Money & Banking

Supreme Court refused to entertain PMC account holders’ plea

PTI New Delhi | Updated on October 18, 2019 Published on October 18, 2019

Supreme Court of India (File photo)   -  PTI

The account holders approached the SC to direct RBI to lift restrictions on cash withdrawals

The Supreme Court, on Friday, refused to entertain a plea filed on the behalf of scam-hit PMC Bank account holders seeking lifting of restrictions imposed by the Reserve Bank of India (RBI) on cash withdrawals.

A bench headed by Chief Justice of India Ranjan Gogoi said, “We are not inclined to entertain this petition under Article 32 (writ jurisdiction). Petitioner can approach the High Court concerned for appropriate relief.”

Also read: Watchdogs, you have failed the PMC

Solicitor General Tushar Mehta said the government is aware of the seriousness of the situation, and the Enforcement Directorate is taking appropriate action against the culprit.

Advocate Shashank Sudhi, appearing for petitioner Bejon Kumar Mishra, said he has filed the petition on behalf of 500 Punjab & Maharashtra Co-operative Bank account holders seeking lifting of restrictions imposed by the RBI on cash withdrawals.

Published on October 18, 2019
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