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IN THE HIGH COURT OF JUDICATURE AT MADRAS
Honourable Dr Justice ANITA SUMANTH, C.KUMARAPPAN, J
Reserve Bank of India – Appellant
Versus
P.V.R.S.Mani Kumar – Respondent
| Table of Content |
|---|
| 1. rbi appeals against injunction order. (Para 1 , 2) |
| 2. r1's credit information issues. (Para 4 , 5 , 6) |
| 3. availability of alternate remedy under cicra. (Para 8 , 22 , 23) |
| 4. cicra regulates credit information. (Para 10 , 11 , 12) |
| 5. conditions under which arbitration can be invoked. (Para 18 , 20) |
| 6. discussion on available remedies under cicra. (Para 24) |
| 7. exhaustion of remedies before arbitration. (Para 26 , 27 , 32) |
| 8. uncontested claims against r1's credit worthiness. (Para 34 , 35 , 36 , 37 , 38) |
| 9. final decision allowing the appeal. (Para 39) |
JUDGMENT :
Anita Sumanth J.
The Reserve Bank of India (RBI) had preferred this appeal against an order passed by the learned Judge in O.A.360 of 2015 on 27.08.2019.
2. The Original Application had been filed by R1 herein seeking an interim injunction as against TransUnion CIBIL Limited (in short ‘R2’) from continuing to publish data furnished by it in its Credit Information Report (in short ‘CIR’) dated 10.07.2014. The application has come to be allowed by way of the impugned order. The legal question that arises for determination is as to whether R1 could have invoked the arbitration clause as against R2 based on the CIR.
3. The
A party must exhaust available administrative remedies before seeking arbitration under the CICRA, negating the necessity for arbitration when an adequate alternate remedy exists.
Credit information companies are obligated to act fairly and expeditiously in updating credit ratings, as their actions can affect the fundamental rights of borrowers.
Credit Information Company can make a correction, deletion or addition of the credit information, after such correction, deletion or addition has been certified as credit by the concerned credit inst....
Expression “entertain” means to consider by application of mind to the issues raised. The Court entertains a case when it takes a matter up for consideration. The process of consideration could conti....
(1) Administrative policy decisions of Banks, do not constitute provisions/facilities of banking which may come under umbrella of ‘service’, defined under Section 2(1)(o) of Consumer Protection Act, ....
Arbitration agreements remain enforceable despite allegations of fraud unless serious fraud is established, which requires evidential assessment outside arbitration proceedings.
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