JUDGEMENT 1. By this writ petition filed in the nature of public interest litigation, the petitioner-Council for the Protection of Public Rights and Welfare, has sought for appropriate directions against the respondents for adequate legal actions against the non-banking companies working in different parts of the State of Bihar. The petitioner has alleged that the non-banking companies operating in the State of Bihar have perpetrated fraud to the public and they have duped the people of Bihar to the extent of Rs. 12,000 crores. 2. In view of the seriousness of the issues raised in the writ petition, we find that orders came to be passed from time to time. From the affidavit filed by the Reserve Bank of India on 6th November, 2008, it transpires that in the light of various orders passed by the Court and the grave issues raised in the writ petition, diverse steps have been taken. The information regarding details of all withdrawals from the identified accounts belonging to the defaulted companies has been obtained by the Central Office of Reserve Bank of India and after its consolidation, the said information has been handed over to the Economic Offences Wing of the State Government and the Director for Institutional Finance, Patna for necessary action. A monitoring mechanism desired by the petitioner and in the light of meeting of the counsel appearing for the parties on 7th October, 2008 has been put in place, not only in the State of Bihar, but in all the States. The State Level Coordination Committee comprises of the following members: "I. Secretary-in-Charge (or his representative not below the rank of Deputy Secretary) from the Departments of Home, Law and Finance of the respective State Governments. II. In-charge of the Economic Offences Wing of the State Police (or his representative not below the rank of Deputy Superintendent of Police). III. Registrar of Companies or his Senior Level representative. IV. A senior level representative from SEBI. V. A senior level representative from NHB. VI. Officials of the Reserve Bank of India alongwith representative from the Central Office. VII. Any other senior level representative Government officials where there is any area of concern which is not covered by the above officials. The SLCC looks into matters relating to: (a) Compliance by NBFCs with CLB orders passed against them. (b) Redressal of depositors grievances-working of the cells set up by the State Governments. VII. Any other senior level representative Government officials where there is any area of concern which is not covered by the above officials. The SLCC looks into matters relating to: (a) Compliance by NBFCs with CLB orders passed against them. (b) Redressal of depositors grievances-working of the cells set up by the State Governments. (c) Filling of gaps, if any, in the regulatory framework. (d) concerted/coordinated action against delinquent/vanishing NBFCs. (e) Requesting State Governments for enactment of laws for the protection of depositors. (f) Seeking the involvement of the State Machinery in the Reserve Banks efforts to ensure that only those NBFCs registered with the Bank carry on the business of financial activities and accept public deposits as permitted under the Banks directions. (g) Activities of multi-level marketing organizations/operations of commodities marketing schemes, pigmy deposit schemes, time share schemes, club membership schemes and schemes attracting the provisions of Prize Chits and Money Circulation Schemes (Banking) Act, 1978)." 3. It also appears that necessary steps have already been taken by the Reserve Bank of India to ensure that fly by night operators do not commence or run non-banking companies; stringent entry point norms have been fixed. As a matter of fact, as per the affidavit of Reserve Bank of India, no new non-banking Company has been granted certificate of registration in the State of Bihar. 4. The Reserve Bank of India have also stated that steps have been taken to educate the depositors in the State of Bihar and create awareness amongst them and for that 100 copies of bilingual posters in Hindi and English were displayed in 100 post offices in the State of Bihar during the month of May, 2008, Around 1551 copies of the said posters have been sent to different banks in the State of Bihar and Jharkhand for displaying it in prominent public places. The Registrar of Companies, Bihar and Jharkhand have also been provided with 100 copies of such posters. By this awareness, the prospective depositors have been informed that the deposits with non-banking financial company are neither insured nor guaranteed and that well informed decision must be taken by them before making such investment. The Registrar of Companies, Bihar and Jharkhand have also been provided with 100 copies of such posters. By this awareness, the prospective depositors have been informed that the deposits with non-banking financial company are neither insured nor guaranteed and that well informed decision must be taken by them before making such investment. It has also been clarified that the deposit mobilization schemes of the companies engaged in other activities such as plantation, commodities trading, manufacturing, Housing Finance, Multi-Level Marking Companies, Nidhis (Mutual Benefit Financial Companies) and Potential Nidhis (Mutual Benefit Company) and companies engaged in collective investment schemes, do not come under the regulatory purview of the Reserve Bank of India. 5. The Reserve Bank of India also seems to be organizing seminars/workshops for the District Level State Government Officials of the States of Bihar and Jharkhand to sensitise them on the issues pertaining to the functioning of non- banking financial company. Two such seminars/workshops were held on 25th March, 2008 and August 20, 2008. Against some of the non-banking financial company, particularly, Helios Group of Companies, Helios Corporation Limited and Kuber Groups of Companies, details of the actions have been stated. 6. Having considered the steps taken by the Reserve Bank of India, as indicated above, we are satisfied that Reserve Bank of India has been regulating non-banking financial companies rigorously and properly. The Reserve Bank of India has also started programmes for educating the prospective investors and monitoring mechanism has been put in place. We are, thus, satisfied that no further order needs to be passed in this writ petition. The public cause espoused by the petitioner by means of this public interest litigation has been well served by the actions taken by the Reserve Bank of India and the other necessary institutions. 7. Writ petition is disposed of accordingly.