M.L.Singhal, J.

1. The land, plant and machinery of the petitioner Company was mortgaged with respondent No. 5-Haryana Financial Corporation (to be referred as Corporation). Annexure P1 is communication dated 14.2.1992 sent by respondent No. 3 (Bank of Baroda) to the petitioner Company communicating their decision sanctioning the credit facilities to them (petitioner Company). In August, 1994, the petitioner Company submitted the revised plan/proposal to respondent No. 3 which was necessitated for its rehabilitation because respondent No. 4 (Bank of Baroda) began tightening noose around the neck of the petitioner company. Respondent No. 4 went on becoming harsh in banking dealings with the petitioner Company and respondent No. 3 bank informed the petitioner Company that they will not discount on their hundies drawn on EAPL. On 13.12.1994 the Petitioner Company informed the Bank of Baroda vide communcation Annexure P.3 that the Bank of Baroda should take over the total loan of HFC and thus, take over the first charge on the land, building plant and machinery and the bank should thereafter release the plot of Shri S.K. Gupta, Managing Director of the petitioner Company so tha