Sengupta, J.: This appeal has been preferred by the Reserve Bank of India against an interim order dated 7th October, 1988 passed by a learned Single Judge of this Court on the writ petition filed by the first respondent challenging, inter alia, the constitutional validity of the Residuary Non-Banking Companies (Reserve Book) Directions, 1987 framed by the Reserve Bank of India in exercise of powers conferred by sections 45J and 45K of the Reserve Bank of India Act, 1934 as also a purported show cause notice dated 23rd September, 1988. By the said interim order, the learned Single Judge bad granted an interim order in terms of the prayers (g) and (h) of the writ petition. It was however, provided that the interim order would not prevent the Reserve Bank of India to have regular inspection of the writ petitioners business in accordance with law. By the said order liberty was given to the Reserve Bank of India to apply for variation of the interim order on notice to the writ petitioners. Prayers (g) and (h) for the sake of convenience, are set out herein-below :-

"(g) Injunction restraining the respondents and each of them, their servants, agents or assigns from giving any eff