JUDGMENT :

1. Heard learned advocate Mr. J.B. Dastoor for the petitioner, learned advocate Mr. R.D. Dave for respondent No.2, learned advocate Mr. Pravin Panchal for respondent No.5 and learned Senior Advocate Mr. Navin Pahwa for learned advocate Ms. Sangita Pahwa for the applicant of the Civil Application through video conference.

2. By this petition under Article 226 of the constitution of India, the petitioner has prayed for the following reliefs :

“A. Your Lordships be pleased to allow this petition;

B. Your Lordships be pleased to issue a writ of mandamus or certiorari or any other writ direction or order in the nature of mandamus or certiorari directing the respondents to release the share of interest amount of petitioner of Rs. 185.87 Lakh along with accrued interest within stipulated time period.

C. Your Lordship be pleased to grant any other further relief Your Lordship deems fit, just and proper in the interest of justice.”

3. The brief facts of the case are that the petitioner provided financial assistance to respondent No.4-M/s. Jayswal Pharma Chem Limited.

3.1 The respondent No.1 to 3 being Gujarat Industrial Investment Corporation Limited [GIIC], Gujarat State Financial Corp