Supreme Court of India

Bhavesh D. Parish and Ors. v. Union of India and Anr.

Neutral citation

Reported as [2000] SUPP. 1 S.C.R. 291

Bench B.N. Kirpal and M.B. Shah JJ.

Decided 12 May 2000

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

7 Supreme Court benches have cited this judgment.

What the Court ordered

We hold that the provisions of Section 45-S of the Act are valid.

Judgment, page 20

From the headnote

Reserve Bank of India Act, I934: Section 45-S (as substituted by Amendment Act, I997) Constitutionality of-Provisions prohibited non-banking institutions from accepting deposits from the public and placed certain restrictions on them Held: there can be restriction on utilisation of deposits made by the public- But there can be no unrestricted fundamental right to accept deposits fi·om the public-Reserve Bank of India (Amendment) Act, 1997, S.9. Constitution of India, 1950: Article 32-Policy matters-Economic policy-Judicial review of Scope-Held: Court should not lightly interfere with such

Authorities it was built on

1993 T. Velayudhan Achari and Anr. v. Union of India and Others cited by 5

Where later benches applied it

2023 The State of Himachal Pradesh and Others v. Goel Bus Service Kullu Etc. Etc. relied on
2024 Commissioner of Customs v. M/s Canon India Pvt. Ltd. referred to
2024 Association for Democratic Reforms & Anr. v. Union of India & Ors. referred to
2023 Vivek Narayan Sharma v. Union of India referred to
2020 Internet and Mobile Association of India v. Reserve Bank of India referred to
2019 Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India & Ors. referred to
2012 Bangalore Development Authority v. The Air Craft Employees Cooperative Society Ltd. and Others referred to

Of those, 1 relied on · 6 referred to

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