- (1.) Both the aforementioned writ applications with the consent of the parties were taken up for hearing together and are being disposed of by this common judgment.
(2.) The fact of the matter is not much in dispute.
(3.) On 26th April, 1991 a term loan of 6.44 lacs was sanctioned by the respondent-corporation on 6 terms and conditions contained in the sanctioned letter which was released in between the period January, 1992 and May, 1992. The petitioner admittedly defaulted in making the quarterly instalments and on a prayer made for extension of repayment schedule, the moratorium period was extended by an order dated 20th July, 1993. On 18-2-94 and 22-8-94 the petitioner prayed for extension of time of moratorium period as also extension of time to pay principal and interest and by an order dated 5-10-94 the prayer for rephasement was allowed by the respondent-corporation.;