The main legal point established in the judgment is that the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 is crucial in determining the status of IDBI Limited as a Government of India undertaking.

JUDGMENT :

1. The question that emerges for decision on this writ petition is, whether the Industrial Development Bank of India Limited (hereafter “IDBI Limited”, for short) can be regarded as an undertaking of the Government of India? If the answer is in the affirmative, the same would enure to the benefit of the petitioner, for, in such case, she can avail of the exception clause engrafted in paragraph 4.8.1 of the Medical Entrance Information Brochure pertaining to the National Eligibility and Entrance Test UG-2020 (hereafter “NEET 2020”, for short).

2. The petitioner, desirous of becoming a doctor, had participated in the NEET-2020. The Information Brochure for NEET-2020 provides that a candidate aspiring for admission in the MBBS course in the 85% State quota, reserved for Maharashtra candidates, is required to be a domicile of Maharashtra apart from having passed the 10th standard S.S.C. or equivalent examination and the 12th standard H.S.C. or equivalent examination from schools in Maharashtra. Admittedly, the petitioner is a domicile of Maharashtra and passed the 10th standard S.S.C. examination from a school in Maharashtra; however, she cleared the 12th standard H.S.C. examination after pursuing studies in the 11th and the 12th standards in a school in Telangana while residing with her father. Incidentally, the petitioner’s father is an employee of IDBI Limited who was posted in Telangana at the relevant point of time and has since been transferred and posted in Maharashtra with effect from November 19, 2020.

3. In support of the contention that IDBI Limited, in fact, is a Government of India undertaking, Shri Bapat, learned advocate appearing for the petitioner had on November 25, 2020 (when we considered the writ petition for the first time), placed heavy reliance on letters dated December 31, 2007 and December 17, 2019 of the Ministry of Finance, Government of India. The first of the aforesaid two letters conveyed to the Secretaries of all Ministries and/or departments of the Government of India the decision of the Ministry of Finance to treat IDBI Limited on par with Nationalized Banks/State Bank of India by Government Departments/Public Sector Undertakings/other entities for all purpose, including deposits/bonds/investments/guarantees etc. and Government business. By the other letter, which is of recent origin, the Ministry of Finance conveyed to the addressees that pursuant to the acquisition of stake in IDBI Limited by the Life Insurance Corporation of India (hereafter “LICI”, for short) to the extent of 51% of the share capital, and keeping in view the fact that LICI is wholly owned by the Government of India and also that the Government of India’s holding in IDBI is 46.46%, the direct and indirect Government holding in IDBI is 97.46%; hence, the Central/State Government/departments/agencies/ institutions may continue to consider IDBI Limited for grant of Government business.

4. On the aforesaid date, i.e., November 25, 2020, Shri Rodriques, learned advocate representing the respondent no.4, i.e., Competent Authority & Commissioner, State Common Entrance Cell, Government of Maharashtra, had brought to our notice a letter dated March 14, 2019 of the Reserve Bank of India (hereafter “RBI”, for short), whereby RBI categorized IDBI Limited as a “Private Sector Bank” and contended that IDBI Limited cannot be regarded as an undertaking of the Government of India.

5. In view of such letter, we required the assistance of Shri Anil Singh, learned Additional Solicitor General. He was requested to apprise us of the status of IDBI Limited in the light of the letters dated December 17, 2019 and March 14, 2019, referred to above. While adjourning hearing, we had directed that until further orders, one seat in the medical course may not be allotted to anybody.

6. The writ petition has been listed today for further consideration. Shri Singh has placed before us written instructions received by him from the Ministry of Finance. Copy