SANJAY V. GANGAPURWALA, D. BHARATHA CHAKRAVARTHY
AUM Capital Market Pvt. Ltd. – Appellant
Versus
Union of India – Respondent
| Table of Content |
|---|
| 1. petition challenges rbi's amalgamation scheme (Para 1 , 2) |
| 2. shareholders contest rbi's actions and decision-making process (Para 3 , 4 , 5 , 6 , 7 , 8) |
| 3. court's overview of rbi's regulatory framework (Para 9 , 10 , 11) |
| 4. determining the legality of share value reduction and write-offs (Para 12) |
| 5. court orders rbi to reassess share valuations and bond write-offs (Para 14 , 15) |
ORDER :
THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE
Prayer in W.P.No.17521 of 2020: Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of certiorarified mandamus, quashing the impugned amalgamation scheme,G.S.R.No.731(E) dated 25.11.2020 notified by the 1st respondent and the consequent press release of the 2nd respondent dated 25.11.2020 and the impugned moratorium order, S.O.4127 dated 17.11.2020issued by the respondent 1 or any other revised Scheme without a consultative process or re-examination of the valuation or through a price discovery by an open, fair and transparent bidding process byway of a public announcement or in the alternative issue a mandamus directing that the shareholders of the 3rd respondent bank should be treated as the sha
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