Supreme Court refuses to hear PMC account holders’ plea on lifting RBI cap on withdrawals

Solicitor General Tushar Mehta said the govt is aware of the seriousness of the PMC Bank scam and the Enforcement Directorate is taking appropriate action against the culprit.

A depositor of Punjab and Maharashtra Cooperative (PMC) bank displays a placard during a protest over the bank's crisis, outside the RBI building in Mumbai on 1 October 2019 | PTI

New Delhi: The Supreme court on Friday refused to entertain a plea filed on behalf of scam-hit PMC Bank account holders seeking lifting of restrictions imposed by the Reserve Bank of India on cash withdrawals.

A bench headed by Chief Justice of India Ranjan Gogoi said, “We are not inclined to entertain this petition under article 32 (writ jurisdiction). Petitioner can approach the high court concerned for appropriate relief”.

Solicitor General Tushar Mehta said the government is aware of the seriousness of the situation and the Enforcement Directorate is taking appropriate action against the culprit.

Advocate Shashank Sudhi, appearing for petitioner Bejon Kumar Mishra, said he has filed the petition on behalf of 500 Punjab & Maharashtra Co-operative Bank account holders seeking lifting of restrictions imposed by the RBI on cash withdrawals.