The Bombay HC refused to issue a writ of mandamus under Art. 226 directing the RBI to take action on a DRT order forwarded to it, noting the RBI's supervisory discretion over the banking system.
Writ petition rejected; no direction issued to Reserve Bank of India.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
37-wp-5338-2022.doc
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Trupti
TRUPTI SADANAND BAMNE
Digitally signed by TRUPTI SADANAND BAMNE Date: 2023.03.24 11:48:38 +0530
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION NO. 5338 OF 2022
Finetech Trading Pvt. Ltd.
… Petitioner
vs.
Reserve Bank of India & Ors.
… Respondents
Mr. Ishaan Patkar with Mr. Durgesh G. Desai i/b. Alaksha Legal for the Petitioner.
Ms.Priya Nigwekar i/b. O.A.Das & Associates for Respondent No.3.
CORAM : NITIN JAMDAR & ABHAY AHUJA, JJ.
DATE : 20 MARCH 2023
P.C. :-
Heard the learned Counsel for the parties.
37-wp-5338-2022.doc
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of the order that has been sent. Therefore, what we have called upon to do to direct the Reserve Bank of India to take cognizance of the order passed by the DRT. This under Article 226 of the Constitution of India, we are not inclined to do. The Reserve Bank of India is vested with the duty of the supervision of banking system in the country. The DRT has forwarded its order to the Reserve Bank of India and it is for the Reserve Bank of India to take any action as it deem fit in the larger interest of the banking system or not.
ABHAY AHUJA, J.
NITIN JAMDAR, J.
2 issues framed by the court
Whether the High Court could direct the Reserve Bank of India to take cognizance of an order passed by the Debt Recovery Tribunal under Article 226?
Whether the DRT forwarded its order to the Reserve Bank of India required the RBI to take specific action?
1 provisions across 1 enactments
Finetech Trading Pvt. Ltd.
Reserve Bank of India
Nitin Jamdar
Abhay Ahuja
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
