POWERPLUS POWER UNIT Vs. INDUSIND BANK

JUDGEMENT

(1.) Heard Mr V Premchand, learned Counsel for the petitioners, Mr Renjith R, learned Counsel for R1 to R3, and Mr Mohan Jacob George, learned Counsel for R4.

(2.) The present writ petition under Article 226 of the Constitution of India has been filed seeking inter alia the following reliefs:

(3.) The 1st and the 2nd petitioners have made arrangements, whereby the 2nd petitioner, through M/s Sky Bond Glazing - a partnership firm of which the 2nd petitioner is one of the partners, has agreed to purchase the secured asset. The 4th respondent Bank has sanctioned a loan of Rs.1.50 crores to M/s Sky Bond Glazing for the purchase of the secured asset. A copy of the said communication has been tendered in the Court, which is being taken on record and marked as 'Paper X'.