- (1.) This is an application made by the petitioner Central Bank of India limited, inter alia , for a Writ or of in the nature of Mandamus commanding the respondents to forbear and desist from giving any effect to the purported attachment levied on the goods hypothecated and pledged in favour of the petitioner and lying at the mill and/or the Factory of Bangeswari Cotton Mills Limited at 32, Railway Land Road, Rishra, District Hooghly or at the godowns situated therein. The petitioner has also prayed for a writ or of in the nature of Prohibition commanding the respondents not to continue or implement the said attachment mentioned in the petition. The facts of the case is as follows : 1 The petitioner is a public limited company incorporated in India and carries on business inter alia, at 71, Jamunalal Bajaj Street, Calcutta. The respondent No. 3 was also an assisting Company within the meaning of the Companies Act, 1956 and used to produce cotton fabrics and cotton piece goods. The respondent No. 3 had a factory and cotton mills at Rishra, Hooghly in the State of West Bengal as the respondent No. 3 was a constitutent of the petitioner and borrowed from time to time, in a cash Credit Account from the petitioner various sums aggregating about Rs. 15,00,000. To secure the repayment of the said amount to the respondent No. 3 mortgaged and/or hypothecated to the petitioner various goods consisting inter alia , of cotton yarns stocks manufactured or in the process of manufacture, cotton fabrics, cotton products and mill stores that were lying with the said mills and were brought into the said mill or factory premises, and or in the godown of the said respondent No. 3 or the said mill and or the factory premises.
(2.) At the time of making this application, 118 bales of cotton piece goods, 717 bales of hosiery yarn and 304 bales of foreign cotton were lying pledged with the petitioner in the said godown of the respondent No. 3. The said godowns were in the possession and control of the petitioner.
(3.) In or about the 10th November, 1965, the petitioner was informed by the respondent No. 1 that the said respondent had issued a notice of attachment on all cotton fabrics and cotton yarns lying at factory premises under section 11 of the Central Excise and Salt Act, 1944. By the said notice, the petitioner was directed to remove its locks from the said godowns in order to enable the respondent No. 1 to take possession of the cotton yarn and cotton fabrics for the purpose of selling the same for recovery of the Excise duty.;