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BHANWAR SINGH, TARUN CHATTERJEE
EMONDSON ENGINEERS (P) LTD. AND ANR. – Appellant
Versus
STATE OF U. P. – Respondent
( 1 ) M/s. Emondson Engineers (P) Ltd. , Lucknow and its Executive Director Shri Pushkar Bajpai have filed this petition for a writ in the nature of certiorari quashing the impugned demand notice dated 24. 9. 2001 (Annexure-6) whereby they were asked to deposit a sum of Rs. 17,88,048/within fifteen days, failing which their properties were to be attached and put on auction-sale. A writ in the nature of mandamus commanding the opposite parties not to recover the aforesaid amount nor to attach their immovable properties or put them on sale has also been sought for.
( 2 ) BRIEFLY stated, the petitioners case is that M/s. Emondson Engineers (P) Ltd. is carrying on its business of sale of welding materials and consumable welding machines as also electrodes. A few years ago, the said company requested the opposite parties 2 to 5 for cash credit facility to the extent of Rs. 12 lakhs. The City Cooperative Bank. Ltd. , and its authorities sanctioned the cash credit facility on the petitioners company having deposited title deeds of its properties as collateral security apart from personal guarantee. Requisite deeds of hypothecation and guarantee were duly executed by the
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