New Delhi: The Supreme Court on Friday dismissed a PIL raising allegations against finance minister Arun Jaitley relating to the capital reserve of the Reserve Bank of India.

The apex court also imposes a cost of Rs 50,000 on advocate ML Sharma, who had filed the public interest litigation (PIL).

Chief Justice Ranjan Gogoi said that it is time to ban Sharma from filing PILs. “Mr. Sharma, the day has come to ban you from filing PILs,” he said.

"We find no reason whatsoever to entertain this PIL," the bench said.

Sharma had accused the finance minister of plundering the capital reserve of the RBI.

The bench also directed the apex court registry not to allow Sharma to file any PIL till he deposits Rs 50,000.

With PTI inputs