SUO MOTU PROCEEDING Vs. STATE OF GUJARAT

JUDGEMENT

(1.) The larger question which arises for consideration of the Court is the reinvestment of all the various fixed deposits lying in various Courts and the Tribunals of the State including this Court on account of increase of the rate of interest of the Nationalized Bank and other Banks as per the relaxation given by the Reserve Bank of India to such Banks.

(2.) The single Bench of this Count (Coram : Jayant Patel, J.) in suo mom exercise of the powers at initial stage had an occasion to independently consider such question in the proceedings of Civil Application No. 5947 of 2007 arising in First Appeal No. 9933 of 2005, and it was inter alia observed as under :

(3.) Thereafter, the matter is assigned to the Division Bench of this Court pursuant to the order passed by the Hon'ble Chief Justice on administrative side. On 11-5-2007, the order was passed by this Court with a view to give an opportunity to the affected persons and suggestions, if any, of interested persons in the general interest of the litigating class or the practical difficulty which may arise in the event any directions are to be issued. The order reads as under :