A division bench of Justice V M Kanade and Justice P D Kode heard a petition filed by agriculturist Parisa Desai (76) and another seeking criminal action against Parshwanath Cooperative Bank Limited, including its 14 directors. It also impleaded four auditors, the Reserve Bank of India and former minister for cooperation Harshvardhan Patil.
The petition alleged that the bank’s management was conducting its affairs in a manner highly detrimental and prejudicial to the interest of its depositors and borrowers.
The bank’s advocate Amit Borkar said the bank has initiated recovery proceedings against the brother of the petitioner and the PIL has been filed “as a counter-blast”.
Prosecutor Sandeep Shinde said the statutory auditor’s report had suggested that criminal action can be initiated. The bank challenged it before the minister who quashed it. Shinde said unless Patil’s order is set aside, the police cannot register an offence.
The judges said the HC has said in several cases that frivolous PILs should not be allowed to be filed when there is no public interest disclosed and that exemplary cost should be imposed on such petitioners. The judges directed that the petitioner pay Rs 5 lakh within four weeks to the state. If he fails to pay, the cost will be recovered as arrears of land revenue.
—TNN