Authority: High Court of Jharkhand at Ranchi
Order Date: 25 August 2026
Case Overview
- Petitioner: Vikash Kumar Singh, resident of Jamshedpur, Jharkhand, filed a writ petition challenging the actions of the Union of India through RBI and Muthoot Finance Limited and its various branches.
- Respondents: Union of India (through RBI), Executive Director Department of Regulation, RBI; Muthoot Finance Limited (RBI License No. N-16-00167) and its General Managers, Regional Manager, Branch Manager, and an advocate firm.
- The dispute arose from a gold loan taken by the petitioner at the Muthoot Finance branch in Raja Bazar, Patna, Bihar. The loan agreement contained a jurisdiction clause stipulating that any disputes be resolved by an arbitrator/mediator appointed by the company under the Arbitration and Conciliation Act, 1996, with the venue and exclusive jurisdiction of courts in Delhi.
- The petitioner sought relief from the Jharkhand High Court, alleging issues related to the loan agreement.
Final Outcome
- The Court held that it does not have territorial jurisdiction because the loan was executed in Patna and the agreement expressly provides for Delhi courts as the exclusive forum.
- Consequently, the writ petition was disposed of, and the petitioner was directed to approach the appropriate court having jurisdiction.
Topics: Jurisdiction, Gold Loan Dispute, Banking Regulation