• PIL in high court against RBI guidelines for one time settlement

Dear Lawyers,

Need to File a PIL in High Court , need your guidance and help.
As per Reserve bank of India guidelines stated for one time settlement in cooperative banks states that .
The following categories of loans will not be covered by the Scheme:
1. Cases of willful default, frauds and malfeasance.
2. Loans with tie-up arrangement for recovery (e.g. loans availed by salary earners).
3. Loans availed of or guaranteed by Directors or by close relatives of Directors or by firms / companies / institutions in which the Directors are interested or by ex-Directors of respective Urban Co-operative Banks.
4. Loans guaranteed by Government (including cases where Government guarantee has been invoked but not honored by the Government).
5.Loans due from Government Departments / Undertakings.
6. Loans under Government directed programs.
I hereby need to focus on point number 3. Where Rbi States that loans from director or ex director can’t be considered.
By the means of PIL just need to bring upon the things in highlight that why can’t Ex director be given OTS by the bank.
It can be done by setting up a team of experts by RBi , whether the defaulter is Willful or not , whether he did it knowingly to make loss or to take misuse of the directorship In his tenure . And if he is not found guilty why can’t he avail the OTS facility. After all ex director is also a member of Indian constitution.
Today we find many willful defaulters who avail OTS and get escaped from high interest and penalty just because a defaulter is ex director why he is punished even though he is not willful defaulter.
Business doing has so many ups and Downs in view to market , so just a business man who is merely ex director can’t be rejected for OTS just Saying that He was ex director .
Dear lawyers just want to bring this case to give your valuable opinion and want to file a PIL in Court. 
Kindly help me and guide me for the same.

Regards ,
Aditya Sarda
Asked 7 years ago in Constitutional Law

3 answers received in 30 minutes.

Lawyers are available now to answer your questions.

4 Answers

You can make representation to RBi that OTS should cover ex directors also wherein they are not involved in siphoning of funds of the company

2) in the vent RBI rejects your representation then consider filing PIL

Ajay Sethi
Advocate, Mumbai
95168 Answers
7604 Consultations

5.0 on 5.0

1. The objective is not doubt praise worthy and you must go ahead.

2. Howeevr to highlight this problem which ails the sector you will have to gather data in support of your case.

3. once the court is satisfied that your claim is duly supported by datas the court would surely take necessary steps.

Good luck.

Devajyoti Barman
Advocate, Kolkata
22917 Answers
497 Consultations

5.0 on 5.0

what are the reasons given by RBI for rejection of representation ?

2) filing PIL is the only remedy available to you

Ajay Sethi
Advocate, Mumbai
95168 Answers
7604 Consultations

5.0 on 5.0

1. Since the RBI has rejected the representation made to it the only remedy is to file a PIL,

but do not rush into doing so. Firstly collect complete date to support your PIL.

2. The courts are very strict now on frivolous PILs and are dismissing them with a heavy cost.

Ashish Davessar
Advocate, Jaipur
30763 Answers
972 Consultations

5.0 on 5.0

Ask a Lawyer

Get legal answers from lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer