Supreme Court - Daily Orders
Dr. Subramanian Swamy vs Union Of India on 7 October, 2021
Bench: D.Y. Chandrachud, Vikram Nath, B.V. Nagarathna
1
ITEM NO.2 Court 4 (Video Conferencing) SECTION PIL-W
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Writ Petition(s)(Civil) No(s).178/2020
DR. SUBRAMANIAN SWAMY Petitioner(s)
VERSUS
UNION OF INDIA & ORS. Respondent(s)
(FOR ADMISSION and I.R. and IA No.12400/2020-PERMISSION TO APPEAR
AND ARGUE IN PERSON)
Date : 07-10-2021 This petition was called on for hearing today.
CORAM :
HON'BLE DR. JUSTICE D.Y. CHANDRACHUD
HON'BLE MR. JUSTICE VIKRAM NATH
HON'BLE MRS. JUSTICE B.V. NAGARATHNA
For Petitioner(s) Dr. Subramanian Swamy, in-Person
Dr. Roxna Subramanian Swamy
Mr. Yatinder Chaudhary, Adv.
Mr. M.R. Venkatesh, Adv.
Mr. Dilip Kumar, Adv.
Mr. Satya Sabharwal, Adv.
For Respondent(s)
UPON hearing the counsel the Court made the following
O R D E R
1 Invoking the jurisdiction of this Court under Article 32 of the Constitution, the petitioner seeks the following reliefs:
“a. Frame appropriate guidelines/directions to the respondents in order to effectively and transparently control the menace of ever rising Non Performing Assets;Signature Not Verified
b. Frame guidelines appropriate guidelines/directions to the Digitally signed by respondents with regard to grant of Loan Against Shares Sanjay Kumar Date: 2021.10.09 11:46:02 IST and for developing stringent regulation for the same;” Reason:
2 In support of the petition, Dr Subramanian Swamy submits that this Court may constitute an expert committee so that its inputs can form the basis of framing 2 guidelines to control Non-Performing Assets and to deal with the specific issue pertaining to the grant of loans against shares.
3 The reliefs bear upon core issues of policy which pertain to the domain of expert bodies, such as the Reserve Bank of India. The matter is not amenable to judicially manageable standards since the Court would have to travel into the policy domain.
4 At the same time, since the issue pertains to the functions of the Reserve Bank of India, we leave it open to the petitioner to either submit a representation or the petition itself as the basis of a representation before the Reserve Bank of India so that a considered view could be taken on whether any of the extant guidelines need to be duly modified to take into account the concerns which have been raised by the petitioner. We leave it open to the petitioner to do so. For the reasons indicated above, we are not inclined to take up the function sought to be entrusted by the petition.
4 The petition is accordingly disposed of in terms of the liberty as granted above. 5 Pending application, if any, stands disposed of.
(SANJAY KUMAR-I) (SAROJ KUMARI GAUR)
AR-CUM-PS COURT MASTER