ORDER :

Hemant Gupta, CJ.

The petitioner is a special purpose vehicle incorporated for construction of a composite logistic hub on 88.30 Acres of land pursuant to an agreement signed with Madhya Pradesh State Agriculture Marketing Board on 24.10.2011 for a period of 33 years, which could be further extended by another 15 years.

2. The petitioner has obtained a credit facility of Rs. 108.11 Crore including a Term Loan of Rs. 99.11 Crore and Non-fund based limit of Rs.9.00 Crore for the construction of composite logistic hub from the Consortium of Banks such as Dena Bank, Union Bank of India and Allahabad Bank.

3. It is the stand of the petitioner that the construction of composite logistic hub could not be completed as per plan though the rail operations commenced on 19.04.2016. Thus, it led to increase in the cost of development of the requisite infrastructure. It is further pleaded that due to loss and unavailability of expected business and backlog of interest, the Joint Lenders Forum (JLF) constituted in terms of circular issued by the Reserve Bank of India (for short “the RBI