$~13 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 10690/2021 & CM APPL. 32959/2021 MORGAN ASIA LIMITED ...Petitioner Through: Mr. J.M. Kalia, Mr. Dhruv Kalia and Mr. Siddharth Shukla, Advocates.

versus RESERVE BANK OF INDIA & ANR. ...Respondents Through: Mr. Ramesh Babu with Mr. Manish Singh, Ms. Tanya Choudhary and Ms. Jagriti Bharti Advocates for Respondent-1/RBI.

Mr. Ripu Daman Bhardwaj, CGSC for UOI.

% Date of Decision: 20^th August, 2024 CORAM:

HON'BLE THE ACTING CHIEF JUSTICE HON'BLE MR. JUSTICE TUSHAR RAO GEDELA

JUDGMENT

TUSHAR RAO GEDELA, J

1. Present petition has been preferred by the petitioner, inter alia, seeking declaration of notification no. RBI/2014-15/299 dated 10^th November, 2014, bearing no. DNBR(PD) CC No. 002/03.10.001/2014-15 issued by the respondent/Reserve Bank of India (for short “RBI”) as ultra vires of section 45-IA (3) of Reserve Bank of India Act, 1934 (for short “RBI Act”) and also a declaration that proviso clause attached to section 45-IA(6) as ultra vires the Constitution, being discriminatory and violative Signature Not Verified Digitally Signed W.P.(C) 10690/2021 Page 1 of 16 of Article 14 of the Constitution of India apart from other provisions of