A. K. CHAWLA, J.

1. The petitioner invoking the jurisdiction of this Court under Article 226 read with Article 227 of the Constitution of India seeks issuance of appropriate writ for setting aside an order dated 12.5.2015 passed by Appellate Authority for Industrial and Financial Reconstruction (AAIFR), New Delhi in short "the impugned order".

2. Facts emerging from the record are that the petitioner company had set up a plant at Roz-ka-Meo, Sohna, Haryana for processing of 2.5 lakh litres of milk per day for manufacture of milk products viz. dairy whitener, butter, ghee, condensed milk etc. The plant was so set up by the petitioner in association with Haryana State Industrial Development Corporation Limited (HSIDC) and Haryana Agro Industries Corporation Limited (HAIC). The cost of the project estimated at Rs.1395 lac was financed by term loans of Rs.450 lac comprising of Rs. 300 lac from IDBI; Rs.75 lac from State Bank of Patiala and Rs.75 lac from Punjab National Bank besides equity share capital of Rs.914 lac and state subsidy of Rs.31 lac. Subsequent over run of Rs.392 lac was financed by additional term loan of Rs.275 lac by IDBI and equity share capital of Rs.117 lac