K.S.RADHAKRISHNAN, AKIL KURESHI
Nirav Lalitbhai Shah – Appellant
Versus
Government Of Gujarat – Respondent
Akil Kureshi, J.
1. This petition styled as Public Interest Litigation has been filed by one Shri Lalit Shah seeking prayer for a direction to the Agriculture and Cooperation Department of the Government of Gujarat to formulate an appropriate scheme for repayment of money of the depositors by way of implementation of One Time Settlement(OTS for short) for the borrowers of the banks in liquidation in conformity with the guidelines of Reserve Bank of India(RBI for short).
2. The case of the petitioner is that he has made deposits with one Charotar Nagrik Sahkari Bank which is a cooperative bank which is under liquidation. RBI has issued guidelines vide communication dated 10.4.2006 to the Secretaries of the States for framing of scheme for OTS to be granted to the borrowers of the various Urban Cooperative Banks. It is also the case of the petitioner that though the State Government formulated a scheme for OTS, for cooperative banks operating in the State of Gujarat, in disregard to the said guidelines issued by RBI excluded from operation of such a scheme, those Cooperative Banks which had gone under liquidation. It is not in dispute that the State Government had issued a se
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