YASHDEEP SHARMA Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) The petitioner before this Court, who was a Director and Promoter of M/s.Golden Jubilee Hotels Private Limited, has filed the present writ petition challenging the validity of Circular dtd. 01/07/2016 issued by the Reserve Bank of India as arbitrary and unconstitutional, alleging that it violates Articles 14 and 21 of the Constitution of India as it does not provide for opportunity of hearing/issuance of show cause notice. The petitioner has prayed for the following relief.

(2.) This Court in identical matters i.e., W.P.Nos.22588 of 2019 and 3648 and 3667 of 2020, passed a common order dtd. 22/12/2021 dismissing the writ petitions and paragraphs 16 to 27 of the aforesaid order are reproduced as under:-

(3.) Learned counsel has placed reliance upon the Judgment delivered in the case of UMC Technologies Private Limited v. Food Corporation of India (Civil Appeal No.2687 of 2020, dtd. 16/11/2020).