SC transfers to Madras HC all WPs challenging the Banking Regulation (Amendment) Act
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- Last Updated on 19 October, 2022
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Case Details: Reserve Bank of India Vs Big Kancheepuram Cooperative Town Bank Ltd & Anr etc - [2022] 143 taxmann.com 224 (SC), dated: 14.10.2022
Judiciary and Counsel Details
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- Dr. Dhananjaya Y Chandrachud & Hima Kohli, JJ.
Facts of the Case
In the instant case, the Reserve Bank of India (RBI) had requested the Supreme Court to transfer writ petitions before various High Courts challenging the validity of the Banking Regulation (Amendment) Act 2020 and its circular bearing No DOR.GOV.REC.25/12.10.000/2021-22 dated 25 June 2021.
The petitioner submitted that various petitions were pending before the various High Courts like Andhra Pradesh, Chhattisgarh, Karnataka, Kerala, Madhya Pradesh, Madras, Punjab and Haryana and others.
In some of the writ petitions before the High Courts, there was a challenge to the Amending Act; in some, a challenge to the validity of the circular, while, in others, a challenge to the Amending Act and the circular.
Having regard to the common questions which are involved in the writ petitions, the petitioner requested that it would be appropriate, in the interests of justice, to transfer all the writ petitions to one High Court for final disposal.
Therefore, the Supreme Court directed to transfer all the writ petitions to one High Court for final disposal. All the writ petitions which have been filed before the High Court’s challenging the validity of the Banking Regulation (Amendment) Act 2020 (Act No 39 of 2020) and/or the circular dated 25 June 2021 shall stand transferred to the High Court of Madras.
Supreme Court Held
Supreme Court requested Chief Justice of the High Court of Madras to assign all the writ petitions to one Bench for expeditious disposal. Also, SC founds that it would be appropriate if the Division Bench hearing the petitions permits such of the parties, who desire to appear through a virtual platform, to participate in the course of the hearing on that basis.
The Supreme Court also held that any future petitions challenging the validity of the Amending Act and/or the circular noted above, upon being instituted, shall be transferred immediately by the concerned High Court to the High Court of Madras in view of the above order.
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