Heard Mr. I. Subramanian, learned Senior Counsel assisted by Mr. P. Muralidharan, learned counsel appearing for the petitioner and Mrs. Sudharshana Sundar, learned standing counsel appearing for the first respondent/SIPCOT. Though notice has been served on the second respondent/AXIS Bank and their name is printed in the cause list, none appears for the second respondent. With the consent of the learned counsel for the petitioner and the first respondent, the writ petition itself is taken up for disposal.

2. The facts which are necessary for the disposal of the writ petition are as here under:

The petitioner was granted a long term lease of 99 years in respect of a property in a Industrial park developed by SIPCOT in Irungattukottai bearing Plot Nos.A-11, A-12, B-7 and B-8 measuring an extent of 19.53 acres. The fact that a lease deed was executed in favour of the petitioner and other related matters are not in dispute. The petitioner has put up a ICD facility in the said property and for business purposes they proposed to approach the second respondent for grant of loan. However, in terms of conditions of lease, the petitioner is required to secure a No Objection Certificate f