MOHANTY AND ASSOCIATES Vs. OFFICER ON SPECIAL DUTY

JUDGEMENT

(1.) By this writ petition, the petitioners have prayed, inter alia, to quash the punishment of blacklisting and allow them to continue as approved valuers.

(2.) Bereft of unnecessary details, the short facts of the case of the petitioners are that petitioner no.1 is a partnership firm registered under the Indian Partnership Act, 1932 and petitioner no.2 is the Managing Partner of the said firm.

(3.) Pursuant to issuance of notice, a counter affidavit has been filed by the opposite parties. The sum and substance of the case of the opposite parties is that the petitioners were empanelled as a valuer of the opposite parties. An agreement to that effect was entered into between the petitioners and the opposite parties, vide Annexure-A. The Indian Banks' Association reported the names of 25 valuers involved in the fraud. The Head Office Punjab National Bank, New Delhi circulated blacklisted valuers, wherein the name of the petitioners finds place along with others. In view of the same, the Circle Office of the Bank directed all the branches not to assign any valuation to the blacklisted valuers.