M/S Onkar Cotton Agro Industries Through Its Partner P K Golecha And Another v. The State Of Maharashtra And Another

1 11-wp11406.odt

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD WRIT PETITION NO.11406 OF 2016 M/s. Onkar Cotton Agro Industries and anr.

..Petitioners Vs.

The State Bank of Hyderabad and anr.

..Respondents -- Mr.S.S.Gangakhedkar, Advocate for petitioners -- CORAM : R.M. BORDE AND SANGITRAO S. PATIL, JJ.

DATE : NOVEMBER 22, 2016 PER COURT :

Heard.

2.

The petitioners are praying for issuance of directions to the respondents - Bank to consider the representation tendered by the petitioners for conversion of Cash Credit facility into a Term Loan facility within the framework of the guidelines issued by the Reserve Bank of India.

2 11-wp11406.odt 3.

Without commenting upon the merit of claim of the petitioners, we direct the respondents - Bank to consider the representation tendered by the petitioners, on its own merits and in accordance with the policy of the Bank, expeditiously.

4.

It is clarified that this Court has not scrutinised the merit of contentions raised by the petitioners and it would be open for the respondents to take appropriate decision in the matter.

5.

With the above directions, the Writ Petition stands disposed of.

[SANGITRAO S. PATIL, J.] [R.M. BORDE, J.] kbp