THE SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA Vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT AND INVESTMENT CORPORATION LTD. THROUGH ITS MANAGING DIRECTOR

JUDGEMENT

(1.) By way of this petition, the petitioner The Small Industries Development Bank of India ('the Corporation'), has questioned legality of order dated 3.6.15 issued by the Regional Manager, Rajasthan State Industrial Development & Investment Corporation Limited (RIICO), Abu Road, whereby the plot allotted in favour of the third respondent Neesa Agritech and Foods Ltd. in Industrial Area Growth Centre, Second Phase, Abu Road, has been cancelled and the lease deed executed stands determined. That apart, the petitioner has also challenged action of the RIICO in refunding the amount of development charges a sum of Rs.18,15,271/- to the third respondent.

(2.) The relevant facts are that on being selected in draw of lot, the third respondent was allotted a plot measuring 10,000 sq. meter at Industrial Area Growth Centre, Abu Road for establishing a food industry vide allotment letter dated 21.4.10, issued by the Senior Regional Manager, RIICO, on the terms and conditions specified. On depositing the development charges quantified at Rs.25,00,000/-, the possession of the plot was handed over by RIICO to the third respondent and lease deed was executed between the parties on 31.3.11.

(3.) The petitioner Corporation sanctioned/disbursed various credit facilities to Neesa Group of Companies which includes the third respondent. To secure the loan, the petitioner Corporation had taken certain properties as primary securities and collateral securities. The plot no.B-2, Industrial Area Growth Centre, Phase II, Abu Road, allotted by RIICO in favour of the third respondent as aforesaid, was taken by the petitioner Corporation as collateral security and for this purpose, no objection certificate was obtained from RIICO.