1. Issue notice. Mr. O. P. Gaggar, Advocate accepts notice for R-1 and Mr. Shantanu Tyagi, Advocate accepts notice for R-4 and R-5. On steps being taken, notice be issued to the respondent No.3/RBI through all permissible modes including Dasti Service.
2. The issue raised in the present petition is identical to the issue raised in a batch of writ petitions i.e. W.P.(C).306/2019 etc. wherein the vires of the Circular RBI/DBS/2016-17/DBS.CO.CFMC.BC.No.1/23.04.001/2016-17 dated 01.07.2016 updated as on 03.07.2017 issued by RBI has been challenged. Interim protection has also been granted by this court.
3. List along with W.P. (C) 306/2019 on 13.01.2021, the date already fixed, before the Roster Bench.
4. In the meantime, the respondents shall maintain status quo as of today till the next date of hearing. It is clarified that the respondents are free to issue a show cause notice to the petitioner and the respondents No. 4 & 5 and thereafter to give necessary hearing through video conferencing. A reasoned order be thereafter passed as per law which may be communicated to the affected parties. It is also clarified that the respondents No. 1-3 are free to take any steps/investigation/file any complaint proceedings against the petitioners/respondents No. 4 & 5 independent of the aforesaid order declaring the account of the respondents No. 4 & 5 a fraud account.