Plea seeking contempt of court proceedings against RBI Governor, others filed in SC

A petition was filed before the Supreme Court on Wednesday seeking to initiate contempt of court proceedings against RBI Governor Shaktikants Das, Chief Executive of Indian Banks Association (IBA) and others for allegedly flouting the top court's earlier order by turning and declaring the account of petitioners as Non Performing Assets (NPA) in connection with moratorium matter.

The contempt petition was filed before the Supreme Court by the petitioners -- Aslam Trading Company and Tarun Polymers through lawyer Vishal Tiwari and Advocate On Record (AOR) Abhigya.

The petition said the respondents - RBI Governor and Chief Executive of Indian Banks Association (IBA) - were duty-bound to promulgate and ensure compliance of the order of the court throughout the country "but they deliberately didn't".

The Supreme Court's September 3, 2020 date was operational on all lending institutions/banks throughout the country and was passed in the favour of all borrowers accounts to grant relief from financial stress during COVID-19, Tiwari said in the petition.

It said September 3, 2020 order was passed in the presence of the respondents who were represented by their counsel and all were very well aware of the stay order.

"The contemptuous act of the respondents has not only disobeyed the court's order but has also caused severe irreparable damage and loss to the petitioner," the petition said.

It said the "petitioner has lost his image and has been defamed" as the possession notice was published in the newspapers of his locality "which made the dignity of the petitioner lower".

"The contemptuous act of the respondents has shaken the confidence of the public and has degraded the trust of the borrowers. In this pandemic where all borrowers are passing through the worst scenario and financial stress, the respondent's act is very disgraceful and contemptuous," the petition added.

The petitioners sought issuance of notice to the contemnors for "willfully violating the order/directions" of the apex court's September 3, last year passed in a writ petition.

"Punish the contemnors for having committed contempt of this court," the petition said.

The petition said that the stay order was passed in the pandemic COVID-19 for the benefit of stressed borrowers so that they shall not suffer in present financial crises during the pandemic.

"Already there is a slump in the work of the petitioner. The stay order was operating as the lifesaving drug to the petitioner but the contemptuous act of the respondent has brought a major setback to the petitioner and his survival has become critical," the petition said.

( With inputs from ANI )