ICICI LTD Vs. PASSPORT OFFICER BANGALORE

JUDGEMENT

(1.) THIS is an unusual writ petition filed by a Public Limited Company which is also a financial institution lending money to various institutions and individuals.

(2.) IT appears, the petitioner institution had advanced certain amounts in favour of a Limited Company, the repayment of which had been guaranteed by respondents 2, 3 and 4. The borrower and the said respondents having defaulted in the repayment, had instituted proceedings for recovery of the same by filing O. A. 787/98 before the Debt Recovery Tribunal, Bangalore.

(3.) THE respondents having failed to appear before the Tribunal, the original application filed by the petitioner institution (O. A. No. 787/98) appears to have been allowed and the Debt Recovery Tribunal is in the process of issuing Recovery Certificate in respect of respondents 2, 3 and 4.