Akshay N Patel Vs Reserve Bank of India (Supreme Court of India)
Facts- The appellant has challenged the constitutionality of Clause 2(iii) of the 2020 MTT (Merchanting Trade Transactions) Guidelines by alleging a violation of his rights under Articles 14, 19(1)(g) and 21.
The main issue involved is RBI’s restriction to prohibit MTTs in PPE products is restrictive of the appellant’s right to equality under Article 14 on the ground that it is arbitrary, whether it is a reasonable restriction on the appellant’s freedom to conduct trade under Articles 19(1)(g) read with Article 19(6), and if it violates the appellant’s liberty and right to livelihood under Article 21.
Conclusion- Held that that the judgment dated 8 October 2020 of the Madhya Pradesh High Court was correct in holding that Clause 2(iii) of the 2020 MTT Guidelines was a proportionate measure in ensuring the availability of sufficient domestic stock of PPE products. The measure was validly enacted, in pursuance of legitimate state interest and did not disproportionately impact the fundamental rights of the appellant. Hence, Clause 2(iii) passes muster under Articles 14, 19(1)(g) and 21. For the reasons noted in this judgment, we see no need to interfere.
FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER
