"7. ....... lt, therefore, follows that there should be credible material before the licensing autlority, for him, to come to the conclusion that the security of public peace or public safety, is likely to be disturbed by a person to whom a license is granted. And only in such circumstances, a license can be refused to such a person, even if such a person does not attract any of the rest of the prohibitions contained in the Act for being granted the license. Public peace and public safety are not liable to be allowed to be shat(ered by anyone, all the more so, because he has been granted a license to carry or possess a firearm or ammunition. The assessment of the potential threat to public peace and public safery at the hands oI the applicant, cannot be assumed as a matter of course- There should be a valid and reasonable basis for such an apprehension in the mind of the licensing authority to exist, but a mere involvemcnt in a criminal case or cases is no pointer to the potential threat to public peace or public sa[ety. Viewed from this perspective, the fact that in 7 criminal cases, the petitioner has already becn acquitted, must enrlre to thc benefit of the arpplicant / petitioner.'