ORDER :

This petition is filed by the petitioner-company being aggrieved of order dated 26/08/2020 (Annexure-P/10) passed by the Joint Director, Institutional Finance, Vindhyachal Bhawan, Bhopal wherein it is noted that in terms of RBI circular No.RBI/2016-17/306 DBR.No.BAPD.BC.69/22.01.001/2016-17, May 18, 2017 in Clause-3.1.1 there are provisions in regard to banking outlet. The petitioner company is not entitled to carry on any of the banking activities, but in violation of the RBI guidelines since petitioner has indulged in banking transactions, thus appropriate action be taken against the petitioner company under the provisions of Criminal Procedure Code and Madhya Pradesh Nikshepakon Ke Hiton Ka Sanrakshan Adhiniyam, 2000 (hereinafter referred to as the 'Act of 2000' for short).

2. It is submitted that as the petitioner is a company involved in non-banking transactions, therefore, it is submitted by Shri Brian D'Silva, learned senior counsel that earlier petitioner-company was registered as NBFC with RBI. It is a wholly owned subsidiary of IndusInd Bank Limited, which is a Scheduled Bank.

3. A Scheme of Amalgamation was submitted to the National Company Law Tribunal for amalgama