FALCON RETREAT PVT LTD Vs. EDC LTD

JUDGEMENT

(1.) In this special leave petition the Petitioner has impugned the judgment and order of the High Court of Bombay at Goa dated February 22, 2006 in Civil Writ Petition No.19 of 2006, whereby it dismissed the Writ Petition filed by the Petitioner praying that its proposal contained in letter dated January 18, 2006 be considered and that Respondent No.1, herein, be restrained from selling the assets in question to Respondent No.3.

(2.) We have heard counsel for the parties at length. We have carefully perused the material placed before us. We are satisfied that this is not a fit case for interference by this Court in exercise of its discretionary jurisdiction under Article 136 of the Constitution of India.

(3.) It is not disputed that the Petitioner had committed defaults in payment of dues to Respondent No.1. Action was taken under Section 29 of the State Financial Corporation Act by the aforesaid respondent. The property in question was attached and possession was also taken by Respondent No.1. The property known as Falcon Retreat is a hotel.