2024 (9) TMI 122

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..... 18 (6) TMI 1492 - BOMBAY HIGH COURT] while upholding the constitutional validity and legality of the proviso, particularly by reading it in the manner noted above, we are in agreement that in the facts of this case, the RBI was not bound to put an end to the compounding proceedings. We are of the opinion that the compounding proceedings initiated vide the compounding applications of the petitioner .....

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..... s in paragraph 109 of the impugned judgment. Paragraph 109 itself records that the applications for compounding shall be decided in accordance with law. Hence, no case for interference under Article 136 of the Constitution of India is made out. The Special Leave Petition is accordingly, dismissed. - HON'BLE MR. JUSTICE ABHAY S. OKA And HON'BLE MR. JUSTICE AUGUSTINE GEORGE MASIH For the P .....

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