Contempt pleas against RBI Guv Shaktikanta Das, bank forum chief, others filed in Supreme Court

Contempt pleas against RBI Guv Shaktikanta Das, bank forum chief, others filed in Supreme Court

A number of petitions have been filed before the Supreme Court seeking to initiate contempt of court proceedings against Reserve Bank of India (RBI) Governor Shaktikanta Das, Indian Banks Association (IBA) Chief Executive and others for allegedly flouting the apex court’s earlier order, by declaring the account of the petitioners as Non Performing Assets (NPA) in connection with the moratorium matter.

According to a report by news agency ANI, petitioners M/s Azeez Trading Company, Umrazz Trading Corporation, Ajay Hotel and Restaurant, Latur, Maharashtra, have filed a plea through lawyer Vishal Tiwari and Advocate on Record (AOR) Abhigya.

The respondents, RBI Governor Das and IBA chief executive, among others were duty-bound to promulgate and ensure compliance of SC’s order across the country but they deliberately did not, the petition claims.

The news report cites Tiwari as saying that SC’s September 3, 2020 order was operational on all lending institutions/banks across India and was passed in favour of all borrowers’ accounts to grant relief from financial stress during the pandemic.

The petitioners have said that SC’s order was passed in the presence of counsels representing the respondents and that they were all aware of the stay. Additionally, the petition claims that the respondents’ “contemptuous act” had not only disobeyed the top court's order, but also caused severe irreparable damage and loss to the petitioners.

Several pleas have already been filed before the Supreme Court in the same case, the news report added.