Writ Petition for not acting in consonance with provisions of the RBI Act against the Reserve Bank of India in respect of the first leasing scam

1. 6 S€XWPN o. --- ---- -/ 2314~.~ 2 1
Trideep Raj Bhandari, Vs. RBI & Ors.
IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN
AT JODHPUR .
S. B. Civil Writ Petition No. 12014
Trideep Raj Bhandari . . . . . . . PETITIONER
VS.
Reserve Bank of India & Ors. .... RESPONDENTS
I N D E X
S.NO. Particulars P.No.
1. Writ Petition : -)g
2. Affidavit in support of writ petition 1.9
3. Affidavit in support of documents 2-0
4. Stay petition : PI -23
5-. Affidavit in support of stay petition 29'
Documents :-
Annex.1, Copy of Press Release 2013-20141563 :25
Annex.2, Copy of RBI letter dt. 04.89.2013 :%
Annex.3, Copy of Recasted balance sheet and : 29 2-+Lp3 ' .
Profit & loss alc as of 31.03.2013
Annex.4, Copy of Direction dated 13.09.2013 4:3 0-~'
Annex.5, Copy of application under RTI Act and : -mj
Reply from RBI . .., 32- 71
Annex.6, Copy of letter dt.07.10.2013 72--73u+7 1
Annex.7, Copy of Brickworth document dt.25.09.1374-+ _&
Annex.8, Copy of notice dt.07.12.2013 7L95 f??3y-.
Annex.9, Copy of 'reply of RBI dt.07.01.2014 46rlm
Place : JODHPUR
DATE :
ANIL BHANSALI
CO.UNSEL FOR THE PETITIONER
aniIbhansali@yahoo.com

2. SBCWP No. --------1 2014
Trideep Raj Bhandari Vs. RBI & Ors.
IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN
AT JODHPUR
S. B. Civil Writ Petition No. 12014 i I
Trideep Raj Bhandari . . . . . . .PETITIONER
VS.
Reserve Bank of India & Ors. . . . .RESPONDENTS
LIST OF DATES AND EVENTS
21.08.2013
The Reserve Bank of lndia ordered an Inspection uls 45N of
the books of accounts of the company.
04.09.201 3
The Reserve Bank of lndia in pursuance to its inspection
found serious irregularities indicating overstatement of assets
as well as earnings. The RBI requested the company to
recast its Balance Sheet and Profit and Loss account for
31.03.2013 and 30.06.2013 -
13.09.201 3
The RBI issued the prohibitory order in view of revelation in
inspection that the company has Been over several years
falsifying its books of accounts and other financial
statements, violating the RBI regulations and reporting false
information.
27.09.201 3
The petitioner moved an application under RTI requesting
supply of notices, documents, recasted balance sheet etc.
06.1 1,201 3 . .
The RBI sent some doucments in 'response to RTI application
but refused to divulge findings of Investigation and supply of
recasted balance sheet and profit & loss account.
07.12.2013
The petitioner sent a legal notice seeking action under
chapter V of the RBI Act against various management and
other personnel who were in charge of the affairs of the
company.

4. IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN
AT JODHPUR
S. B. Civil Writ Petition No. 12014
Trideep Raj Bhandari
Slo Shri Tribhuvan Raj Bhandari
Gulab Vatika, Paota B Road, Jodhpur ... Petitioner
VERSUS
1. Reserve Bank of lndia, through its Governor
14'~F loor, Central Office Building, 18'~F loor
Shahid Bhagat Singh Road, Mumbai - 400 001
2 The Chief General Manager Incharge,
Department of Non-Banking Supervision
Central Office, Centre 1, World Trade Centre
Cuffe Parade, Mumbai - 400 005.
3. The Regional Director for Tamilnadu
Reserve Bank of lndia
Fort Glacis, Rajaji Salai, Chennai.
4. The Executive Director
Department of Non-Banking Supervision
Reserve Bank of lndia
Fort Glacis, 16 Rajaji Salai

5. b3 SBCWP No. --------1 2014 2 1
Trideep Raj Bhandari Vs. RBI & Ors. i L
1
5. The General Manager,
Department of Non-Banking Supervision
Reserve Bank of India
Fort Glacis, 16 Rajaji Salai
~hennai-6000 01 ... ... . Respondents
WRIT PETITION UNDER ARTICLE 226 &
227 OF THE CONSTITUTION OF INDIA;
AND
IN THE MATTER OF THE PROVISIONS OF
THE RESERVE BANK OF INDIA ACTAND
RULES MADE THEREUNDER
AND
IN THE MATTER OF INADEQUATE ACTION
BY RESERVE BANK OF INDIA UNDER
PROVISIONS OF CHAPTER lllB & V OF RBI
ACT IN THE CASE OF VIOLATIONS BY
FIRST LEASING COMPANY OF INDIA LTD
AND
IN THE MATTER OF ART.19,21 AND 300A
OF THE CONSTITUTION OF INDIA
------------------
To,
Hon'ble the Chief Justice and his other companion Judges of
the High Court of Judicature for Rajasthan at Jodhpur.
Mav it Please your Lordships:-

6. SBCWP No. -------- 12014
Trideep Raj Bhandari Vs. RBI & Ors.
j
The humble petitioner, above named, most respectfully I
submits the writ petition as under:-
1. That the petitioner is a citizen of India and invests his I
I
savings in bank deposits, government deposits and I
shares in Indian companies by way of investment.
2. That the petitioner by way of investment out of his
accumulated small savings invested as per details
given below, in the shares of a company called First
Leasing Company of lndia Limited hereinafter referred
to as the company. The said company is listed on
- Bombay Stock Exchange, National Stock Exchange
and was being traded regularly.
Name
Trideep Raj
Bhandari
Demat:
Account
Number
00250034
DP ID
(Mehta
Equities Ltd.)
1201 3700
Number
of Shares
2000
3. That the said company is by the nature of its business a
Non-banking Financial Company (NBFC) and therefore
when in 1997 several sections were inserted by way of
amendments to the Reserve Bank of lndia Act the said
company was also obligated to get itself registered
under the provisions of section 45-IA of the RBI Act and