JUDGMENT

L. MOHAPATRA, J. — This writ application has been filed for a direction to the opposite parties to grant permission to the petitioner for mortgaging the properties mentioned in the peti¬tion to the Banks or other financial institutions for availing various loan facilities.

2. The case of the petitioner is that the petitioner’s hotel was initially started by some entrepreneurs and the hotel was run in the name and style of ‘Hotel Konarak’. In the year 1988, M/s. Patel and partners purchased the said hotel from the owners thereon and started running the same in the name and style of ‘Hotel Deepti’. A lease deed was executed on 7th August, 1998 under a tripartite lease agreement between the State of Orissa, Steel Authority of India Ltd. and the petitioner and under the said lease deed, the schedule lands which are sought to be mort¬gaged were given on lease to the petitioner. Clause 16 of the lease deed provides that without prior permission of the opposite party No.1, the petitioner cannot assign, transfer, mortgage, sublet or otherwise deal with the properties. The petitioner being in great necessity of working capital for construction of the required building as per approv