High Court rules Article 226 not applicable as RBI inspection leads to board supersession and administrator appointment.

Supersession of Board of Directors of respondent No.2 - appointment of the administrator further mentioning that respondent No.1 intends to shortly initiate the process of resolution of respondent - inspection conducted by the RBI - inspection revealed serious deterioration in its financial position. - The present is not a fit case where for invocation of extra ordinary jurisdiction under Article 226 of the Constitution of India. - HC .....

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