Supama Trading Pvt. Ltd. And 2 ... vs Reserve Bank Of India And 2 Other
2022 Latest Caselaw 7177 Bom

                                                               85.5597.22-wpl.docx

         Digitally
                                 IN THE HIGH COURT OF JUDICATURE AT BOMBAY
TRUSHA
         signed by
         TRUSHA
         TUSHAR
                                     ORDINARY ORIGINAL CIVIL JURISDICTION
TUSHAR   MOHITE
MOHITE   Date:
         2022.07.29
         16:59:04
         +0530                        WRIT PETITION (L) NO.5597 OF 2022


                      Asuti Trading Pvt.Ltd. And Ors.             ..... Petitioners

                               Vs.

                      Reserve Bank of India and Ors.              ..... Respondents

                                                        WITH

                                      WRIT PETITION (L) NO.5940 OF 2022


                      Supama Trading Pvt.Ltd. And Ors.            ..... Petitioners

                               Vs.

                      Reserve Bank of India and Ors.              ..... Respondents


                                                        WITH

                                      WRIT PETITION (L) NO.8124 OF 2022


                      Imran Khan and Anr.                         ..... Petitioners

                               Vs.

                      Reserve Bank of India and Ors.              ..... Respondents


                      Mr. Devashish Godbole a/w. Ms. Sairuchita Choudhary, Ms. Padmaja
                      Malegaonkar,   Mr.    Mayuresh      Ingale   for  Petitioner  in
                      WPL/5597/2022, WPL/5940/2022, WPL/8124/2022.

                      Smt. P.H.Kantharia, GP for State

                      Mr. Bharat Murchandani, Mr. Kuldeep Patil h/b. Mr. Hiten


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                                                85.5597.22-wpl.docx

Veneaonkar for CBI.

Mr. Nishit Dhruva, Mr. Prakash Shinde, Ms. Niyati Merchant, Mr.
Yash Dhruva, Mr. Harsh Sheth i/b. MDP & Partners for R.2 Union
Bank of India in WPL/8124/2022.

Mr. Jamshed Ansari            for   R.2   in      WPL/5597/2022            and
WPL/5940/2022.


                          CORAM:     S.V. GANGAPURWALA &
                                     MADHAV J. JAMDAR, JJ.

                          DATED :    JULY 26, 2022

P.C.

1        We have heard the learned Senior Advocates for the

Petitioners, learned Senior Advocate for RBI and the learned

Advocates for the Respondents.

2 It is submitted by Mr.Dhond, learned Senior Advocate for the

Reserve Bank of India that the Apex Court is seized with the matter

arising out of the judgment of the Telangana High Court setting aside

the Circular of the Reserve Bank of India, impugned in the present

Petition. The learned Senior Advocate submits that the matter may

appear before the Apex Court on 24.08.2022.

3 Till the next date, the Banks may not take further precipitative

steps pursuant to the impugned Circular.

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4        It is made clear that dehors the Circular, the Banks may take

legal proceedings as may be permissible under the law. Wherever

FIRs are filed, the parties are at liberty to assail the same in

accordance with law. It is also made clear that the investigation, if

in progress, is not stalled.

5        Place these matters on 14.09.2022.



(MADHAV J. JAMDAR, J.)              (S.V. GANGAPURWALA, J.)




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