Examine PIL against fit and proper status accorded to IndusInd Bank promoters: HC tells RBI

A bench headed by Acting Chief Justice Vipin Sanghi directed the RBI to treat as representation the plea by Mahek Maheshwari – a lawyer and communicate its decision to him.

IndusInd Bank
The petitioner urged the court to issue directions for investigation by a special investigation team (SIT) into the grant of “fit and proper” status to the promoters and said that the same has to be revoked.

The Delhi High Court on Monday asked the Reserve Bank of India (RBI) to look into public interest litigation against the “fit and proper” status accorded to the promoters of Hinduja Group’s IndusInd Bank.

A bench headed by Acting Chief Justice Vipin Sanghi directed the RBI to treat as representation the plea by Mahek Maheshwari – a lawyer and communicate its decision to him.

“You look into it. He is pointing out several criminal cases. You treat this writ petition as representation,” said the bench also comprising Justice Navin Chawla.

The petitioner urged the court to issue directions for investigation by a special investigation team (SIT) into the grant of “fit and proper” status to the promoters and said that the same has to be revoked.

“This is a policy decision. RBI is looking into it. You are not here to dictate do this, do that,” the court observed.

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