2015 (1) TMI 674

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....e Petitioner. Shri Amit Mahajan, for the Respondent. ORDER Certain term loans were sanctioned to a borrower by the name of Hans Pharmaceutical and Chemical Pvt. Ltd. by PICUP and UPFC. The borrower having defaulted, actions were taken under Section 29 of the State Financial Corporation Act, 1950. On 21 November 1994, the petitioner purchased the assets of the borrower from PICUP. On 24 Au....

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....f approximate to Rs. 21 lacs. In the meantime, on 29 May 2012 an order of attachment was levied by the Assistant Commissioner, Central Excise Division, Jhansi. The grievance of the petitioner is that as a result of the order of attachment, it is not able to utilise the Unit and hence the attachment should be lifted. 2. The records before the Court would indicate that the order of attachmen....