PARTHAS TEXTILES Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) The petitioner is before this Court seeking to reconsider the request made by the petitioner in Ext.P4 application and to direct respondents 2 and 3 to provide request letter to the 4th respondent for issuing 'No Objection Certificate' for lending of Emergency Credit Line Guarantee Scheme (ECLGS) for the proportionate 20% of credit facilities availed by the petitioner from the 4th respondent, as per Ext.P1 scheme. The petitioner has sought for a further direction to 2nd and 3rd respondents to extend Ext.P1 Emergency Credit Line Guarantee Scheme to the petitioner, by providing a pre-approved loan upto 20% of the loan outstanding as on 29.02.2020, with respect to the financial facilities enjoyed by the petitioner with the 4th respondent.

(2.) The pleadings in the writ petition would show that the petitioner has applied for the benefit under Ext.P1 Emergency Credit Line Guarantee Scheme (ECLGS) from the 2nd respondent. The petitioner is a customer of the 2nd respondent-Bank. It is an admitted position that the 2nd respondent has already granted credit facility of 20% of the outstanding loan amount, to the petitioner in the light of Ext.P1 Scheme.

(3.) The case of the petitioner is that the petitioner has credit facilities with the 4th respondent Financial Institution also and in the light of Ext.P1 Scheme, in case a borrower wishes to take from any particular lender an amount of more than the proportional 20% of the outstanding credit that the borrower has with that particular lender, a 'No Objection Certificate' would be required from such lender whose share of ECLGS loan is being proposed to be taken from the particular lender. What the petitioner seeks from the 2nd respondent is additional 20% loan amount under the ECLGS, in respect of the credit facility maintained by the petitioner with the 4th respondent Financial Institution.