In Brief
S. Shobha filed writ petitions against Muthoot Finance Ltd., a private non-banking finance company (NBFC), challenging a gold loan transaction and sale. The Supreme Court upheld the High Court's dismissal on jurisdictional grounds. The Court held that a private NBFC is not a "State" under Article 12 and therefore not amenable to writ jurisdiction under Article 226. RBI regulatory guidelines, though binding, do not constitute governmental involvement. Writ remedies are only available against bodies discharging public duties or governmental functions. The Court suggested the petitioner pursue civil remedies, arbitration, or approach the RBI Ombudsman instead.
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