MADHAVA JEE PRASAD S/O SRI VISHWANATH PRASAD Vs. BIHAR STATE FINANCIAL CORPORATION, FRASER ROAD, PATNA THROUGH ITS MANAGING DIRECTOR

JUDGEMENT

(1.) Heard learned counsel for the parties.

(2.) Justifying the action of the respondent and rejecting the writ application of the petitioner would amount to giving premium over the inefficiency and incompetence of Bihar State Financial Corporation as demonstrated by the petitioner in the present writ application. If what has emerged from the pleadings of the parties the petitioner is being put on the cross by the respondents for their incompetence.

(3.) The origin of the present dispute relates to the time when the Small ScaJe Industrial unit known as M/s Ferro Concrete Industries came to be established in the backward district of Saran some time in mid 1970. Industry was engaged in the manufacturing of PSC poles. Obviously the resources not being adequate they approached the respondent Bihar State Financial Corporation for sanction of loan of Rs. Five lakhs. The initial sanctioned loan stood repaid alongwith interest.