JUDGMENT

M.S. Ramachandra Rao, J. - In this Writ Petition, the petitioner seeks a writ in the nature of Certiorari for quashing of the LOCs issued against her by the Bureau of Immigration (respondent no.2) at the instance of respondent No.s 10 and 13 Banks.

2. The petitioner is a guarantor to the loans granted by various Banks to M/s. SEL Manufacturing Company Ltd. and M/s. SEL Textiles Ltd as set out in Para 3 (c) of the Writ Petition. For both these Companies, the petitioner's husband and brother are the promoters.

3. Though several creditors were initially impleaded in the Writ Petition, it became known during the hearing of the case on 07.09.2022 that only the Indian Bank, Ludhiana, Punjab (respondent No.10) and the Bank of Baroda, Vadodara, Gujarat (respondent No.13) have made requests for issuance of LOC against the petitioner and LOCs had been issued by the respondent No.2. So the Writ Petition was dismissed against the other financial creditors.

The background facts

4. M/s. SEL Manufacturing Company Ltd. could not repay the loans taken by it from its lenders and the State Bank of India ( for short 'SBI') initiated the proceedings under the Insolvency and Bankruptcy Code, 2016 ('the Code') before the National Company Law Tribunal, Chandigarh.

5. vide order dt. 11.04.2018, the Company was admitted into Corporate Insolvency Resolution Process (CIRP), and as part of the said process, various lenders submitted their claims against it before the Resolution Professional which were also accepted by the Resolution Professional.

6. The said M/s. SEL Manufacturing Company Ltd. had also given corporate guarantees to various Banks for securing the credit facilities granted to M/s. SEL Textiles Ltd. These guarantees were invoked by the Banks and the said amounts were also claimed by them in the CIRP of M/s. SEL Manufacturing Company Ltd. These amounts were admitted by the Resolution Professional and included in the total claims by all the financial creditors.

7. The resolution plan submitted by a consortium of ARR ESS Industries Private Ltd. and Leading Edge Commercial FZE was accepted by the Resolution Professional on 19.08.2020, and the Committee of Creditors approved it on 29.08.2020.

8. Subsequently, the National Company Law Appellate Tribunal, New Delhi (NCLAT) passed an order on 18.09.2020 and directed reconsideration of the same, and as per the revised voting, by 96.90% vote, the Committee of Creditors approved it.

9. Subsequently, an application was filed under Section 30(6) of the Code for approval of the resolution plan by the NCLT and the same was also approved, and necessary sanctions were granted by the NCLT vide order dt.10.02.2021 (Annexure P-2).

10. Thus, in respect of any claims with regard to M/s. SEL Manufacturing Company Ltd. it is highly doubtful that the petitioner has no role or connection on account of the above events.

11. As regards M/s. SEL Textiles Ltd., on the ground that there was a default of repayment of the amounts by the said Company, the Banks which had lend monies to it, initiated recovery actions before the DRT. The petitioner, as a guarantor, is respondent No.4 in the OAs filed by the Banks.

12. The petitioner's mother-in-law namely Smt. Sneh Lata Saluja was prevented from travelling abroad by issuance of a Look Out Circular (LOC) against her at the instance of Indian Bank and Bank of Baroda. She approached this Court and filed CWP No. 15711 of 2022, and vide an interim order dt.09.08.2022, this Court permitted her to travel abroad for two months subject to her depositing a sum of Rs. 50 Lakhs with the Registrar (Judicial) of this Court in the form of an FDR by placing reliance on the decisions of this Court in Poonam Pal Vs. Union of India, 2022 SCC P&H 1176 and Noor Paul Vs. Union of India[2]. It was stated that as and when she returns to India, she should produce her Passport before the Registrar (Judicial) who shall then return the said FDR to her. The said Writ Petition is still pending in this Court be