EVA SETH Vs. UNION OF INDIA

JUDGEMENT

(1.) THE petitioner in this writ application has inter alia prayed for the following reliefs

(2.) THE fact of the matter is not much in dispute.

(3.) IN the year 1986 the petitioner applied for grant of Packing Credit loan before the respondent Bank against confirmed orders from foreign buyers. During the period 1986-87 to 1995-96. the value of goods exported to different buyers through the said bank for which it actually received the bill amount worth Rs. 4. 60 crones. The balance in the said P. C. F. C. A/c. was nil in the name of the petitioner. It has further been stated that from April, 1993 to September, 1996 the respondent bank realised and appropriated an aggregate sum of Rs. 87,95,000/-by way of adjustment against F. D. I. R. E. E. F. C. A/c. and bill payment A/c. On 25th June, 1993 a sum of Rs. 25 lacs was sanctioned by way of Packing Credit which was subsequently enhanced to Rs. 35 lacs.