Authority: High Court (Bench of Justice Krishna Rao)
Order Date: 07 July 2026
Case Overview
- Petitioners: GSCO Infrastructure Pvt. Ltd. & Ors. versus Reserve Bank of India & Ors. (WPA 21958 of 2025).
- Petition seeks a direction for the respondent authorities to inquire and determine whether the RBI Fair Practice Code under its guidelines has been complied with.
- Petitioners obtained a loan to purchase twelve dumpers for business purposes; they paid part of the loan but the total loan amount remained unpaid.
- Respondent No. 6, a financial company, repossessed all vehicles at the petitioners' request and auctioned them at rates lower than the actual market value, subsequently claiming a further amount from the petitioners.
- Petitioners made a representation to the Centralized Receipt and Processing Centre, RBI on 7 August 2025; the representation was not considered.
- RBI counsel submitted that the complaint was filed by the petitioner's advocate and not in the format prescribed by the RBI scheme; a proper complaint must be filed directly by the petitioner or an authorized representative for the Ombudsman to consider it.
Final Outcome
- The writ petition is disposed of, granting the petitioners liberty to make a proper representation to the RBI through the online scheme.
- The RBI Ombudsman shall consider any representation made by the petitioners and pass an appropriate order in accordance with law within six weeks from the date of receipt of this court order.
- WPA 21958 of 2025 is formally disposed of.
- Urgent photostat certified copies of this order, if applied for, shall be supplied to the parties upon compliance with all necessary formalities.
Topics: Banking Regulation, Legal Dispute