- (1.) IN this writ petition the petitioners have prayed for a direction on the bihar State Financial Corporation-respon dent No. 1 (hereinafter referred to as 'the b. S. F. C for short) and its officers to give them the benefits of the "b. S. F. C One Time Settle ment Scheme, 2004" (hereinafter referred to as 'the OTS Scheme, 2004') for which the petitioners had applied within the prescribed time with the necessary amounts. The petitioners have also prayed for quashing the resolution dated 16-11-05 (Annexure-3) restraining the respondents from auctioning and settling the petitioners-Unit with any other person. The petitioners have further prayed for quashing the sale letter dated 16-11-05 and the resolution of the Board of directors dated 25-8-06 and the order of the respondents dated 12-10-2006 whereby the application of the petitioners for giving them the benefits of the OTS Scheme, 2004 has been rejected and the auction purchasers have been permitted to deposit the money.
(2.) THE petitioners' case is that the petitioner No. 1 is a partnership industrial unit engaged in manufacturing of Calcine and grinding material. At present the industrial unit is situated at Pandara, Ranchi over an area of 2. 23 acres. The petitioner No. 2 is the Managing Partner. The Unit was started in the year 1973. The partners also took loan from the respondent-BSFC. The loan of Rs. 3,40,000/- was sanctioned, but out of the same only Rs. 2,64. 000/- were released. The partners invested rest major amounts for the unit from their own resources. Again in the year 1983, an additional loan of Rs. 2 Lacs was sanctioned, but the entire amount was adjusted against the interest accrued on first loan. The petitioners out of their resources constructed another Kiln and at present there are three Down Draft Kilns against the said loan amount. The petitioners have already paid about more than Rs. 12 Lacs against the above loan amount. The B. S. F. C did not pay the additional loan amount within time and added some disputed amount towards the dues account of the petitioner and started demanding the same from the petitioners. The petitioners had then filed writ petition in the Patna High court, Ranchi Bench (as then was) being c. W. J. C. No. 312/1993 (R ). The said writ petition was disposed of on 4-11-93 in favour of the petitioners directing the respondents to consider the petitioners' representation and dispose of the same by reasoned order. The respondents-B. S. F. C while deciding the petitioners' representation again demanded the disputed amount. Since there was dispute in accounts, the petitioners had to file Title Suit No. 106/95, which led to appeal being T. A. No. 4/2003. The cases were finally decided on 25-7-04. The petitioners have further stated that the respondents-B. S. F. C, in the mean-while, came out with a scheme known as One Time Settlement scheme, 2004 (OTS-Scheme, 2004 ). The main condition for availing the benefits of the said Scheme was that there should not be any dispute of the account. As stated hereinabove, the dispute regarding the account was finally decided in T. A. No. 4/03 on 25-7-04, there was thus no longer any dispute regarding the account. The petitioners became eligible for consideration of the ots Scheme, 2004. The benefits under the said Scheme were extended up to 25-11-05. The respondents in the meanwhile suddenly served a notice dated 16-11-05 (Annexure-3) informing the petitioners that the Unit has been ordered to be sold and if they wish to retain the Unit, they can do so by depositing Rs. 40 Lacs the balance outstanding as on 31-8-05, within 21 days from the date of issuance of sale order i. e. by 6-12-05. The petitioners have spent huge amount out of their own resources, therefore, they want to retain the Unit on payment of the dues either under OTS Scheme or the loan dues. Total amount payable under the OTS scheme, 2004 would be between 13-14 Lacs only. The petitioners thus preferred to ap ply for settlement under OTS Scheme and they applied under the OTS Scheme-2004 along with the requisite amount on 25-11-05. The petitioners also filed their representation requesting the M. D. , B. S. F. C. not to proceed further in pursuance of the Anneuxre-3 dated 16-11-05. The BSFC thereafter directed the petitioners to deposit application amount of Rs. 46,400/- which was also deposited by the petitioners. When no notice was taken of the petitioners' application under OTS scheme even thereafter for a long time in spite of several reminders, the petitioners preferred this writ petition on 27-7-06. It is relevant to mention here that during the pendency of the writ petition, the respondents rejected the petitioners' application for settlement under the ots Scheme, 2004 by letter No. 447/z-W dated 12-10-06 and the respondents also advertised the petitioners-Unit for sale in the daily newspaper The Hindustan published from Patna in its edition dated 15-1 -03. The petitioners by way of amendments also prayed for quashing the same.
(3.) WHEN the writ petition is taken up for final hearing, the petitioners expressed his intention to clear the dues payable under ots Scheme or the loan dues in order to retain the Unit and to that effect filed a petition in this Court giving an undertaking that they are ready to deposit the balance dues amount payable within a period of two months in one instalment or two instalments, as may be directed by this Court.;