(Per : HONOURABLE THE ACTING CHIEF JUSTICE MR.BHASKAR BHATTACHARYA) Issue Rule, returnable after one month.
Since the writ petitioner has challenged the provision contained in Section 2(1)(m)(iv) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 as ultra-vires the Constitution of India, on the ground that the legislature has bestowed untrammelled discretion on the Central Government to pick and choose according to the notion of the individual, we also issue notice upon the learned Attorney General of India.
Since respondent No.2 has entered appearance, to enable the learned Advocate for the said respondent to take instruction whether his client has been exempted from the provision of Chapter III-B of the Reserve Bank of India Act, 1934 by virtue of Master Circular dated July 2, 2007, we place the matter on Tuesday, January 31, 2012. On that day after considering the fact on this particular point, we will consider the question of grant of interim order.
(Bhaskar Bhattacharya, Actg. C.J.) (J.B.
Pardiwala, J.) */Mohandas Top