T.S.THAKUR, J.

1. A Common question of law arises for consideration in these writ petitions, which were heard together and shall stand disposed of by this common order. The question is whether the guidelines issued by Small Industrial Development Bank of India regarding one time settlement of non-performing assets of the Financial Corporations are binding on the said Corporations. Before we examine the merits of the rival contentions urged before us we may briefly set out the factual backdrop in which the present petitions have been filed.

2. Civil Writ Petition No.2224 of 2005 purports to have been filed in public interest by members of what is described as Border District and Punjab Allied Industries Association. The remaining petitions forming part of this batch have been filed by different industrial units, who are in default of payment of the amounts borrowed by them from the Punjab financial Corporation and against whom the corporation has initiated proceedings for recovery of outstanding loan amounts. In the petitioners pray for a mandamus directing the respondent-Corporation to settle the accounts of the petitioners in accordance with the guidelines issued by the Sm