GIRIRAJ INDUSTRIES Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) This writ petition is filed with the following prayers:

(2.) The central challenge in this petition is to the RBI circular dated 1st July, 2015 and consequentially prayers have been made to quash and set aside the notice for recovery issued against the petitioners.

(3.) It is brought to our notice that petitions involving the similar issues were decided by this Court vide order dated 3.12.2018 passed in a group of petitions namely, R/Special Civil Application No.16929 of 2016 and allied matters wherein the challenge to RBI's Master circular dated 1.7.2015 as being ultra vires to various provisions of the Constitution of India and Statute had failed and those petitions to the extent of challenge to vires of Master Circular dated 1.7.2015 were rejected.