Supreme Court rejects PIL against Finance Minister Arun Jaitley

New Delhi, Dec 7 The Supreme Court Friday rejected a PIL raising charges against Finance Minister Arun Jaitley relating to capital reserve of the Reserve Bank of India.

The apex court also imposed a cost of Rs 50,000 on advocate M L Sharma, who had filed the public interest litigation (PIL).

"We discover no reason at all to engage this PIL," said a seat involving Chief Justice Ranjan Gogoi and Justcie S K Kaul.

Sharma had blamed the finance minister of "plundering" the capital reserve of the RBI.

The bench also directed the apex court registry not to permit Sharma to file any PIL till he deposits Rs 50,000.

The top court imposed the cost as the promoter proceeded with the argument after the dismissal of the PIL.

The Chief Justice cautioned him not to proceed with the entries, saying cost will be forced on the off chance that he was unable to satisfy the court.

The apex court expressed displeasure that the supporter made the finance minister as the main party in the PIL.

The bench said: "What is this PIL? You can't go ahead with such misfortune. What precisely is this? You are stating the fund serve is ravaging the capital hold of the RBI.

"We don't buy in to such request and getting on individuals. You are not conveying honor to this organization. For what reason do we allow you to proceed with this PIL."

The promoter had additionally claimed impedance by the Centre in the working of the Reserve Bank.

He submitted that the finance minister favoured waiving loan of up to 55,000 crore given by the PSU banks to conspicuous corporates who have been offering gifts to a specific gathering.

The lawyer said that previously receiving donations from foreign companies was a criminal offence however later the Centre and the back priest acquired changes the arrangements of Foreign Contribution Regulation Act to permit such donations.