RESERVE BANK OF INDIA Vs. ESHWARAPPA

JUDGEMENT

(1.) I . These Revision Petitions are filed by the Reserve Bank of India and Maratha Co-operative Bank Ltd. and it is repeatedly contended that once a prohibitory Order under Section 35A of the Banking Regulation Act, 1949 is passed, the Consumer Fora would have no jurisdiction to entertain the complaint and pass an order directing the Bank to pay the amount. In our view, the said submission is without any substance for the reasons stated below:

(2.) FOR this purpose, it would be necessary to reiterate that section 3 of the Consumer Protection Act, 1986 specifically provides that provisions of the Consumer Protection Act, 1986 shall be in addition to and not in derogation of the provisions of any other law for the time being in force. Moreover, similar provision exists in section 2 of the Banking Regulation Act, 1949, which reads as under:

(3.) SECONDLY , the prohibitory order issued under Section 35A of the Banking Regulation Act, 1949, inter alia, provides as under: