1 wp.1598.10.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL WRIT PETITION NO.1598 OF 2010 Prakash Raghunath Shenai ...Petitioner Versus State of Maharashtra & Anr. ...Respondents ...... Mr.Prakash Shenai, Applicant in-person. Mr.J.P.Yagnik, A.P.P. for Respondent No.1. Ms.Rebecca Gonsalves for Respondent No.2. ...... CORAM:- A.M.KHANWILKAR AND U.D.SALVI, JJ. DATED:- SEPTEMBER 14, 2010. P.C. 1. Heard Petitioner, who is appearing in-person, learned A.P.P. for the State and Ms.Gonsalves for Respondent No.2. 2. By this Petition, following reliefs are claimed: “(a) THAT this Hon’ble Court be pleased to direct the Commissioner of Police, Mumbai to assess, and give adequate protection of life to the Petitioner and his family immediately; (b) THAT the Commissioner of Police through Economic Offences Wing be directed to investigate (List of probable persons involved is given in annexure A) the owners of telephone numbers from where the threatening Calls have originated in the Complaint, and find out the real persons behind the entire plot and file charge sheet and prosecute them 2 wp.1598.10.sxw under MOCCA / & relevant sections of Indian Penal Code against the persons who are found guilty in investigation within 60 days and file a report in this Hon’ble Court with detailed action taken/proposed to be taken within 90 days. (c) Reserve Bank of India be directed to formulate guidelines for Credit Card issuing Banks & Financial Institutions on Similar lines of the Act passed & implemented by United States of America on 22nde February 2010 & whichever is suitable & proper for Indian Financial System and the Public Citizens. (d) Reserve bank of India be directed to formulate guidelines for Credit rating agencies on the following lines if this Hon’ble Court thinks it proper & suitable. (i) Credit Rating agencies should only include names of persons against whom a Decree is passed by any Court and the person concerned is given 30 days notice before the person is put on defaulters list, to put forward his views. (ii) Credit rating agencies should cancel the names of persons from the list on completion of 3 years from date of Decree. (iii) Credit rating agencies must make available to any Citizens the list of persons in the list with details as to why and on whose complaint the persons name is included. (iv) Reserve Bank of India should direct all Credit Card issuing Banks and Financial Institutions that credit Card issuers can charge interest at the rate of 24% per annum only on the outstanding balance after giving 45 days of Credit to the Credit Card holder instead of the present system of 3.1% on total amount irrespective of whether it is outstanding or not. (v) Reserve Bank of India should direct all Credit Card issuing Banks and Financial Institutions that credit Card issuers can charge interest only the goods & Services availed by the Credit Card Holder and not on Penalty and Service charges. (e) For ad-interim and interim reliefs in terms of prayer (b) and (d). (e) For costs; (f) Such further and other reliefs as the nature and circumstances of the Case may require.” 3 wp.1598.10.sxw 3. Insofar as reliefs (c) and (d) are concerned, the same will have to be answered on the basis of the guidelines already formulated by the Reserve Bank of India regarding Credit Rating Agencies Exhibit 7 to the reply affidavit and Credit Card Operations of Banks. The latter guidelines have been formulated on July 1, 2009. Whereas, the guidelines regarding Credit Rating Agencies have been formulated in 1999. If the Petitioner has any suggestion with regard to these guidelines, he is free to make representation to the appropriate Authority of the Reserve Bank of India. We hope and trust that the said Authority will consider the suggestions given by the Petitioner on its own merits and take appropriate decision, as may be advised. 4. The grievance of the Petitioner is that the guidelines already framed are not being complied by the concerned Authority, even that grievance will have to be made before the appropriate Authority and if the Petitioner is able to demonstrate breach of any of the guidelines, we are certain that the appropriate Authority will take necessary steps as may be required. 5. In view of the above, nothing survives for consideration insofar as 4 wp.1598.10.sxw prayer clauses (c) and (d) are concerned. The Petitioner is not pressing prayer clause (a). He submits that he would be more than content if reliefs in terms of prayer clause (b) were to be granted. 6. In regard to prayer clause (b), learned A.P.P. is justified in pointing out that the complaint which was made by the Petitioner in the past discloses a non-cognizable offence and it was therefore registered as NC. If the Petitioner has any other grievance or wants to lodge fresh complaint, he is free to do so. That complaint can be filed before the local Police Station at Samta Nagar, Kandivli (East) within whose jurisdiction the Petitioner is residing. Depending on the allegations in the said complaint, the local Police Station would take such measures as may be required in accordance with law. In view of this assurance, nothing survives for consideration even in prayer clause (b) of the Petition. 7. Accordingly, Petition is disposed of on the above terms. (U.D.SALVI, J.) (A.M.KHANWILKAR, J.)