RAJASTHAN FINANCIAL CORPORATION Vs. RAJENDRA KUMAR

JUDGEMENT

(1.) BY THE COURT: This review petition has been filed on the ground that while deciding the case of M/s NLP Organics Pvt. Ltd. & Ors. Vs. RFC, in SBCMA No. 208/2005 on 21.8.2006, while setting aside the impugned order in that case, this Court had given the liberty to initiate the proceeding under Section 31(1) of the State Financial Corporation Act, 1951 ('the Act, 1951', for short) to the Rajasthan Financial Corporation ('RFC', for short). However, the said liberty has not been given in the judgment dated 15.09.2006. Therefore, a limited prayer has been made that the same liberty should be extended to the RFC in the present case also.

(2.) ON the other hand, Ms. Gayatri Rathore, the learned counsel for respondent No.1, has vehemently contended that the loan amount that is involved is merely Rs.1.86 lacs for which the RFC has already seized the property of the non-petitioner-appellant, namely the truck and the truck has depreciated in value. Therefore, no fruitful purpose would be served by giving the liberty to the RFC to re-initiate the proceeding under Section 31(1) of the Act, 1951.