A lot of other issues are getting submerged in the corona tsunami, as the newsprint, internet and television bulletins are full of Covid-19 stories. One such thing that missed the attention of many is a direction by the Delhi High Court. It has sought the response of the government on a plea for setting up designated courts to deal with violation of a law banning unregulated deposit schemes like ponzi scams. A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to the Delhi government seeking its stand by 22 May on the petition which also seeks appointment of a competent authority as provided under the Banning of Unregulated Deposit Schemes Act, 2019.
The plea by Abhijit Mishra, a financial economist, also seeks formulation of rules for the implementation of the Act. Mishra, in his petition filed through advocates Payal Bahl and Ameet Singh, has said though the law came into effect from February last year, the Delhi government is yet to appoint a competent authority or set up designated courts as provided for under the Act. No rules have also been framed for implementation of the Act, the plea has claimed. It has contended that Mishra had made several representations to the authorities concerned, including the government and the Delhi High Court, to appoint a competent authority and set up designated courts.
However, no action was taken and therefore, he filed the instant petition, Mishra has said. He has further contended that under section 7 of the Act, ‘Government of National Capital Territory of Delhi has to appoint officers who are at the rank of Secretary to the statutory position of the competent authority’. The petition has also claimed that under section 8 of the Act, the Delhi government has to seek concurrence of the high court for setting up the designated courts which are to be presided over by a judge ‘not below the rank of District and Sessions Judge or an Additional District and Sessions Judge’. Mishra has contended that in the absence of rules for implementation of the Act, police officers don’t know the procedure to be followed for prosecution of violations of this law. ‘By virtue of the information received by the petitioner (Mishra) under the Right to Information Act from the High Court of Delhi, the Delhi government has not made any efforts towards appointment of a competent authority, constitution of designated courts and formulation of rules..,’ the petition has claimed. As the government machinery is busy dealing with corona, wrong-doings, including the white-collar crimes, should not go unnoticed.