ORDER :

1. By way of this petition under Article 226 of the Constitution of India, the petitioner has prayed for the following reliefs :-

“7(a) quash and set the impugned letter and subsequent email at Annexure-A to this petition to the extent of restricting the petitioner’s withdrawals from its CC account resulting in stoppage of operations and direct the respondent Banks to allow usage of the CC limits forthwith ; and /or

(b) as an interim arrangement for a maximum period of 3 months, direct the Respondent Banks to accept the petitioner’s offer to surrender 10% of export collection made by the Company which would immediately reduce the CC limits till the strategic investor steps in; and/or ;

(c) pending the admission, hearing and final disposal of this petition, to stay implementation and operating of the impugned letter and email at Annexure-A to this petition;

(d) any other and further relief deemed just and proper be granted in the interest of justice;

(e) to provide for the costs of this petition.”

2. It is the case of the petitioner that the petitioner is an unlisted public Company incorporated under the provisions of the Companies Act, 1956 and is engaged in the production of seba