K.ANANTH Vs. THE UNION OF INDIA

JUDGEMENT

(1.) This intra Court appeal has been filed by the writ petitioner questioning the order dated 25.02.2014 passed by the learned Single Judge closing W.P.(MD) No.20743 of 2013.

(2.) The petitioner purchased a harvester vehicle under a hire purchase agreement with the third respondent. The third respondent is a non banking finance company. The vehicle purchased by the writ petitioner caught fire on 13.09.2013 and was fully damaged. The writ petitioner lodged a claim with the insurer. The insurer called upon the writ petitioner to furnish certain documents for processing the insurance claim. But the said documents were with the fourth respondent, who is the Administrative head of the Madurai Branch of the third respondent company. The fourth respondent adopted an attitude of utter non co-operation. As a result, the writ petitioner could not pursue his insurance claim.

(3.) The contention of the writ petitioner is that the third respondent had indulged in unfair trade practices and that therefore the Reserve Bank of India, who is the statutory authority to check the unfair trade practices of non banking finance companies must invoke its statutory power conferred under Section 45-1A (6) (iv) (a) of the Reserve Bank of India Act , 1934 and cancel the registration of the third respondent. The petitioner sent representation dated 11.11.2013 in this regard. Since it was not acted upon, he was constrained to file W.P.(MD) No.20743 of 2013.