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2021 DIGILAW 1735 (RAJ)

Ashish Rana v. Reserve Bank of India

2021-09-15

SANJEEV PRAKASH SHARMA

body2021
ORDER 1. The petitioners have preferred this writ petition with following prayers:- "(i) the banks and financial institutions may be restrained from initiating and/or continuing with the recovery proceedings and/or arbitration proceedings till the trial before the appropriate court in respect of the FIR No.17/2019 and other FIR's (Annexure 3) is concluded. (ii) Respondent No.l Reserve Bank of India be specifically directed to initiate proper and effective high level inquiry/action against the impleaded respondent Banks/FIs and their officials/officers under the provisions of the Banking Regulation Act and all the other enabling provisions on the complaint as filed by the petitioners against the fraudulent conduct of the respondent Banks and their official/officers. (Hi) Restrain the concerned Respondents from initiating and/or from the continuing with the proceedings under Section 138 of the N.I. Act, as initiated by the respondent banks/F.I.'s in respect to facilities sanctioned/granted to the petitioner doctors till the conclusion of RBI enquiry and criminal proceedings against the accused who have duped and fraudulently cheated the petitioners in connivance with the Respondent Banks/FIs. (iv) Respondent Banks be directed to not to take any coercive steps of whatsoever nature, against the petitioners till the final outcome of FIRs lodged by the petitioner doctors. (v) Any other appropriate order or direction which may be deemed just and proper in the facts and circumstances of the case may kindly be passed in favour of the petitioners. (vi) Cost of the instant petition, legal fee etc. be awarded in favor of the petitioners, to be paid by the Respondents and/or the accused." 2. It is a case where the petitioners have alleged that they have lodged several FIRs under Sections 420, 406, 467, 468, 471 & 120B IPC with the Special Police Station SOG in relation to fraud committed upon them by inducing them to invest amount with the Banks and at the same time loan being released to them by the concerned Banks resulting in loss of their original funds and also sword hanging on their heads for recovery of the loans. In the aforesaid background, the present petition has been filed. 3. However, this Court finds that the Reserve Bank of India has laid down a Banking Ombudsman Scheme, 2006 whereby the customers' complaints with regard to deficiency in providing promised services by Banks Sales Agents and non-adherence to fair practice by individual Banks are addressed. In the aforesaid background, the present petition has been filed. 3. However, this Court finds that the Reserve Bank of India has laid down a Banking Ombudsman Scheme, 2006 whereby the customers' complaints with regard to deficiency in providing promised services by Banks Sales Agents and non-adherence to fair practice by individual Banks are addressed. The provision for appeal to Reserve Bank against the awards by the Banking Ombudsman has also been provided under the said Scheme. The said Scheme is operational and is an effective method to curb such kind of practices as alleged in the present petition. 4. In view of the Scheme having been already notified by Reserve Bank of India vide its circular dated 26.12.2005, this Court is of the view that the petitioners would always be free to take up their complaints before the Ombudsman under the Banking Ombudsman Scheme, 2006 issued in exercise of power under Section 35A of Banking Regulation Act, 1949 and as per the provisions laid down therein. If such complaints are made, it is expected from the concerned authority to proceed on the said complaints on merits and after following the procedure as laid down under the Scheme pass an award expeditiously not later than six months. Interim protection, if any, may also be provided, if so prayed for. 5. Granting liberty as above, this writ petition is disposed of. 6. All pending applications, if any, stand disposed of.