Legal Street registered trademark

Supreme Court of India

Hongkong and Shanghai Banking Corp. Ltd. v. Awaz & Ors.

Neutral citation
Reported as [2024] 12 S.C.R. 1482
Bench Bela M. Trivedi and Satish Chandra Sharma JJ.
Decided 19 December 2024

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 are of the considered opinion that once the terms of the credit card operations were known to the complainants and disclosed by the banking institutions before the issuance of the credit cards, the National Commission could not have scrutinized the terms or conditions, including the rate of interest.

Judgment, page 32

From the headnote

Issue for Consideration (i) Whether the Respondent organization had the locus to approach the National Consumer Disputes Redressal Commission (NCDRC); (ii) Whether the NCDRC had the jurisdiction to interfere with banking operations, which is the exclusive statutory domain of the Reserve Bank of India; (iii) Whether the NCDRC had the jurisdiction to fix a maximum ceiling rate of interest to be charged by banks from their credit card holders for their failure to make full payment on the due date, at the behest of the Reserve Bank of India & unilaterally direct banks/non-banking financial

Authorities it was built on

Sign in free to read it

  • The full judgment, page by page, as published in the Supreme Court Reports
  • The ratio: what the Court held, verbatim, with the page it sits on
  • Every bench that relied on it, and every bench that argued against it
  • Search every reported judgment, by party, citation or question
  • Download the PDF, copy pinpoint citations ready for a filing
Sign in to read - for free

An email address, no password.