Supreme Court of India · 2018-02-16
JAYANT VERMA . vs UNION OF INDIA
- Citation / case number
- SC 2012/28779
- Court
- Supreme Court of India
- Petitioner
- JAYANT VERMA .
- Respondent
- UNION OF INDIA
- Author
- HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN
- Bench
- HON'BLE MR. JUSTICE NAVIN SINHA HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN
Judgment text excerpt
The Supreme Court examined the constitutional validity of Section 21A of the Banking Regulation Act, 1949, which prohibits courts from scrutinizing the rates of interest charged by banking companies. The Court held that this provision does not violate any fundamental rights and is a valid legislative measure aimed at protecting banking transactions from judicial interference. The petitioners' request for the abolition of Section 21A was denied, affirming the legislature's intent to maintain stability in banking operations.