J U D G M E N T

SUBRAMONIUM PRASAD, J

1. The instant Writ Petition has been filed under Articles 226, read with 227 of the Constitution of India, by the Petitioner herein i.e. Sasakawa-India Leprosy Foundation challenging the constitutional validity of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (hereinafter referred to as the “Impugned Rules”) and Notification No. S.O. 4139 (E) dated 18.11.2019, notified by the Central Government in exercise of its powers under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the “IBC”), on the ground that they are ultra vires Articles 14, 19 (1) (g) and 21 of the Constitution, Chapter III-B of the Reserve Bank of India Act, 1934 (hereinafter referred to as the “RBI Act”) and Section 36A of the NHB Act.

2. The Petitioner herein is a Public Charitable Trust engaged in providing education, livelihood opportunities, and advocating for the rights of individuals affected by leprosy. Between March 2017 to January 2018, the Petitioner opened four fixed deposit accounts with various branches of Dewan Housing Finance Corporation