MAPSGLOBAL CONSTRUCTIONS PVT. LTD. Vs. SUPERINTENDING ENGINEER

JUDGEMENT

(1.) The petitioners challenge Ext.P2 notice issued by the 3rd respondent.

(2.) The 1st petitioner is a Private Limited Company and the 2nd petitioner is its Managing Director. The petitioners state that they bid a tender for construction work in Kottayam and Kozhikode Districts. The petitioners entered into an agreement on 28/10/2022 with the Kerala Water Authority (KWA) in this regard.

(3.) The 3rd respondent-Kerala Financial Corporation sanctioned a line of credit of ?20 Crores to the petitioners. The petitioners have given co-obligants and have created equitable mortgage over secured properties. The 3rd respondent disbursed ?15,72,82,000/- for funding the work awarded by the KWA.