The Supreme Court on Friday rejected a Public Interest Litigation (PIL) raising allegations against Finance Minister Arun Jaitley relating to the capital reserve of the Reserve Bank of India (RBI).
Sharma had alleged that Jaitley wanted to "plunder" capital reserve of Reserve Bank of India (RBI) to waive off loan to certain companies.
The top court came down heavily on Sharma and slammed him for filing frivolous PIL against Jaitley.
The Apex Court imposed a fine of Rs. 50,000 on the lawyer who had filed the petition, saying the Supreme Court registry will not accept any petitions from ML Sharma unless he pays the fine.
A two-judge bench of the apex court, headed by Chief Justice of India (CJI) Ranjan Gogoi said, "We find no reason whatsoever to entertain this PIL.