(1) THIS appeal is directed against the division bench judgment of the High court of Madras dated 7/11/1984 affirming the order of a learned Single Judge dismissing the appellants writ petition made under Article 226 of the Constitution for the issue of mandamus restraining the respondents from enforcing the Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1973 against the appellant.

(2) THE respondent Reserve Bank of India, and its Deputy Chief Officer in the Department of Non Banking Companies (Reserve Bank of India) filed a criminal complaint before the XVI Metropolitan Magistrate, Madras under S. 58-B(5 and 58-E of the Reserve Bank of India Act, 1934 and Section 190(l)(a) of the Criminal Procedure Code against the appellant for contravention of provisions of the Miscellaneous Non- Banking Companies (Reserve Bank) Directions, 1973 hereinafter referred to as the 1973 Directions and issued under the Reserve Bank of India Act, 1934. During the pendency of the criminal proceedings the appellants who are accused in the aforesaid criminal case filed a writ petition under Article 226 of the Constitution before the High court for the issue of a mandamus rest