HC stays order to disclose top loan defaulters

Recently, Central Information Commission (CIC) has directed the Reserve Bank of India to provide details of industrialists who have defaulted in repayment of loans taken from nationalized banks. However, the Delhi High court has stayed an order to publicly name top 100 loan defaulters.

A bench of Justice Vipin Sanghi, in its interim ex-parte order, asked the information-seeker to respond to the petition filed by the RBI challenging the CIC order. The court listed the next hearing on February 27, 2012, on the RBI’s petition which said the CIC’s directives were in violation of the Right to Information Act.

Counsel T R Andhiyaarjuna, appearing for the RBI, contended the CIC’s order would have a far-reaching impact as this kind of information is confidential and the Information Commissioner has dealt with the matter in a wrong way, without considering all the relevant provisions under the RBI Act. He also said the order of the CIC directing the RBI to provide information was beyond its jurisdiction under the transparency law, as the RBI is exempted from providing such info under section 8(1)(a). “It’s not open to the CIC to issue such a direction under section 8 (2) of the RTI Act when the RBI is exempted under section 8 (1) (a),” he added.

From the desk Of Daniel & Boaz
Helpline; Legal Team: 9962111818

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2 Comments

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2 responses to “HC stays order to disclose top loan defaulters

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