K.S. SRINIVAS Vs. UNION OF INDIA

JUDGEMENT

(1.) HEARD the learned Counsel for the parties.

(2.) IN this case, the petitioner has sought for declaration that Clause 4 of the Insurance Policy is unconstitutional and for a writ of mandamus directing respondents 2 and 3 to pay balance of the amount of Rs.1,41,362.32/- to the petitioner and for certain other reliefs.

(3.) IN Federal Bank Limited v Sagar Thomas and Others AIR 2003 SC 4325 : 2004-I-LLJ-161 (SC) : (2004) 120 Comp. Cas.63 (SC) : (2003) 10 SCC 733 the Apex Court has held that a private company carrying on banking business as a scheduled Bank cannot be termed as an institution or a company carrying on any statutory or public duty. Merely regulatory provisions to ensure that commercial activity carried on by private bodies work within a discipline, neither confer any status upon the company nor put any obligation upon it which may be enforced through issuance of a writ under Article 226 of the Constitution of India.