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Letter to BS: SC respite for stressed firms a case of judicial activism

Thanks to the interference - even if it is from the highest court of the country - the RBI would be justified if it takes a stand

Supreme Court of India
Supreme Court of India

I find from the Business Standard edition dated September 12 that the Supreme Court has asked banks not to refer any case for insolvency under the Reserve Bank of India’s circular instructions dated February 12, 2018, and the next hearing of the case has been fixed for November 14, 2018 (“SC respite for stressed assets”, September 12). This is an unfortunate development due to judicial activism. Judicial activism is welcome when the executive issues orders that are discriminatory or that violate certain fundamental rights under the Constitution.  The Reserve ...