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2009 (10) TMI 536 - SC - Companies LawWhether there exist proper pleadings in the present case? Held that:- Appeal allowed. In the present case the facts indicate that, by this writ petition, the original petitioner (Borrower) has sought damages and enforcement of contractual commitments which, in our view, were beyond the scope of a writ petition. Adjustment of accounts and enforcement of back-to-back transactions with a party with whom there was no privity of contract coupled with the claim for damages are all contractual matters un-enforceable by way of writ petitions. Thus the High Court should not have entertained the writ petition, particularly when contractual disputes requiring evidence existed between the borrower and lender. As in the present case, it was agreed by and between PFC and the borrower that soft loan would be disbursed by PFC only if SIDB1 releases the amount under the re-finance arrangement between PFC and SIDBI. In the original writ petition, there is no prayer for specific performance of the re-finance agreement, assuming for the sake of argument that such a plea is tenable. Thus set aside the impugned judgment of the High Court on the ground that the writ petition instituted by the borrower was misconceived.
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