S. P. MEHROTRA, J.

( 1 ) THIS writ petition under Article 226 of the Constitution of India has been filed by the petitioners, inter alia, praying for issuance of writ, order or direction in the nature of certiorari quashing the impugned recovery certificate dated 26. 3. 2002 issued by the U. P. Financial corporation against the petitioners (Annexure-5 to the writ petition) and further for issuance of writ, order or direction in the nature of mandamus declaring the recovery proceeding in pursuance of the recovery certificate dated 26. 3. 2002 as barred by limitation for recovery of the loan of the year 1986.

( 2 ) IT is, inter alia, alleged by the petitioners that GEE Kay Pipes Pvt. Ltd. , is registered under the companies Act, 1956, and that the petitioner No. 1 is the Managing Director and the petitioner no. 2 is the Director of the said company, and that the U. P. Financial Corporations agreed in the financial year 1986-87 to grant term loan of Rs. 27,86,250 for machinery equipment and other assets in favour of the said company, and that sum of Rs. 26,03,050 could be released by the U. P. Financial Corporation out of the sanctioned amount of Rs. 27,86,250 upto the year 1987-88 an

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