KUNDLAS LOH UDYOG Vs. UNION OF INDIA

JUDGEMENT

(1.) At the outset, it may be mentioned that this Court is not deciding the factual issues and is confining its findings to the legal issues involve in the instant petition.

(2.) The instant petition under Article 227 of the Constitution of India has been filed for grant of the following relief:-

(3.) The petitioner deals in the work of Iron and Steel for which it purchases raw material and thereafter manufactures the final products as per the demand. As per the petitioner, it has the bank accounts in the nature of 'Over Cash Credit' (OCC Account)/ 'Cash Credit (CC)' with HDFC bank (respondent No.2) and YES bank (respondent No.3) with the huge debit balance.