GKA Impex Pvt. Ltd. vs Reserve Bank of India

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

SATISH CHANDRA SHARMA, SUBRAMONIUM PRASAD
GKA Impex Pvt. Ltd. – Appellant
Versus
Reserve Bank of India – Respondent

Table of Content
1. aggrieved by dismissal of writ petition (Para 1 , 2)
2. details of the erroneous rtgs transaction (Para 3 , 4 , 5 , 6)
3. appellant seeks reversal and compliance by banks (Para 7 , 10)
4. trial court finds appellant at fault (Para 8 , 11 , 12)
5. expert body rulings on rtgs regulations (Para 14 , 20)
6. restrictions on jurisdiction under article 226 (Para 18 , 21)
7. appeal dismissal by high court (Para 23)

JUDGMENT

Satish Chandra Sharma, C.J. Aggrieved by the judgment dated 19.10.2022, passed by the learned Single Judge of this Court in W.P. (C). 4295/2018, whereby the learned Single Judge has dismissed the Writ Petition, the Appellant herein has filed the instant appeal.

2. Shorn of details, the facts leading to the instant appeal are that the Appellant herein has a current account with the Respondent No.2 herein/Oriental Bank of Commerce [now known as Punjab National Bank (hereinafter referred to as `the PNB')]. It is stated that the Appellant through its Director - Mr. Girish Chadha, wanted to transfer an amount of Rs. 15 Lakhs to one M/s JV Capital Services Pvt. Ltd. through Real Time Gross Settlement (hereinafter referred to as `the RTGS'). It is stated that the

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SATISH CHANDRA SHARMA, SUBRAMONIUM PRASADGKA Impex Pvt. Ltd. – AppellantVersusReserve Bank of India – Respondent

SATISH CHANDRA SHARMA, SUBRAMONIUM PRASAD
GKA Impex Pvt. Ltd. – Appellant
Versus
Reserve Bank of India – Respondent