Delhi High Court decision in case of RBI v. Jindal Steel and Power Limited - Synopsis
Swati Talwar 4 Apr 2021

*Power of RBI to withhold remittance to be made under Automatic route to Wholly owned Subsidiary- cannot be used to reject the remittance on whimsical and arbitrary reasons* 

*Court- Delhi High court*

*Date -26th March 2021*

*Citation-Reserve Bank of India Vs Jindal STeel and Power Limited.*

In this era of globalisation where the global trade is on the rise, the Delhi High court division bench adorned by  CJ in a land mark judgement held that *simply pending investigation and/or at the behest of Enforcement directorate, the remittances which are available under the automatic route can not be withheld without giving due and proper reasons* While dismissing the appeal of RBI, the court upheld the single bench decision and also refused to allow the Enforcement directorate to be joined as a party in the Writ interalia on the pretext that ED was not needed in order to decide the present suit and moreover ED did not intervene before the Single Bench. 


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