Finetech Trading Pvt. Ltd. v. Reserve Bank Of India And 2 ORS.

TRUPTI SADANAND BAMNE Trupti 37-wp-5338-2022.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

by TRUPTI SADANAND BAMNE Date: 2023.03.24 11:48:38 +0530 ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO. 5338 OF 2022 Finetech Trading Pvt. Ltd.

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Petitioner vs.

Reserve Bank of India & Ors.

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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.

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CORAM : NITIN JAMDAR & ABHAY AHUJA, JJ.

DATE : 20 MARCH 2023 P.C. :- Heard the learned Counsel for the parties.

2.

The Debt Recovery Tribunal, while disposing of Securitisation Application No. 289 of 2016, has made certain observations in the order dated 26 September 2018 and the Registrar of the Tribunal was directed to send a copy of the order to the Governor, Reserve Bank of India for doing needful.

3.

The petition is filed for a writ of mandamus to direct the Reserve Bank of India to respond and take action in respect of a copy

Trupti 37-wp-5338-2022.doc 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. 4.

The writ petition is rejected.

ABHAY AHUJA, J.

NITIN JAMDAR, J.