JUDGMENT

S. PANDA, J. — Aggrieved by non-consideration of the proposal submitted by the petitioner to the opposite parties for settlement of the loan amount under One Time Settlement Scheme and challenging the action of the Orissa State Financial Corpora¬tion (in short, “O.S.F.C.”) under Section 29 of the State Finan¬cial Corporation Act (hereinafter referred to as “the Act”) on the ground that the assets of the unit has been valued at a very low price taking the said decision in a hasty manner, the peti¬tioner has filed two writ petitions praying for a direction to the opposite parties to return possession of the Unit to the original owner as the same has been seized without following due procedure.

2. The brief facts of the case are as follows :

The petitioner-Unit is an Alloy Plant situated within the State of Orissa. It was built up being encouraged by the boom in the industrial sector in the State and as the demand for alloy was increasing day by day. Initially, the Unit approached the O.S.F.C. for financial assistance. After making due investigation and enquiry, the O.S.F.C. sanctioned loan of Rs.45,35,000/- to the petitioner-Unit. The petitioner-Unit was framed as a public l