2012 (10) TMI 370

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....sp; 1. Through the present petition filed under Articles 226/227 of the Constitution of India, the petitioner prays for issuance of a writ in the nature of certiorari for quashing advertisement dated 9.8.2012, Annexure P.14, letter dated 9.8. 2012, Annexure P.13 and notice dated 20/24th October 1997, Annexure P.7 under Section 29 of the State Financial Corporation Act, 1951 (in short, "the Act") ....

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....e Industrial Development Corporation (PSIDC) to the tune of Rs. 75 lacs and Rs. 17.50 lacs respectively. A deed of mortgage was executed between the petitioner-company and the respondent- Financial Corporation. The promoters of the company also contributed Rs. 46.30 lacs for the setting up of the project in question. The petitioner set up the unit in the industrially backward area of Dera Bassi, ....

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....400/- was received direct by PSIDC from the Director of Industries, Punjab on behalf of the petitioner-company. Even after the continuous payments by the petitioner, respondent No.3-Corporation issued a notice dated 20.10.1997 (Annexure P.7) to it to make payment of Rs. 33.43 lacs as principle amount and Rs. 27.07 lacs as interest and expenses by 8.11.1997. The petitioner further asserts that it h....

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....his Court by way of Civil Writ Petition No.16847 of 1997 challenging the proceedings initiated under Section 29 of the Act by the respondent-Corporation on 20/24.10.1997, in pursuance of which possession had been taken over by the Corporation. The said writ petition was withdrawn wherein following order as reproduced in para 15 of the writ petition was passed:- "After arguing the case for some ti....