On 14th October 2022, the Supreme Court of India in a Division Bench comprising of Justice Dr Dhananjaya Y Chandrachud and Justice Hima Kohli passed and order that all the writ petitions which have been filed before the High Courts 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. (Reserve Bank of India V. Big Kancheepuram Cooperative Town Bank Ltd & Anr etc)
Facts of the Case:
The Reserve Bank of India, petitioner herein, filed transfer petitions seeking a transfer of the writ petitions pending before various High Courts challenging the validity of the Banking Regulation (Amendment) Act 2020 (Act No 39 of 2020) and its circular bearing No DOR.GOV.REC.25/12.10.000/2021-22 dated 25 June 2021. Four writ petitions challenging the Amendment Act, eleven writ petitions challenging the circular dated 25th June 2021 and five writ petitions challenging the Amendment Act and the Circular are filed at various High Courts. The chart indicates, petitions are pending before the High Courts of Andhra Pradesh, Chhattisgarh, Karnataka, Kerala, Madhya Pradesh, Madras, Punjab and Haryana and Uttarakhand and before the High Court of Judicature at Allahabad, High Court of Judicature for Rajasthan and High Court of Judicature at Bombay.
Submissions of the Petitioner:
The senior counsel for the petitions has submitted a chart on the status of the writ petitions pending before various High Courts. The counsel for the petitions has sought a transfer of the writ petitions pending before various High Courts challenging the validity of the Banking Regulation (Amendment) Act 2020 (Act No 39 of 2020) and its circular dated 25 June 2021.
Order passed by the court:
The hon’ble court observed that “In some of the writ petitions before the High Courts, there is 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, it would be appropriate, in the interests of justice, to transfer all the writ petitions to one High Court for final disposal. We accordingly order and direct that all the writ petitions which have been filed before the High Courts 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. The petitions which are being presently transferred to the High Court of Madras have been set out in the chart which is attached to the present order. 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.”
The transfer petitions were disposed of and all the writ petitions were transferred to the High Court of Madras.
Case: Reserve Bank of India V. Big Kancheepuram Cooperative Town Bank Ltd & Anr etc
Citation: Transfer Petition (Civil) Nos 659-678 of 2022
Bench: Justice Dr Dhananjaya Y Chandrachud and Justice Hima Kohli
Date: October 14, 2022
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