Balbir Singh Uppal vs Reserve Bank Of India And Ors.

Rajan Gupta, J

Due to prevailing situation of COVID-19, matter has been heard through Video Conferencing.

Notice of motion.

Grievance of the petitioner is that Circular dated 01.07.2016 updated on 30.07.2017 issued by Reserve Bank of India on “Master Directions on

Frauds- Classification and Reporting by commercial banks and selected financial institutions†being unconstitutional is ultra vires as there is no

provision of opportunity of hearing therein. He has prayed that a direction be issued to the respondents that no coercive steps be taken against the

petitioner without affording any opportunity of hearing.

Mr. Arvind Rajotia, Advocate has put in appearance on behalf of respondent No.2-PNB and accepts notice. At the outset, he has apprised the court

that on the complaint of PNB, an FIR has already been lodged against the petitioner with Central Bureau of Investigation. Investigation is in progress.

As regards allegations of fraud, we propose that an opportunity of hearing be afforded to the petitioner, if any coercive action is proposed to be taken

against him. Mr. Arvind Rajotia agrees to this proposal and submits that, in case, written representation is received from the petitioner, same shall be

looked into and an opportunity of hearing shall be provided to him before further action, if any, is required to be taken in terms of Circular, Annexure

P-1.

In view of the above, no further direction is necessary.

Disposed of.

Needless to observe that if the petitioner still has any grouse with regard to order, if any, passed on his representation, he would be at liberty to avail

appropriate remedy.