- (1.) Affidavit of service be kept with the record.
(2.) By filing the instant application it is alleged by the plaintiff/petitioner obtained term loan for a sum of Rs.75,00,00,000/- from the defendant/opposite party for construction of a five star hotel at New Town, Rajarhat. The said loan was sanctioned on condition that the Regional Manager of the defendant-bank would ensure that the extension of original date of Commencement of Commercial Operation (DCCO) of the project should be in line with the Reserve Bank of India guidelines. The said loan was duly secured by the petitioner by executing a deed of mortgage in favour of the defendant-bank dated 30th March, 2017 and a deed of declaration dated 22nd June, 2017. In terms of loan agreement, the petitioner regularly deposited instalments with the bank for repayment of the said loan. Accordingly DCCO was deferred for one year by an extension with effect from 30th April, 2018 to 30th April 2019 without consequent shifting in the repayment. By a communication through e-mail dated 21st May, 2019, the defendant informed the petitioner that the authorised officer of the defendant visited the project site on 15th May, 2019 and found that the project was still incomplete. Therefore, the bank proposed to convert the loan account to a non-performing asset (NPA). In view of such unilateral decision taken by the bank, the petitioner was supposed to repay the loan in full before 30th June, 2019. The petitioner in turn made a communication with the bank on 16th July, 2019 stating, inter alia, that the petitioner is entitled to deferment of DCCO and consequent shifting for repayment for a further period of three years from the date of original DCCO. However, the bank declined to extend the said DCCO for further period of three years. In the mean time, the petitioner has completed its project and applied for occupancy certificate before the concerned local authority till date such occupancy certificate is not issued by the local authority. It is further stated by the petitioner that it already paid a sum of Rs.25.77 lacks in favour of the petitioner since the defendant refused to defer the DCCO in term of the Master Circular, the petitioner filed CS 145 of 2019 for declaration, permanent injunction and consequential reliefs.
(3.) The petitioner moved an application for temporary and ad-interim injunction being G.A No.1826 of 2019 on 8th August, 2019. A Coordinate Bench of this Court passed the following order:- "Considering the facts of the case, I am of the opinion that the merit of the contention raised by the petitioner can be decided only after granting the opportunity to the petitioner to file their affidavit-in- opposition. Accordingly, the respondent is directed to file their affidavit-in- opposition to the petitioner as well as two supplementary affidavits filed by the petitioner within three weeks from date; reply thereto, if any, be filed two weeks thereafter. The application will appear, under the heading, 'Adjourned Motion' on September 25, 2019. The point of maintainability of the suit as well as the application shall be decided at the time of hearing of this application.";