ESTEEM POLYMER PRODUCTS PRIVATE LIMITED Vs. INTERNATIONAL ASSET RECONSTRUCTION COMPANY PRIVATE LIMITED AND ORS.

JUDGEMENT

(1.) THE petitioner, whose writ petition challenging a possession notice issued by the first respondent under Section 13(4) of the SARFAESI Act was allowed by this Court, has come up with the above application seeking a review of one finding recorded by this Court while allowing the writ petition in their favour.

(2.) WE have heard Mr. Sriram Panchu, learned senior counsel for the review applicant, Mr.N.R. Chandran, learned senior counsel appearing for the first respondent, Ms.L.Poompavai, learned counsel for the second respondent, Mrs.A.Srijayanthi, learned Special Government Pleader appearing for the third respondent and Mr.J.Thilagaraj, learned counsel for the fourth respondent.

(3.) THE fourth respondent herein appears to have approached the first respondent with a proposal for a One Time Settlement, during the period from April -May 2011. Though the last of such offers made on 31.5.2011 was accepted by the first respondent by a letter dated 11.6.2011, the fourth respondent failed to honour its commitment under the proposal.