Court Dismisses Writ Petition: Credit Rating Downgrade by Private Entity Not Addressable Under Article 12. Alternative Remedies Available.

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....Downgrading petitioner's bank loans' rating to 'IND BB+' from 'IND BBB - As third respondent is a private body and not a “State” within the meaning of Article 12 of the Constitution and by rating its clients, the third respondent is not discharging any public function and the subject matter involves analysis by financial experts and the petitioner is having effective alternative remedies, we dismiss this writ petition as not maintainable. - HC....