Heard the learned Counsel for the petitioner.

2. The petitioner in W.P. No. 9553 of 2007 is a Software Company and has the benefit of credit facilities with the Corporation Bank for several years and has the enhanced credit limit of Rs. 44.05 crores which is called Package Credit Limit-cum-PCFC, overdraft facility, rupee advance against export and various types of term loans. The petitioner had offered title deeds of immovable property as collateral security for repayment of the loan amounts without reducing the terms of such transaction into the form of a document except handing over a letter to that effect, along with executing other loan documents, by paying a stamp duty of 0.5% on the loan amount. The petitioner had again approached the Bank for a loan of Rs. 70 crores in addition to the existing credit limit as on 1-6-2007. This having been sanctioned by the Rank on certain terms and conditions as evidenced at Annexure-A to the writ petition and in furtherance of the said document, the petitioner offered the very same immovable property, which was offered earlier, as a continuing guarantee while again, not reducing the transaction into any form of a document evidencing the