEAR ST. JOSEPH HIGH SCHOOL, ANGAMALY, ERNAKULAM, PIN 683572 4 BIJI STEPHEN, AGED 55 YEARS LEGAL HEIR OF 2ND APPELLANT, MR. M.D. ESTHAPPAN, (DIED), MANAGING DIRECTOR OF M.S. M.D. ESTHAPPAN INFRASTRUCTURE PVT. LTD. RESIDING AT 14/306, MOOLAN HOUSE, NH 47, NEAR ST. JOSEPH HIGH SCHOOL, ANGAMALY, ERNAKULAM, PIN 683572 BY ADVS. MATHEWS J. NEDUMPARA, SR. COUNSEL SMT. MARIA NEDUMPARA SHRI.SHAMEEM FAYIZ V.P. SHRI.ROY PALLIKOODAM 2025:KER:91345 W.A.No.2629 of 2025 2 RESPONDENTS/RESPONDENTS: 1 RESERVE BANK OF INDIA, REPRESENTED BY ITS GOVERNOR SHAHID BHAGAT SINGH ROAD, FORT, MUMBAI, PIN 400001 2 BOARD OF DIRECTORS OF DHANLAXMI BANK LTD., REPRESENTED BY ITS CEO & MANAGING DIRECTOR, REGISTERED OFFICE, DHANALAKSHMI BUILDINGS, P.B NO.9, NAICKANAL, THRISSUR, KERALA, PIN 680001 3 DHANLAXMI BANK LTD, REPRESENTED BY ITS CEO & MANAGING DHANALAKSHMI BUILDINGS, P.B. NO.9, NAICKANAL, THRISSUR, KERALA, PIN 680001 4 AUTHORISED OFFICER & CHIEF MANAGER, DHANLAXMI BANK LTD., REGIONAL OFFICE, DHANALAKSHMI BUILDINGS, 1ST FLOOR, MARINE DRIVE, KOCHI, KERALA, PIN 682031 5 MINISTRY OF MICRO SMALL AND MEDIUM ENTERPRISES, REPRESENTED BY ITS SECRETARY, UDYOG BHAWAN, RAFI MARG, NEW DELHI, PIN 110001 6 UNION OF INDIA, REPRESENTED BY ITS SECRETARY, DEPARTMENT OF FINANCIAL SERVICES, MINISTRY OF FINANCE, 3RD FLOOR, JEEVAN DEEP BUILDING, SANSAD MARG, NEW DELHI, PIN 110001 7 STATE OF KERALA, REPRESENTED BY ITS CHIEF SECRETARY, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM, PIN 695001 8 GENERAL MANAGER, DISTRICT INDUSTRIES CENTRE, KAKKANADU, ERNAKULAM, PIN 682030 9 CHAIRMAN, MICRO AND SMALL ENTERPRISE FACILITATION COUNCIL (MSEFC), DIRECTORATE OF INDUSTRIES COMMERCE, VIKAS BHAVAN P.O, THIRUVANANTHAPURAM, KERALA, PIN 695033 10 CHAIRMAN, STATE LEVEL INTERINSTITUTIONAL COMMITTEE, REGIONAL OFFICE, RESERVE BANK OF INDIA, BAKERY JUNCTION, P.B. NO. 6507, THIRUVANANTHAPURAM, PIN 695033 2025:KER:91345 W.A.No.2629 of 2025 3 11 GAIL (INDIA) LTD., REPRESENTED BY ITS GENERAL MANAGER, KINFRA HI TECH PARK, OFF HMT ROAD, HMT COLONY P.O., KALAMASSERY, ERNAKULAM, PIN 683503 12 BHARAT PETROLEUM CORPORATION LTD., REPRESENTED BY ITS MANAGING DIRECTOR, KOCHI REFINERY, AMBALAMUGAL, ERNAKULAM, PIN 682302 13 COCHIN SMART MISSION LTD., REPRESENTED BY ITS MANAGING DIRECTOR,10TH FLOOR, REVENUE TOWER, PARK AVENUE, ERNAK