THEBIHARCOTTONMILLSLTD Vs. BIHAR STATE FINANCIAL CORPORATION

JUDGEMENT

(1.) In this writ application the petitioners have prayed for issuance of writ of prohibition against respondents No. 1 and 2 restraining them for selling the properties of M/s. Bihar Cotton Mills Ltd. (petitioner No. 1) at Phulwarisharif in Patna by notice dated 2-1-1992.

(2.) The fact of the matter lies in a very narrow compass.

(3.) The petitioner No. 1 had a Cotton Mills at Phulwarisharif Patna and the petitioner No. 2 is the Director of the said Mill. In the year 1975-76 the petitioner obtained financial assistance from the Bihar State Financial Corporation to the extent of Rs. 30 lakhs.