- (1.) Heard learned Counsel. I have perused the writ petition. The Petitioner by this writ petition had prayed that the order passed by the Respondents on 17.1 1.1988 may be quashed and the Respondents may be restrained from taking action against the Petitioner under Section 29 of the Rajasthan Financial Corporation Act, 1951.
(2.) The Petitioner is regIstered partnership firm and it established a factory at Industrial Area, Jodhpur for manufacturing of Gwar Gum. The Petitioner was sanctioned a loan in a sum of Rs. 3,95,000/-. out of This a sum of Rs. 3,92,000/- were disbursed on 20.10.1981. The Petitioner was regularly paying interest but later on because of certain difficulties he could not pay the amount of the loan, therefore, the Finance Corporation issued a Notice on 17.11.1988 (Anx. 3) and raise a demand in a sum of Rs. 14,63,281/-. Therefore, the Petitioner had filed the present writ petition.
(3.) A reply has been filed by the Respondents and they have submitted that the Petitioner has committed a default and the amount of approximately 22 lacs are due against the Petitioner now.;