Supreme Court · 1992 INSC 32 · Decided 30 January 1992
Peerless General Finance and Investment CO. LTD. and Anr v. Reserve Bank of India
- Court
- Supreme Court of India
- Citation
- 1992 INSC 32 · [1992] 1 S.C.R. 406
- Case number
- WRIT PETITION (CIVIL) No. 677/1991
- Decided
- 30 January 1992
- Bench
- N.M. KASLIWAL, K. RAMASWAMY (2-judge bench)
- Outcome
- Disposed off
- Case type
- Writ / Constitutional
- Acts & sections cited
- Constitution
Headnote
Reserve Bank of India Act, I934: Sections 45K (3), 45J, 451 & 45L: Residuary Non-Banking Companies-Receiving deposits under the saving schemes-Directions is- sued by Jieserve Bank-,)uch companies to deposit with public sector Banks or invest in unencumbered securities the aggregate amounts of as liabilities in order to secure return of the "!Oney to depositors-,)uch directions whether statu- tory in natllre-Whether ultra vires of Section 45K (3)-Whether violative of Artlt:les 14 and I 9 (I) (g) of the Constitution of India. Constitution of India, I950: Articles 14, I9 (I) (g),
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