The High Court of Punjab and Haryana at Chandigarh has recently disposed of a Public Interest Litigation (PIL) seeeking a direction to conduct an impartial investigation into the alleged illegal opening and closure of loan hubs/centralized loan processing centres.
These actions were claimed to be in violation of the mandatory provisions of the Banking Regulations Act, 1949.
The petitioner had previously made a representation to the Governor of the Reserve Bank of India on May 15, 2024, but had not received a response.
Despite this, the court decided not to delve into the merits of the case, citing disputed questions of facts and the authority’s lack of action on the issue raised.
Instead, the bench, comprising Chief Justice Sheel Nagu and Justice Sumeet Goel, directed the petitioner to file a fresh representation before the Reserve Bank of India, along with a copy of the court’s order.
The RBI was instructed to consider and decide on the representation in accordance with the law, passing a speaking order and communicating the same to the petitioner within 30 days.
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