NDLI: Bhavesh D. Parish and Ors. Vs. Union of India and Anr.

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Reserve Bank of India Act policy matters
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Case Type	Writ Petition
Court	Supreme Court of India
Disposal Nature	Petition Dismissed
Headnote	Reserve Bank of India Act, 1934:Section 45-S (as substituted by Amendment Act, 1997)- Constitutionality of-Provisions prohibited non-banking institutions from accepting deposits from the public and placed certain restrictions on them-Held: there can be restriction on utilisation of deposits made by the public-But there can be no unrestricted fundamental right to accept deposits from the public-Reserve Bank of India (Amendment) Act, 1997, S.9. Constitution of India, 1950:Article 32-Policy matters-Economic policy-Judicial review of-Scope-Held: Court should not lightly interfere with such matters. Article 226-Stay of legislation-During pendency of its challenge-Held: High Court must show judicial restraint in staying the applicability E of a piece of legislation unless the provision is manifestly unjust or glaringly unconstitutional-This is more so in the case of legislation pertaining to economic reform or change.
Judge	Honble Mr. Justice B.N. Kirpal
Neutral Citation	2000 INSC 325
Petitioner	Bhavesh D. Parish And Ors.
Respondent	Union Of India And Anr.
SCR	[2000] Supp. (1) S.C.R. 291
Judgement Date	2000-05-12
Case Number	168

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Bhavesh D. Parish and Ors. Vs. Union of India and Anr.