MAHAL INDUSTRIES Vs. GOVERNMENT OF INDIA AND OTHERS

JUDGEMENT

(1.) In this writ petition the petitioner, being represented by its proprietor, has sought a direction from the Court to opposite parties 2 and 3 to place the loan account of the petitioner before the committee formed under the Central Government Notification dated 29.5.2015, under Annexure-4, for revival and rehabilitation of the manufacturing unit of the petitioner.

(2.) It is not disputed that the petitioner is a loanee. It has availed term loan as well as cash credit loan from the opposite parties-2 i.e. the Bank. The petitioner has set up an industry for manufacturing of colour profile sheets (roofing sheets). The opposite parties-Bank sanctioned a loan of Rs. 125.00 lakhs on 30.1.2016. It is the case of the petitioner that due to unavailability of raw material and other allied problems coupled with Bank's non-supportive attitude, the petitioner faced lot of problems in manufacturing unit. However, learned counsel for the petitioner submits that the petitioner was regularly paying the instalments and has already paid a sum of Rs. 25 lakhs. In view of the above difficult situation, the petitioner defaulted in some payment. So it requested the Bank for restructuring or rephasement of the loan account. Without going into the merits of the case, the Bank rejected the prayer.

(3.) The petitioner seeks to take advantage of the Central Government Notification for Rival and Rehabilitation of Micro, Small and Medium Enterprises for providing relief to loan accounts experiencing incipient stress. In the said frame work the Bank have been directed to form committee before which the cases of MSME borrowers can be placed for revival. In the said scheme the committee was to chalk out a corrective action plan to resolve the stress in the account in accordance with the procedure as laid down in the said framework. The petitioner claims that it belong to Micro, Small and Medium Enterprises, without specifying whether it is a medium, small or micro industry, and prays for issuing the aforesaid direction.