( 1 ) THIS writ petition under Article 226 of the Constitution of India has been filed by the petitioners, inter alia, praying for issuance of a writ, order or direction in the nature of certiorari quashing the Recovery Certificate as well as Citations dated 15. 4. 2002 and 16. 4. 2002 (Annexure no. 12 to the writ petition), and further, for issuance of a suitable writ, order or direction in the nature of mandamus or prohibition restraining/ prohibiting the respondents from realization of any amount from the petitioners in pursuance of the said Recovery Certificate and Citation.

( 2 ) THE petitioners have, inter alia, alleged in the writ petition that they were Directors of Om steel and Alloys--unit of Om Refrigeration Private Limited, Faizabad which was a Private limited Company incorporated under the Companies Act; and that Om Steel and Alloys sought financial assistance from U. P. Financial Corporation, Kanpur for establishing the unit; and that a loan of rupees sixty lacs was sanctioned by the U. P. Financial Corporation, Kanpur, out of which rs. 52,88,900/- was disbursed to Om Steel and Alloys. It is, inter alia, further alleged by the petitioners that on 4t