BMW INDUSTRIES LTD Vs. UCO BANK

JUDGEMENT

(1.) The writ petitioner is aggrieved by the actions of the UCO Bank in not granting a concession on the rate of interest on outstanding dues payable. It is stated that the bank had, in fact, agreed to a lesser amount of interest and there is only dispute on the exact liability of the writ petitioner. The difference of opinion is a sum of Rs.15 lacs and is stated to be rather paltry and small. Affidavits have been exchanged.

(2.) Mr. Dhruba Ghosh, learned Senior Advocate, for the writ petitioner has laboriously placed the pleadings to demonstrate that the issue between the parties is narrow and small.

(3.) This Court has carefully heard counsels for both sides and has considered the entire facts of the case. As to how much the bank should accept from the petitioner and at what rate it will close the Loan account, should be left exclusively to the commercial discretion of the bank's. The dispute itself arises out of a private agreement between the writ petitioner and the bank. This Court sees a large number of disputed questions that will emerge in the process of adjudication. A trial on evidence is necessary to decide as to whether the bank was correct or the writ petitioner was right.