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Reserve Bank of India v. Jayantilal N. Mistry

§81e fiduciary applies only in strict classical sense; regulator-regulated is not fiduciary. Reserve Bank of India v. Jayantilal N.

Reserve Bank of India v. Jayantilal N. Mistry

Reserve Bank of India v. Jayantilal N. Mistry (Supreme Court of India, 2015-12-16) (2016) 5 SCC 136 is a ruling on the Right to Information Act, 2005 — Sections 8(1)(d), 8(1)(e), 8(2). §8(1)(e) fiduciary applies only in strict classical sense; regulator-regulated is not fiduciary. Section 8(1)(e) fiduciary exemption is confined to the strict classical fiduciary relationship — doctor-patient, lawyer-client, trustee-beneficiary, priest-penitent.

Holding

§8(1)(e) fiduciary applies only in strict classical sense; regulator-regulated is not fiduciary.

Ratio

Section 8(1)(e) fiduciary exemption is confined to the strict classical fiduciary relationship — doctor-patient, lawyer-client, trustee-beneficiary, priest-penitent. The relationship between RBI and the regulated bank is not fiduciary. Bank inspection reports and willful-defaulter lists must be disclosed where public interest is involved.

Section(s) applied

  • Section 8(1)(d)
  • Section 8(1)(e)
  • Section 8(2)

Practitioner takeaway

Bank inspection reports + defaulter list disclosable; PI override applies.

Citation

  • Citation: (2016) 5 SCC 136
  • Court: Supreme Court of India
  • Date: 2015-12-16
  • Outcome: dismissed
  • Reporter / Cause-list: (2016) 5 SCC 136