The Supreme Court on Friday slapped a cost of Rs 50,000 on an advocate, M L Sharma who filed a PIL against Finance Minister Arun Jaitley and alleged that he was trying to "plunder" capital reserve of RBI to waive off loans of industrialists.

A bench of Chief Justice Ranjan Gogoi and Justice Sanjay Kishan Kaul said no ground is found whatsoever to entertain the PIL.

The court also directed the apex court's registry not to entertain any PIL by Sharma in future till he deposited the cost.

It pulled up Sharma for filing such a PIL.

"The day has come to bar you from filing further PILs. You have come with some good causes. Why are you spoiling such a petition," the bench asked Sharma.

The court also questioned him for making Jaitely as a party in the petition.

They decided to impose the cost, though Sharma kept on pleading that he was ready to delete the name of minister and amend the petition. The lawyer also submitted he was not fighting for a personal cause.