Sunday, January 29

High Court dismisses challenge to restrictions on withdrawal from PMC Bank

The High Court of Delhi has dismissed a plea by depositors of the PMC Bank challenging the restrictions imposed by the Reserve Bank of India (RBI) on withdrawals from their bank accounts.

Justice Prateek Jalan said “despite sympathising with the petitioners”, he was unable to grant relief to them.

“Despite sympathising with the position in which the petitioners find themselves, I am unable to grant the relief sought in this petition. The petition, along with the pending application, is therefore dismissed, but without any orders as to costs,” the Court said in its order dated Nov 30.

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