- (1.) THE petitioner in this writ application has inter alia prayed for the following reliefs "a) A Writ in the nature of Mandamus commanding the respondents to cancel and/or rescind the fetters dated 7th February, 1996 and 17th May, 1996 respectively issued by the Branch Manager, bank of Maharashtra, Rash Behari Branch and Deputy General manager (Credit), Bank of Maharashtra. Central Office, Pune addressed to the petitioner b) A Writ of Mandamus commanding the respondents to act according to law and to charge interest to the petitioner's account only in accordance with the guidelines issued by the Reserve bank of India as referred to in the petition and directing to refund all or any amount charged In excess of the rate of interest allowed by the guidelines of the RBI in respect of the PCFC scheme; c) A Writ in the nature of Mandamus commanding the respondents to issue necessary 'no Objection Certificate' in favour of the petitioner allowing the petitioner to open its Packing Credit a/c. with any other Bank; d) Writ in the nature of Mandamus do issue commanding the respondent Union Bank of India to show-cause as to why the letters dated 10th October. 1996 and dated 12th November, 1996 issued by Branch Manager, of Union Bank of India, Manicktola branch, should not be cancelled and/or set aside; e) Writ in the nature of Mandamus do issue commanding the respondent Bank of Maharashtra to cancel and/or rescind the letter dated 5th December, 1996 issued by Branch Manager of bank of Maharashtra, being Annexure 'q' to the Writ Petition. f) Writ in the nature of Certiorari do issue commanding the respondents to produce all relevant orders circulars and records in the matter before this Hon'ble Court. "
(2.) THE fact of the matter is not much in dispute.
(3.) IN the year 1986 the petitioner applied for grant of Packing Credit loan before the respondent Bank against confirmed orders from foreign buyers. During the period 1986-87 to 1995-96. the value of goods exported to different buyers through the said bank for which it actually received the bill amount worth Rs. 4. 60 crones. The balance in the said P. C. F. C. A/c. was nil in the name of the petitioner. It has further been stated that from April, 1993 to September, 1996 the respondent bank realised and appropriated an aggregate sum of Rs. 87,95,000/-by way of adjustment against F. D. I. R. E. E. F. C. A/c. and bill payment A/c. On 25th June, 1993 a sum of Rs. 25 lacs was sanctioned by way of Packing Credit which was subsequently enhanced to Rs. 35 lacs.;