- (1.) Heard Counsel for the parties and with their consent, this application is taken up for disposal at the stage of admission.
(2.) The dispute in this case arises on account of the manner in which a sum of Rs. 2,50,000/- which was paid to the BSFC, has been credited-in the petitioner's loan account.
(3.) From the facts of the case, it appears that the petitioner had purchased an item of machinery from one Kolsite Machine Fabric Limited, Bombay, on hire purchase with finance obtained from the BSFC. The price of the machine was paid by BSFC to the supplier. Later, it was detected that the machine had some manufacturing defect. A dispute was raised by the petitioner against the supplier which ultimately went up to the Supreme Court. Vide order dated 11.12.1998 passed in Criminal Apepal No. 1313-1331 of 1998, the Supreme Court had directed the aforesaid supplier to deposit a sum of Rs. 2,50,000/- with the BSFC and with a corresponding direction that the said amount shall be credited "towards the dues of the Complainant". In compliance with the direction of the Supreme Court, the supplier had deposited the amount of Rs. 2,50,000/- with the BSFC by Bank Draft on 3.2.1999. Thus, as per the direction of the Supreme Court, the BSFC was required to credit the sum of Rs. 2,50,000/- towards the dues of the complainant/petitioner's outstanding as on the date of the deposit.;