38.6c New Delhi, India, Sunday, August 03, 2025
Top Stories Supreme Court
Political NEWS Legislative Corner Celebstreet International Videos
Subscribe Contact Us
close
Judiciary

Fallacious and non-substantiated, RBI on Swamys claim on role of staff in bank scams [Read Counter Affidavit]

By LawStreet News Network      05 January, 2023 10:52 PM      0 Comments
Fallacious and non-substantiated, RBI on Swamys claim on role of staff in bank scams [Read Counter Affidavit]

NEW DELHI: The RBI has told the Supreme Court that former MP Subramanian Swamys plea seeking a probe into the alleged role of its officials in various bank scams is fallacious and non-substantiated.

"The averments made by the petitioners trying to link the scams to the RBI officials is fallacious and non-substantiated in the absence of any prima facie evidence produced by the petitioners," the RBI said in an affidavit filed in the apex court.

The central bank also said that the RBI has an internal mechanism/framework to examine an employee's conduct if there are any specific allegations, or prima facie evidence with respect to his actions or omissions.

The top court, in October last year, had sought response from CBI and the RBI on the petition by Swamy.

The RBI said Swamys plea is characteristically frivolous and based on a complete misunderstanding of facts as well as the applicable law and sought its dismissal.

The central bank said the petitioner has no locus standi to file the petition, which is "riddled with factual and legal inaccuracies".

The petitioners have not presented any evidence or specific allegation in this regard and have merely made vague and ambiguous wild allegations against the entire institution of the answering respondent," the RBIs affidavit said.

The RBI also has a Central Vigilance Cell, which oversees the conduct of the employees. Moreover, it is amply obvious that for bringing any individual to justice, RBI Official or otherwise, there needs to be prima facie evidence for the investigating agencies to examine their role. It is for the investigating agencies to conduct investigation as per the laid down procedures and applicable law, the affidavit said.

It further added that most of the scams referred in the present PIL are already under investigation by the CBI and Enforcement Directorate (ED). It is not for the petitioners to direct the course of investigations and decide the aspects which are to be pursued by the law enforcement agencies," the RBI said.

On Wednesday, the court granted three weeks to Swamy to file his rejoinder to the affidavit.

In his plea, Swamy sought a direction to the CBI to probe role of RBI officials for their alleged connivance in Kingfisher scam, Bank of Maharashtra scam, Uttar Pradesh-based Private sugar organisation scam, Nirav Modi/ Punjab National Bank scam, Rotomac Global Private Limited scam, Lakshmi Vilas Bank scam, IL&FS scam, PMC Bank scam, YES Bank Limited scam, First Leasing Company of India Limited scam.

[Read Counter Affidavit]



Share this article:

User Avatar
About:


Leave a feedback about this
TRENDING NEWS


TOP STORIES

sc-questions-justice-varma-over-failure-to-challenge-validity-of-in-house-inquiry-panel
Trending Judiciary
SC questions Justice Varma over failure to challenge validity of in-house inquiry panel

SC questions Justice Varma for not challenging in-house probe panel earlier despite cash haul case; asks why he joined inquiry if he found it flawed.

28 July, 2025 02:27 PM
timelines-for-governor-prez-to-clear-bills-kerala-asks-sc-to-return-presidential-reference-unanswered
Trending Executive
Timelines for Governor, Prez to clear Bills: Kerala asks SC to return presidential reference "unanswered"

Kerala urges SC to return Presidential reference on bill clearance timelines as “unmaintainable”, citing suppression of facts and settled SC rulings under Article 200.

28 July, 2025 02:38 PM
sc-refuses-to-stay-publication-of-draft-voters-list-in-bihar-on-aug-1
Trending Judiciary
SC refuses to stay publication of draft voters list in Bihar on Aug 1

SC declines stay on Bihar draft voter list; asks EC to consider Aadhaar, Voter ID for inclusion ahead of Assembly polls on August 1.

28 July, 2025 04:10 PM
why-so-many-students-dying-by-suicides-sc-asks-iit-kharagpur
Trending Judiciary
Why so many students dying by suicides, SC asks IIT Kharagpur

SC asks IIT Kharagpur why students are dying by suicide; raises concern amid rising campus deaths despite new mental health guidelines.

29 July, 2025 11:51 AM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email