Writ Petitions Not Maintainable Against Private Companies in Banking
In S. Shobha v. Muthoot Finance Ltd., the Supreme Court of India clarified that a private financial institution, such as Muthoot Finance, is not automatically considered a "State" under Article 12 of the Constitution, even if it is regulated by the Reserve Bank of India (RBI). Consequently, it is generally not subject to writ jurisdiction under Article 226, unless it is performing a public function.