MULIK HOTEL PRIVATE LIMITED Vs. SICOM LIMITED

JUDGEMENT

(1.) THIS application is filed by the petitioners for the following relief;

(2.) IT may be stated that the applicants of this Miscellaneous Civil Application had filed substantive petition being Writ Petition No. 3008 of 2002, inter alia, praying therein that a writ of mandamus be issued against the respondents i. e. respondent Nos. 1 and 2 SICOM Limited and Maharashtra State Financial Corporation, respondent No. 3 directing them to provide a concrete proposal for "one time settlement of the dues" of the petitioners and to act upon it. A prayer was also made by directing respondent No. 1 not to accept a bid of Rs. 145. 21 lakhs as disclosed by the respondent No. 1 in its communication dated 26th July, 2002. Other prayers were also made in the petition.

(3.) A term loan was advanced by the respondent No. 1 to the petitioner to establish a Hotel. The allegations of the respondents is that the amount was not repaid by the petitioner which resulted into sale of unit by the respondents for Rs. 145. 21 lakhs which action was challenged by the petitioners. Notice was issued to the respondents and even ad interim relief was also granted by the Court by ordering not to confirm sale in the meanwhile.