Vineet Kothari, J. - (1.) This petition has been filed against the respondent R.F.C. challenging the impugned action of the Respondent-R.F.C. under section 29/30 of the State Financial Corporations Act, 1951.
(2.) The learned Counsel for the petitioner has drawn attention of the Court towards One Time Settlement proposal given by the petitioner which was favourably recommended by the General Manager of R.F.C. Bhilwara vide Annexure 3 which according to the petitioner was sent for approval to the Head Office in January, 2000 as stated in para 8 of the writ petition. According to the said proposal after waiver of penal interest and charging of the simple interest, the Branch Manager recommended recovery of Rs. 11.71 lacs (6.90 lacs towards principal, Rs. 4.35 lacs towards interest and Rs. 0.46 lacs towards other moneys). According to the petitioner, the petitioner paid a sum of Rs. 2 lacs as up-front amount against the said amount recommended to be settled by the Branch Manager. Thereafter it appears that the competent Committee at Head Office Level considered the case of the petitioner in presence of representative of the petitioner-unit Mr. Bhagat Ram Somani on 10.10.2001 vide Annexure R/1 dated 3.11.2001 and the settlement proposal was rejected. In the said communication, it is stated that "offer of the Committee was not acceptable to your representative, hence the case was rejected." However, it is not disclosed in the said letter as to what was that offer of the Committee which the Committee wanted the petitioner to accept or respond to. No other reason has also been assigned by the R.F.C. in the said communication for rejecting the One Time Settlement proposal, which was forwarded by the Branch Manager of R.F.C. vide Annexure 3 as aforesaid.
(3.) It is also submitted by the learned Counsel for the petitioner that in the meanwhile industrial unit of the petitioner has already been taken over and sold by the respondent-R.F.C. in open auction and it is only for the recovery of balance amount that they have given notice for recovery of said amount to the petitioner and have forwarded recovery certificate to the Tehsildar under the provisions of Land Revenue Act.;