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CS Professional · Banking and Insurance - Laws and Practice · Regulatory Framework of Banks

An offence punishable under the RBI Act, 1934 is alleged against the officers of Kaveri Chits Ltd. The complaint is properly made by an authorised RBI officer. Before which court can the offence be tried?

Such an offence may be tried only by a Metropolitan Magistrate, a Judicial Magistrate of the first class, or a court superior to them. A second class Magistrate cannot try it, and the Act does not confine trial to the High Court or a Sessions Court.

  1. AAny Magistrate of the second class
  2. BA Metropolitan Magistrate or Judicial Magistrate of the first class, or a court superior to itCorrect
  3. COnly the High Court
  4. DOnly a Sessions Court

Explanation

Section 58E(1) provides that no court other than a Metropolitan Magistrate, a Judicial Magistrate of the first class or a court superior to these may try the offence. A second class Magistrate is therefore excluded, and the High Court is not the only forum.

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