R.M. Borde, J.

1. Petitioner No.1Jayaswal Neco Industries Limited (JNIL) is a public limited company incorporated under the Companies Act, 1956, having its registered office at Nagpur.

2. The challenge raised in the instant Petition is in respect of the action of the Reserve Bank of India (RBI)Respondent No.1 herein, of( a) retrospectively applying the internal communications dated 29 September 2017 and 30 November 2017; (b) stalling the implementation of final executed Master Restructuring Agreement (MRA) dated 12 December 2017, executed by 10 out of 12 lenders (which corresponds to approximately 91% of creditors by value); (c) failing to consider or respond to Petitioner No.1's representations dated 15 December 2017, 16 December 2017, 22 December 2017 and 26 December 2017 and; (d) not considering and discrediting the credit opinion obtained from SMERA, which is one of the accredited Credit Rating Agency (CRA), in terms of its circular dated 13 June 2017 and directing Respondent No.2State Bank of India (SBI) to appoint third CRA i.e. India Ratings and Research Private Limited (IRRPL) on 7 December 2017, for the purpose of obtaining fresh credit rating by Respondent No.2SBI