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SUPREME COURT OF INDIA
ASHOK BHUSHAN, M.R. SHAH, JJ.
Vishal Tiwari – Petitioner
Versus
Union Of India & Ors. – Respondents
Writ Petition(s)(Civil) No(s). 541 of 2021
Decided On : 11-06-2021
| Table of Content |
|---|
| 1. petitioner seeks remedial measures for borrowers. (Para 1 , 2 , 3) |
| 2. petitioner's concerns on rbi circular inadequacy. (Para 4) |
| 3. court observes matters are policy-related. (Para 5 , 6) |
| 4. writ petition is disposed of without action. (Para 7 , 8) |
ORDER :
1. Heard Mr. Vishal Tiwari, the petitioner appearing in person.
2. By this petition, the petitioner has prayed to issue a writ of Mandamus or any other writ directing the respondents to take effective and remedial measures to redress and overcome the financial stress and hardship faced by the borrowers of the country during the second wave of Covid 19 and lockdown.
3. The petitioner has annexed the Circular of the Reserve Bank of India (RBI) dated 05.05.2021 (Annexure P3), by which the Reserve Bank of India has issued Resolution of Covid 19 related stress of Micro, Small and Medium Enterprises (MSMEs).
4. The petitioner appearing in person submits that the Circular does not sufficiently address the hardship of the borrowers.
5. Be that as it may, the financial relief and other measures are in the domain of the Government and essentially related to policy matter. The similar argument we have heard and decided in the Writ Petition (C) No. 825 of 2020 titled Gajendra Sharma v. Union of India & Anr.
6. We are, thus, of the view that no direction, as prayed in the writ petition, be passed. We, however, observe that all the issues, which are raised, are policy matters and it is for the Union of India and the Reserve Bank of India to consider and take appropriate decision.
7. The writ petition is disposed of.
8. Pending applications stand disposed of.
RBI notifications regarding moratorium are advisory and banks retain discretion on their implementation, thus petitioner's claim for extended moratorium was unfounded.
A writ petition is maintainable for enforcement of a public duty, even if it is not imposed by a statute, and the availability of an alternate remedy does not divest the High Court of its powers unde....
The RBI's circular provided broad guidelines, and the discretion to grant moratorium rested with lending institutions. Judicial interference in economic policy decisions was limited.
The main legal point established in the judgment is that the reliefs provided in the RBI circulars for Covid-19 related stress are intended for borrowers facing stress due to the economic fallout of ....
possession notice issued under Section 13(4) of the Act, 2002 against which the petitioner has efficacious/statutory remedy of preferring an application under Section 17 of the said Act before the De....
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