- (1.) The writ petitioner claims to have been carrying on business in the name of East India Chemical Products and East India Trading Company respectively.
(2.) State Bank of India, Ektishaal Branch (hereinafter referred to as the bank) sanctioned credit facilities in the name of the petitioner s concern, M/s. East India Trading Company to the tune of Rs. 5,000,00/- against STDR valued at RS. 50,090/- and/or Rs.17,000/- as collateral security and creation of equitable mortgage of property at Hyderpara in the district of Jalpaiguri.
(3.) Other credit facilities sanctioned by the bank in favour of M/s. East India Chemical Products are as follows : (i) Cash credit to the tune of 3 lakhs; (ii) Clean medium loan to the tune of 1 lakh 95 thousand and; (iii) Medium term loan for RS. 95,000/- against STDR of Rs. 1,000,00/- as collateral security and by creating equitable mortgage in respect of 30 Cottahs of land at Dabgram in the district of Jalpaiguri.;