2017 (2) TMI 655

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.... SRI.R.S.KALKURA JUDGMENT This writ petition has been filed inter alia challenging Exts.P8, P12 and P13 and for a direction to regularise the loan account of the petitioner, by permitting the petitioner to remit the amount which exceeded the sanctioned limit of the credit facilities. Petitioner Company engaged in the seafood business has taken Packing Credit facility and other financial faci....

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....itioner as far as the term loan account is concerned would come to more than Rs. 2.64 Crores and the cash credit limit has exceeded Rs. 6.9 Crores. According to the Bank, the account cannot be regularised as the Unit is not viable. Further, it is submitted that though sufficient opportunities had been granted to repay the amount, no steps had been taken by the petitioner for discharging the liabil....

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....s as per demand notice dated 18.11.2014. 4. It is not in dispute that as far as the relief sought for are concerned, it may not be possible for this Court to interfere as the scope of interference is very limited in respect of proceedings under the SARFAESI Act. The position of law has been well settled by the Apex Court in United Bank of India v.Satyawati Tondon and others [2010 (8) SCC 110]. ....

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....erence is made by this Court in this matter, it would definitely hinder the right of the Bank to proceed further. In the interim order dated 9.4.2015, this Court had further observed that if the petitioner commits default in respect of the payments, it will be open for the respondent Bank to bring up the matter for further orders. It is submitted that after paying the amount as directed in the int....