DHARANIDHAR KARIMOJJI Vs. UNION OF INDIA

JUDGEMENT

(1.) The Petitioner before this Court has filed this present Petition in public interest under Article 226 of the Constitution of India stating that he holds a Bachelor of Technology Degree and is working as Freelancer in digital marketing.

(2.) The Petitioner has prayed for issuance of an appropriate writ or direction directing the Respondents to regulate and control working of online digital lenders doing the business of lending through Mobile Applications or any other platform, as well as restraining them from charging exorbitant interest on loan from borrowers, to restrain the lenders from harassing the borrowers and to save the borrowers from recovery agents and to fix the maximum interest of rate chargeable by online digital lenders.

(3.) A prayer has also been made to set up Grievance Redressal Mechanism for borrowers in every State/ Union of India.