SURENDRA J KOTWAL Vs. ORIENTAL BANK OF COMMERCE

JUDGEMENT

(1.) THE petition is taken up for final hearing and disposal today in light of the view that the Court is inclined to adopt. RULE. The learned advocate for the respondent-Bank is directed to waive service of rule.

(2.) THE petitioner has prayed for following reliefs:

(3.) THE petitioner is the Chairman and Managing Director of a limited company, namely, M/s. Digital Multi Forms Limited (the Company ). In 2002 the Company sought certain financial facilities from the respondent-Bank towards term loan, working capital and letter of credit. It appears that the Company had also availed of certain financial facilities from the Gujarat Industrial Investment Corporation (GIIC ). The Company failed to discharge its outstanding liabilities qua the respondent-Bank as well as GIIC. The GIIC had already initiated proceedings for recovery by way of Regular Civil Suit No. 723 of 2005 filed before the City Civil Court, Ahmedabad.