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CASE NO.:

Appeal (civil) 3827 of 2007

PETITIONER:

M/S PRESTIGE LIGHTS LTD

RESPONDENT:

STATE BANK OF INDIA

DATE OF JUDGMENT: 20/08/2007

BENCH:

C.K. THAKKER & ALTAMAS KABIR

JUDGMENT:

J U D G M E N T

CIVIL APPEAL NO. 3827 OF 2007

ARISING OUT OF

SPECIAL LEAVE PETITION (CIVIL) NO.9409 OF 2005

C.K. THAKKER, J.

1. Leave granted.

2. The present appeal is directed against the

judgment and order dated March 29, 2005 passed by the

High Court of Uttaranchal at Nainital in Writ Petition No.

293 of 2005 by which the petition filed by the petitioner

(present appellant) was dismissed in limine.

3. To appreciate the controversy, few relevant

facts may be noted.

4. Appellant herein is a Private Limited Company

engaged in manufacturing bulbs, chokes and fittings.

The factory of the appellant is situated at Dhalwala

Industrial Area, Rajpur Road, Dehradun, Uttranchal. In

1992, the appellant obtained a loan of Rs. 85 lakhs from

State Bank of India, Commercial Branch, Radha Palace,

Rajpur Road, Dehradun \026 respondent herein. The

Company mortgaged its land and build