( 1 ) ASSAILING the legality of the notice dated 21-8-1989 issued by the respondent- corporation, in this writ petition under Article 226 of the Constitution of India, the petitioner-Company seeks a direction to the respondent-Corporation to disburse the balance loan amount of Rs. 13,53,121. 00 Ps. after excluding the illegal payment of Rs. 5,62,075. 00 Ps. made by it to M/s. Exxon Packing System (P) Ltd. (for short exxon Company ).

( 2 ) THE petitioner-Company had set up a food processing industry and at its instance, the respondent-Corporation sanctioned a term loan of rs. 51,90,000/- vide its letter dated 31-1-1987. The production machinery, inter alia, consists a form, fill and seal packing machine. The petitioner- company purchased a packing machine from Exxon Company for a consideration of Rs. 9,93,325. 10 Ps. and paid an advance of Rs. 4,31,250. 00 Ps. On 2-3-1988, Exxon Company delivered the packing machine to the petitioner company. On 5-3-1988, the respondent-Corporation sent a cheque for rs. 4,75,825. 00 Ps. drawn in favour of the said Exxon Company, the supplier of the packing machine, to the petitioner-Company for payment to the said Exxon company. The petitioner-Com

Click Here to Read the rest of this document