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A public interest litigation has been filed before the Supreme Court seeking a direction or order restraining transaction of cryptocurrencies.
|Case Name and Number||Siddharth Dalmia & Anr. v. Union |
of India & Ors.
WP (C) No. 1071/2017
|Respondent(s)||1. Union of India, Through Cabinet |
2. Ministry of Home Affairs
3. Mistry of Finance Secretary
4. Reserve Bank of India (RBI)
|Tagged matter(s)||Dwaipayan Bhowmick v. Union of India, W.P.(C) No. 1076/2017 |
Rajeep Singh v. Union of India,
W.P.(C) No. 373/2018
Internet and Mobile Association of India v. Reserve Bank India,
W.P.(C) No. 528/2018
11 May 2018
The Court through bench comprising Chief Justice Ranjan Gogoi and Justices AM Khanwilkar and DY Chandrachud granted liberty to the Reserve Bank of India to move an appropriate application for transfer of cases pending in various High Courts on similar issues, to the Supreme Court.
17 May 2018
The Court passed a direction restraining High Courts from entertaining any petition related to the notification dated 06.04.2018, issued by RBI, prohibiting the entities regulated by RBI from dealing in vitual currencies. The Court further directed transfer of the following matters to Supreme Court:
- Kali Digital Ecosystems P. Ltd. v. Reserve Bank of India & Ors.,
W.P. (C)No.3677/2018, pending before High Court of Delhi
- Flinstone Technologies P. Ltd. v. R.B.I. & Ors., W.P.(C)No.4729/2018 pending before High Court of Delhi at New Delhi
- Ayushman Foundation v. R.B.I. & Ors., W.P.(C)No.371/2018 pending before High Court of Calcutta
20 July 2018
The Court directed the matters to be listed for final disposal on the next date of hearing and pleadings to be completed meanwhile.
25 October 2018
Government appointed a committee headed by Subhash Chandra Garg, Economic Affairs Secretary, to draft the norms for virtual currencies. On being apprised of the Committee, the Court passed the following order:
” Let an affidavit be filed by the concerned officer within a period of two weeks from today giving us the stage at which the Committee is deliberating the matter, including the estimated time within which the Government will ultimately come out with its policy decision in the matter.”
17 January 2019
RBI maintained its stand against cryptocurrencies and submitted that it had asked banks to restrain from providing banking services to digital currency systems as it did not want it spreading like “contagion”.
The senior advocates appearing for the parties could not be present as the matter was unexpected to reach. Therefore, final hearing of the matter has been deferred to the last week of February, 2019,