RAJIV SAHAI ENDLAW, J.
1. The Reserve Bank of India (RBI), from time to time, issued a number
of Circulars to Banks and Financial Institutions ... submission by Banks / Financial Institutions of data of
wilful defaulters to RBI on a quarterly basis and preparation of a list of
wilful defaulters
meanwhile, KPCL sought clarification from the Reserve Bank of
India (for short „RBI‟) with regard to the validity of Put Option Clause
incorporated ... Page 5 of 45
thereto RBI by letter dated 20.09.2013 informed KPCL to remove the Put
Option Clause in the agreement to be in conformity
HIAI required the prior permission of
the Reserve Bank of India (‗RBI') under the Foreign Exchange
Regulation Act, 1973 (‗FERA'). Though the Assessee ... applied for
grant of such permission on 24th March 2000, the RBI granted permission
only on 30th June 2000. The RBI directed the Assessee
Judge, on the application of Reserve Bank of India (hereinafter the complainant/RBI) under Section 446(1) of the Companies Act 1956 read with Rule ... Section 58C of the Reserve Bank of India Act 1934 (for short RBI Act ), against JVG Finance Limited (Respondent company) and directing the trial court
Reserve Bank of India
Act, 1934 or the directions of the RBI issued under the said Act could
not over ride the provisions of Income ... taken the view
that the provisions of Section 45Q of the RBI Act overriding the
provisions of the Income-Tax Act . The action
learned counsel agreed that if the winding up petition filed by the RBI succeeds, then the appeal filed by Rockland and all other petitions ... making it necessary to first deal with the petition filed by the RBI."
5. Thus, in view of the aforesaid prevailing even in these
July, 2013 of the Reserve Bank of India
(hereinafter referred to as ‗RBI').
Petitioner's submissions
2. Mr. Ramesh Singh, learned counsel ... institution as sub-standard, doubtful or loss
asset in accordance with the RBI guidelines relating to asset classification or
similar guidelines issued by banks / financial
This notice was
given in terms of the Master Circular of the RBI dated 01.07.2010.
21. The letters dated 01.03.2011 and 25.03.2011 were replied ... transform long term INR liability into a foreign
currency liability (RBI Circular dated 28.12.2010, Master
Circular dated 02.07.2010 and Comprehensive Guidelines on
Derivatives dated
banking
financial company (NBFC) recognised by the Reserve Bank
of India (RBI) and is stated to be engaged in the business of
providing loan facilities ... facts;
(p) that although the ED has alleged that regulators like the RBI
had expressed concern regarding the loans extended by RFL
vidé letters dated
Information Bureau (India) Limited (CIBIL) or to the Reserve Bank of
India (RBI). The petitioner thereafter applied for release of the security
deposited with ... there being a provision therefor in
the agreement is violative of the RBI guidelines;
(iv) that the RBI guidelines dated 25 th November
