JUDGMENT

1. The petitioner in this petition under Article 226 of the Constitution of India seeks to challenge the Expression of Interest (hereinafter referred to as `EoI') invited by the respondent no.2-Bank of Baroda (hereinafter referred to as `BoB') dated 14.12.2022 for the purposes of acquisition of stake holding of the BoB in respondent no.4-Nainital Bank Limited (hereinafter referred to as `NBL').

2. Mr. Prashant Bhushan assisted by Ms. Cheryl D'Souza and Ms. Alice Raj, learned counsel appearing on behalf of the petitioner states that the decision of inviting EoI is arbitrary, illegal and the same is in violation of the recommendations made by the Parliamentary Committee as well as by the Ministry of Finance (hereinafter referred to as `MoF'). He submits that the BoB in the year 2006 had also shown interest in merging the NBL into the BoB. Learned counsel for the petitioner further submits that if the communication dated 15.09.2005 issued by the Reserve Bank of India (hereinafter referred to as `RBI') to the BoB is perused carefully, the same would indicate that the permission was granted by the RBI to the BoB to retain its existing holding in the NBL, subject to the condit