( 1 ) ALL these writ appeals filed by the financial institutions and the banks are directed against the same Judgment of the learned single Judge dated 12-8-1999 made in W. P. NO. 26061 of 1992. W. A. No. 1689 of 1999 is filed by the Industrial Development bank of India, Mumbai (IDBI), the 2nd respondent; W. A. No. 1620 of 1999 by State bank of India, Hyderabad Main Branch, hyderabad, the 8th respondent; W. A; no. 1532 of 1999 by Industrial Finance corporation of India Limited (IFCI), the 4th respondent; W. A. No. 1658 of 1999 by the central bank of India, Mumbai, the 7th respondent; W. A. No. 1637 of 1999 by industrial Credit and Investment corporation of India Limited, Mumbai, (ICICI), the 3rd respondent and W. A. No. 1699 of 1999 by State Bank of India, gunfoundry, Hyderabad, the 6th respondent in the writ petition.

( 2 ) THE writ petition was filed bysri Krishna Oil Complex Limited, hyderabad, the respondent herein. The background facts leading to the filing of the writ petition be noted briefly as under, The petitioner is a company registered under the companies Act, 1956 and was incorporated on January 1, 1975. It is said, the main objects of the company, inte