SC trashes PIL filed against Jait­ley for ‘plun­der­ing’ RBI re­serves

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - DNA Cor­re­spon­dent cor­re­spon­[email protected]­dia.net Supreme Court Bench

You are not bring­ing hon­our to this in­sti­tu­tion by fil­ing such PILS. Why don’t you choose good is­sues in­stead of go­ing against in­di­vid­u­als.

New Delhi: The Supreme Court on Fri­day dis­missed a PIL with heavy cost that ac­cused Fi­nance Minister Arun Jait­ley of “plun­der­ing” the cap­i­tal re­serves with the Re­serve Bank of In­dia (RBI).

Junk­ing the PIL filed by lawyer Manohar Lal Sharma, the bench of Chief Jus­tice Ran­jan Go­goi and Jus­tice SK Kaul im­posed a cost of Rs 50,000 to be de­posited by Sharma in the SC Reg­istry. Till such time the deposit is made, the court barred the reg­istry from en­ter­tain­ing any fresh PIL by Sharma.

Af­ter tak­ing up the pe­ti­tion for hear­ing, the bench won­dered at first what el­e­ment of pub­lic in­ter­est was in­volved whereby Jait­ley was named, seek­ing or­ders to re­strain him from util­is­ing RBI’S cap­i­tal re­serves in the face of reser­va­tion ex­pressed by RBI Gover­nor.

Al­though Sharma of­fered to take down Jait­ley’s name, the bench heard Sharma for roughly a minute and said, “What is this that you have filed? The Fi­nance Minister of this coun­try will plun­der the cap­i­tal re­serves of the coun­try? You are not bring­ing hon­our to this in­sti­tu­tion by fil­ing such PILS. Why don’t you choose good is­sues in­stead of go­ing against in­di­vid­u­als?”

Sharma al­leged that the FM favoured waiv­ing loans of up to Rs 55,000 crore given by PSU banks to prom­i­nent cor­po­rate houses that have filled the cof­fers of po­lit­i­cal par­ties. At­tor­ney Gen­eral KK Venu­gopal told the Bench that the time has come to lay down bound­aries for en­ter­tain­ing PILS.

Fi­nance Minister Arun Jait­ley

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.