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). 2 Following the said Statement, RBI also issued a circular dated April 6, 2018, in exercise of the powers conferred by Section 35A read with Section 36(1)(a) and Section 56 of the Banking Regulation Act, 1949 and Section 45JA and 45L of the Reserve Bank of INDIA Act, 1934 (hereinafter, RBI Act, 1934 ) and Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007, directing the entities regulated by RBI (i) not to deal in virtual currencies nor to provide services for facilitating any person or entity in dealing with or settling vi
REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL ORIGINAL JURISDICTION Writ Petition (Civil) No.528 of 2018 INTERNET AND MOBILE ASSOCIATION OF INDIA …. Petitioner Versus RESERVE BANK OF INDIA ... Respondent WITH Writ Petition (Civil) No.373 of 2018 J U D G M E N T V. Ramasubramanian, J. 1. THE STORY LINE: 1.1.
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