( 1 ) THE petitioner in this application, inter alia, has prayed for issuance of a writ of or in the nature of mandamus directing the respondents to forthwith revoke and/or rescind and/or cancel the letters dated 7/09/1992 and 18/09/1992 which are contained in Annexures R, R/1, S, S/1 to the writ application as also desisting from invoking bank guarantee No. AH7/ BG/3/87, dated 7/11/1987 for a sum of Rs. 10 lacs 57 thousand 1 hundred 60 and bank guarantee No. 5/88, dated 5/10/1988 for a sum of Rs. 31 lacs 71 thousand 4 hundred 80 both issued by the Bank of Maharashtra.

( 2 ) THE fact of the matter lies in a very narrow compass.

( 3 ) THE petitioner No. 1 owns a shipyard at Shibpur for carrying on business as Marine and Mechanical Engineers and structural fabricators. The respondent No. 5 intended to get a fishing trawler built by the petitioners. According to the petitioners the Central Government had evolved a scheme to promote shipping industries and grant loan to such persons intending to get a ship built wherefor even subsidy is paid. It is stated that a contract for building the aforesaid fishing trawler, the cost where of was one crore five lacs was entertai