GSCO Infrastructure Pvt. Ltd. & Ors. Vs Reserve Bank of India & Ors. (Calcutta High Court)
The Calcutta High Court considered a writ petition seeking a direction to the respondent authorities to enquire into whether the RBI fair practice code had been complied with. The petitioners had obtained a loan for purchasing 12 dumpers, paid part of the loan amount, and, after failing to repay the entire loan, the respondent financial company repossessed the vehicles at the petitioners’ request and auctioned them. The petitioners alleged that the vehicles were sold below their actual value and that the financial company was still claiming further amounts from them.
They had submitted a representation to the RBI authorities, including the Centralized Receipt and Processing Centre, on 7 August 2025, but alleged that it had not been considered. RBI submitted that the complaint had been filed through the petitioners’ advocate and not in the format prescribed under the RBI scheme. It stated that if the petitioners filed a complaint in accordance with the scheme, either directly or through an authorised representative instead of the advocate, the RBI Ombudsman would consider it in accordance with law. The High Court disposed of the writ petition by granting liberty to the petitioners to submit a proper online representation under the RBI scheme and directed the RBI Ombudsman to consider it and pass an appropriate order within six weeks of receipt.
