SHALINI KHANNA Vs. UNION OF INDIA

JUDGEMENT

(1.) The Petitioner has approached this Court challenging a Lookout Circular issued by Respondent No.1/Bureau of Immigration at the instance of Respondent No.2/Bank of Baroda.

(2.) The facts of the case reveal that in June, 2013, Metaphor Exports Private Limited, a company engaged in the business of garment manufacturing through its Directors Pran Nath Khanna, Mr. Sameer Khanna (the husband of the Petitioner herein) and Ms. Anju Khanna, had approached the erstwhile Bank of Baroda for availing cash credit facilities of Rs.9.00 crore.

(3.) It is stated that the Petitioner executed a Deed of Guarantee for repaying the amount disbursed by Respondent No.2/Bank for the cash credit facilities to be extended by the Bank. The Deed of Guarantee, specifically states that the Guarantee shall not exceed Rs.2.63 crores which is the fair from the value of the property at DLF, Park Place, Gurgaon. The Deed of Guarantee observes that the Petitioner has mortgaged the said property to the company as security for the cash credit for Rs.9.00 crore.