Mr. Akshay N. Patel Versus Reserve Bank of India and Another

Madhya Pradesh High Court (Division Bench (DB)- Two Judge)

WRIT PETITION, 7902 of 2020, Judgment Date: Oct 08, 2020

Ban of export in respect of KN95 Masks, Personal Protective Equipment Kits and other products does not amount to violation of fundamental right guaranteed under Article 19(1)(g) of the Constitution of India. Its a purely policy matter and the Government of India does have the power to frame Trade Policy in exercise of powers conferred under the Foreign Trade (Development & Regulation) Act, 1992.

The Circular issued by Reserve Bank of India dated 23/01/2020 in respect of Merchanting Trade Transactions is not at all violative of Article 19(1)(g) of the Constitution of India and the Government does have the power to regulate import / export and to regulate Merchanting Trade Transaction Contracts.

Mr. Akshay N. Patel Versus Reserve Bank of India and Another