IN THE HIGH COURT OF CALCUTTA

Justice Bhagabatiprosad Banerjee & Justice Asok Kumar Chakravarty

Reported in AIR 1997 CAL 18

State filed PIL to protect the interest of millions of small depositors in residuary non-banking companies which were not conducting their business in accordance with directives of the Reserve Bank of India is maintainable. PIL can be brought to court for the purpose of upholding the rights of the people, who are poor and who are under the veil of ignorance of their rights and obligations. Reserve Bank directed to take suitable steps to protect the interests of small depositors so that they get their deposits with interest back within specified time limit.