On Friday, the Supreme Court has rejected a petition, which raises allegations against Finance Minister Arun Jaitley related to the Capital Reserve of the RBI (Reserve Bank of India). The court has also imposed a compensation of Rs. 50,000 on the lawyer, who had raised the petition.
It further said that the Supreme Court’s registry will not accept any petition from ML Sharma unless he compensates Rs. 50,000.
A justice-bench comprising of Chief Justice of India, Ranjan Gogoi and Justice SK Kaul said that “we find no reason whatsoever to entertain this PIL(Public Interest Litigation).”
Mr. Gogoi told him that “You want us to restrain the finance minister… You have done some good work. Why are you destroying your credibility.”
The justice-bench said that “What is this PIL? You cannot go on with such misadventure. What exactly is this? You are saying the finance minister is plundering the capital reserve of the RBI. You are not bringing honor to this institution. Why do we permit you to go ahead with this PIL.”
The top law officer KK Venugopal said that the time has arrived to take a look at petitions, who are trying to waste the time of the top court.
While seeking action against the Finance Minister, ML Sharma has accused that he wanted to “plunder” the RBI’s Capital Reserve to waive off the loan to certain companies.
The Supreme Court has imposed the fine as the lawyer continued with the arguments after they petition raised against Mr. Jaitley was rejected.
Mr. Gogoi has also warned him not to continue with such submission, says that the cost may increase if he unable to satisfy the demand of the court.
The top court has also expressed its dissatisfaction that Mr. Sharma made Mr. Jaitley the main party in its petitioner.