TMI Blog2009 (10) TMI 536X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - Civil Appeal No. 7119 of 2009 - - - Dated:- 22-10-2009 - S.H. KAPADIA, G.S. SINGHVI AND AFTAB ALAM, JJ Ms. Jyoti Mendiratta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as, prima facie, of the view that writ petition filed in the High Court was misconceived. Accordingly, we heard the parties at length on the averments made in the original writ petition. On going through the writ petition, the following circumstances are alleged: 1.2 That a loan application was made for an amount of rupees thirty lakhs, including soft loan, which was accepted by PFC; that Rs. 21.25 lakhs was agreed to be disbursed in advance against collateral security of commercial plots and residential plot; that the loan was granted at the contractual rate of interest at 15.5 per cent; that the loan consisted of the term loan and the soft loan; and that there was a back-to-back re-finance arrangement between PFC and Small Industrie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th whom there was no privity of contract coupled with the claim for damages are all contractual matters un-enforceable by way of writ petitions. For the afore-stated reasons, we are of the view that the High Court should not have entertained the writ petition, particularly when contractual disputes requiring evidence existed between the borrower and lender. Before concluding, we may state that learned counsel for respondent No. 1 placed reliance on the judgment of this court in the case of Gujarat State Financial Corpn. v Lotus Hotels (P.) Ltd. reported in (1983) 3 SCC 379, which has no application to the facts of this case. At the outset, it may be stated that, in the present case, it was agreed by and between PFC and the borrower that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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