Transcription of REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL …
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REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL …
1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL ORIGINAL JURISDICTION Writ petition ( CIVIL ) of 2018 INTERNET AND MOBILE ASSOCIATION OF INDIA .. Petitioner Versus RESERVE BANK OF INDIA .. Respondent WITH Writ petition ( CIVIL ) of 2018 J U D G M E N T V. Ramasubramanian, J. 1. THE STORY LINE: Reserve Bank of INDIA (hereinafter, RBI ) issued a Statement on Developmental and Regulatory Policies on April 5, 2018, paragraph 13 of which directed the entities regulated by RBI (i) not to deal with or provide services to any individual or business entities dealing with or settling virtual currencies and (ii) to exit the relationship, if they already have one, with such individuals/ business entities, dealing with or settling virtual currencies (VCs).
second writ petition are young high-tech entrepreneurs who have graduated from premier educational institutions of technology in the country. Contents of the impugned Statement and Circular of RBI: 1.4. The Statement dated 05-04-2018 issued by RBI, impugned in these writ petitions, sets out various developmental and regulatory
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