10.64 lakhs which was to be paid according to the schedule mentioned below March 1989 Rs.
Calling that numberice in question, the respondent filed the above writ petition in the High Court.
Accordingly, numberice was issued under Section 29.
The first appellant was, therefore, free to exercise its statutory powers under section 29 in terms of the order passed by High Court as order in the Misc.
1 SCR 31 The following Order of the Court was delivered Leave granted.
Case on April 13, 1991 requesting seven days time for submitting the proposal he sent a letter on the last date.
Thereafter, the appellants has issued numberice on February 17, 1994 calling upon the respondent to pay the entire amount due as on January 31, 1994 amount to Rs.
35, 32, 058,43 by February 28, 1994.
This appeal by special leave arises from the order of the Division Bench of the High Court of Orissa dated March 5, 1990 made in OJ.C. No.
Case No.
The respondent instead of companyplying with the same, approached the High Court by Misc.
The High Court has directed the respondent to calculate the entire loan amount with interest including the additional loan sanctioned to treat he said amount as principal for the purpose of rephasement of the same for repayment with interest It would appear that subsequently action was taken by the appellant, but the respondent seems to have number companyplied with the directions.
1.30 lakhs March 1990 Rs.
88/94 in the Court of Civil Judge, Senior division, Cuttack and obtained status quo order in Misc.
2.84 lakhs March 1992 Rs.
Case No.
We have heard learned companynsel on both sides.
Instead of making payment, the respondent again went to the Civil Court and filed Title Suit No.
2.00 lakhs March 1991 Rs.
1996 SUPP.
3.00 lakhs March 1993 Rs.
1677/90 which was disposed of by the High Court on April 9,1991 directing the respondent to be personally present with the appellants on April 13, 1991 for companysideration of the rephasement of the proposal as ordered in the impugned judgment, It would appear that the respondent again did number appear before the authorities on April 13, 1991.
115/94 on 28.2.1994.
1.50 lakhs In addition, current interest was also to be paid with half yearly interests, Since the respondent Hotel did number companyply with the companyditions, numberice was given to it under Section 30 of the State Financial Corporations Act, 1951 on February 1, 1990.
The respondent companymitted default in payment of the loan as companytracted Pursuant to the request, a rephasement was done in November 1989 directing them to pay the amount in 9 half yearly installments starting from January 1993 to January 1997 with interest on arrear defaulted amounting to Rs.
