Jijamata Mahila Sahakari Bank Ltd. Through Varsha Madgulkar v. The Executive Director, Reserve Bank Of India And ANR

P-26-WP-10324-2016

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATTE JURISDICTION WRIT PETITION NO. 10324 OF 2016 Jijamata Mahila Sahakari Bank Ltd. Satara, Through its Chairman Varsha Kalyan Madgulkar

...Petitioner

vs.

The Executive Director, Reserve Bank of India and another

...Respondents

......

Mr. Priyal G. Sarda for the Petitioner.

Ms. Jyotsna Pandhi for Union of India.

......

CORAM : SHANTANU KEMKAR & MAKARAND KARNIK, JJ.

DATE :

OCTOBER 04, 2016 P.C.:

.

Not on board. Upon mentioning taken on board. 2.

With consent, heard and finally disposed of.

3.

The grievance of the petitioner is that, against the order dated 30th June 2016 (Exhibit "A") passed by the Executive Director, Reserve Bank of India, the petitioner has filed an Appeal (Exhibit "D") before the Appellate Authority, Government of India, Ministry of Finance, Department of Economic Affairs, Banking Division, New Vikrant Elgire 1/2

P-26-WP-10324-2016 Delhi alongwith an application for stay. However, since the authority is not functional, the stay application has not been considered and decided as yet. According to the learned counsel for the petitioner, for want of any orders on the stay application filed by the petitioner, the petitioner is suffering hardship.

4.

Keeping in view the fact that the petitioner has filed an appeal alongwith a stay application which has not been decided yet, we are inclined to dispose of this petition by directing the Appellate Authority to decide the petitioner's application for stay/appeal as expeditiously as possible. However, till the petitioner's application for stay filed in the appeal is decided, no coercive steps shall be taken against the petitioner in pursuance of the order dated 30th June 2016 (Exhibit "A").

5.

With the aforesaid directions, the petition is disposed of. (MAKARAND KARNIK, J.) (SHANTANU KEMKAR, J.) Vikrant Elgire 2/2