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Supreme Court of India

Akshay N Patel v. Reserve Bank of India & Anr.

Neutral citation
Reported as [2021] 13 S.C.R. 231
Bench Dr. Dhananjaya Y Chandrachud, Vikram Nath and B.V. Nagarathna JJ.
Decided 6 December 2021

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.

What the Court ordered

We hold that the impugned measure is enacted in furtherance of a legitimate aim that is of sufficient im portance to override a constitutional right of freedom to conduct business.

Judgment, page 29

From the headnote

Constitution of India – Art. 14, 19(1)(g) and 21 – Foreign Exchange Management Act, 1999 – ss. 10(4), 11(1) – Merch anting Trade Transactions Guildelines, 2020 – Clause 2(iii ) – Proportionality of clause 2(iii) – The appellant is the managing director of a firm that manufactures and trades in pharmaceuti cals and personnel protection equipment products such as masks, gl oves, sanitizers, PPE overalls, and ventilators etc. – Appellant obtained International Merchanting Trade Transaction (MTT) c ontract to serve as an intermediary between the sale of PPE pr oducts by a supplier in China to a

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