MARIS SPINNER LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Challenging the order of the second respondent dtd. 31/10/2018 rejecting the request of the petitioner to disburse the interest subsidy of 4% under TUFS, the present writ petition has been filed and also for a consequential direction to the third respondent for payment of Rs.1,97,36,557.00 reflecting the Quarterly interest subsidy at 4% along with a delayed interest at 12% per annum to the petitioner.

(2.) Brief facts leading to filing of this writ petition are as follows:-

(3.) Counter has been filed by the respondents 1 and 2 admitting the sanctioning of loan of Rs.10.00 crores and stated that the claim was supposed to have been submitted within six months from the date of sanction, i.e., 14/12/2010. In case of inadequate response from the bank, the petitioner ought to have approached the second respondent throught online appeal in light of the circular dtd. 28/1/2009 in No.28(19)/2008-MS under para 1(iv)(a) for coverage under TUFS. Since, the third respondent has submitted the term loan of the petitioner as "Left out case" only on 10/10/2014 to the second respondent, the first respondent has decided not to extend the benefit of the TUFS scheme to the Left Out Cases. In the absence of the non- adherence of the terms of conditions of the various circulars/notifications/memorandums of the first respondent, the petitioner cannot plead ignorance of the non-uploading of the details of the sanctioned term loan as per the conditions and is estopped from claiming subsidy as a matter of right and therefore, this petition is liable to be dismissed in limine.