( 1 ) THE petitioners claim to have filed this writ petition in public interest, seeking a restraint on the Bank of India, respondent No. 5 herein, from issuing shares and collecting money from the public under its public issue of 15 crores shares at Rs. lo each, for cash at a premium of Rs. 35 per share. The petitioners are also seeking inter alia to evolve standard rules in replacement of Government s absolute power to write off losses of Banks. A direction is also sought for an enquiry into damage to records of the respondent-Bank due to a fire.

( 2 ) THE petitioner No. l, Mr. Jagdish Chandra Sharma is reported to be the convener of the newspaper yugantar . The petitioner No. l claims to be attached to several social, cultural, organizations in the capacity of patron. He is a former member of the Agra Development Authority. The petitioner No. l claims to be deeply interested in matters of public importance to the nation and the society at large. Petitioner No. 2 is a society engaged in welfare activities and legal literacy and family counselling etc. Petitioner Nos. 3 to 5 are social workers.

( 3 ) THE petitioners were impelled to file the present writ petition, w