SAROJ JAIN Vs. M.P.F.C. AND ORS.

JUDGEMENT

(1.) By filing this writ under Articles 226 and 227 of the Constitution of India, the petitioner has challenged the contentions of the telegram sent by the respondent M.P.F.C. (Annexure P11) to the petitioner. The impugned telegram which is under challenge reads as under :

(2.) Heard Mr. Dalal, learned Counsel for the petitioner and Mr. Shekhar Bhargava, learned Senior Counsel with Mrs. Ritu Bhargava for respondents.

(3.) Having heard the learned Counsel for the parties and having perused the record and in particular the impugned telegram (Annexure P11), I really find no substance in the writ at this stage at least. It is the right of the respondent M.P.F.C. to demand their outstanding amount which according to them are payable by the petitioner against the loan advanced by MPFC. It is then for the petitioner to justify that either she has paid the entire loan in terms of the loan agreement to the respondents thereby leaving no balance which may entitle the respondent to invoke the extreme step of takin over of the Unit under Sec. 29 of the State Financial Corporation Act, or any other remedy that may be available to them for necessary of the balance by resorting to any other provision of the Act.