A bench headed by Chief Justice DY Chandrachud said that the main relief sought in the petition is more in the nature of a legislative direction. The bench, also comprising Justices JB Pardiwala and Manoj Mishra, said that though the petition is under Article 32 of the Constitution, it is clear that the real purpose is to seek bail in the proceedings pending against the petitioner.
The Supreme Court has refused to hear a plea seeking directions to the Center and others to frame guidelines for regulation of trading and mining of cryptocurrencies. Cryptocurrencies are blockchain-based digital or virtual currencies that operate independently and not from a central bank.
A bench headed by Chief Justice DY Chandrachud said the main relief sought in the petition is more in the nature of a legislative direction. The bench, also comprising Justices JB Pardiwala and Manoj Mishra, said that though the petition is under Article 32 of the Constitution, it is clear that “the real object is to seek bail in the proceedings pending against the petitioner.”
He said, “We are unable to accept this action. The petitioner will be at liberty to approach the appropriate court for grant of regular bail. So far as the main reliefs are concerned, they are in the nature of a legislative direction which the court can exercise under Article 15 of the Constitution. Cannot be issued under section 32.”
