Mar 11, 2020, 2:55 PM IST In the wake of the YES Bank crisis, Axis Trustee Service Limited (ATSL) has approached the Bombay High Court challenging the Reserve Bank of India’s (RBI) proposed reconstruction scheme. As part of the scheme, the RBI had proposed a move to write down YES Bank’s Additional Tier 1 bonds (AT-1 … Read More →
II. Mode of exercise of powers of RBI. The petitioners argued that there was no application of mind by RBI on the effective ban and that the invocation by RBI, of public interest as a weapon was a colourable exercise of power. The court referred to various steps taken by RBI with regards to VC’s … Read More →
Nine issues were flagged before the Hon’ble Supreme Court in the case of challenging the Reserve Bank of India ban on dealings of Virtual Currencies business in India. The Apex Court answered eight in favour of RBI; However the Apex court quashed the ban on one single ground. I. POWER OF RBI:- The Petitioners argued … Read More →