STATE OF KERALA Vs. ICICI BANK LIMITED

JUDGEMENT

(1.) This Writ Appeal is filed by respondents 1 and 2 in Writ Petition No. 7115/2007 who are aggrieved by the judgment of the learned Single Judge, rendered on 25th of July 2012, allowing the Writ Petition.

(2.) We heard the learned Government Pleader appearing for the appellants, the learned counsel appearing for the first respondent/Writ Petitioner and the learned counsel appearing for the 2nd respondent.

(3.) Briefly stated the facts are that the 2nd respondent was an assessee under the KGST Act. The 2nd respondent had availed an overdraft facility from the first respondent bank with an upper limit of Rs. 8,00,000/-. Ext.P1 in the Writ petition is the credit arrangement letter which shows the terms and conditions governing the overdraft facility.