JUDGMENT :

1. This petition has been filed by the petitioner with the following prayers:-

“In view of the foregoing premise, it is, most respectfully, prayed that the Hon’ble Court may be pleased to:

(i) Issue a writ, order or direction in the nature of certiorari to quash the letter bearing reference number CFS: ND 21: 730 dated 14.05.2018 declaring the Petitioner and its Directors as willful defaulter; and

(ii) Issue a writ, order or direction in the nature of certiorari to quash the impugned show cause notice No.CFS: ND: 20:1837 dated 23.11.2017 for declaring the petitioner and its directors as willful defaulters; decision dated 20.02.2018 of the Committee of Executives holding that the petitioner has defaulted in meeting its repayment obligations and siphoned off the funds which were not utilized for the designated purpose for which the finance was availed of along with decision of the Review Committee dated 03.05.2018 confirming the decision dated 20.2.2018 of the Committee of Executives;

(iii) issue an appropriate writ order or direction to hold and declare that the impugned Circular bearing reference no. DBR.No.CID.BC.22/20.16.003/2015-16 dated 01.07.2015 issued and promulgated