POPULAR REALTY Vs. STATE OF GUJARAT & 2

JUDGEMENT

(1.) This petition under Article 226 of the Constitution of India has been preferred with a prayer to issue a writ of Mandamus, quashing and setting aside the communications dated 12.01.2012 (wrongly mentioned as 13.01.2012), addressed to the petitioner by respondent No.2 - Charotar Nagrik Sahakari Bank Limited (In Liquidation) (hereinafter referred to as the "respondent Bank", for short). The petitioner has further prayed to direct the respondents to decide the date of Non Performing Account ("NPA") and the amount due under the OneTime Settlement, considering the cutoff date as 30.03.1999 and, upon receipt of the amount so determined, to issue a "No Due Certificate", in favour of the petitioner.

(2.) The case has a somewhat chequered history, therefore, it would be appropriate to set out its factual matrix.

(3.) The petitioner, who is engaged in the business of real estate and construction, availed of financial assistance of rupees two crores from respondent No.2Bank, in terms of an Agreement dated 15.09.1998. The petitioner defaulted in the repayment of the amount to respondent No.2.