High Court of Judicature at Allahabad
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M/S Mahalaxmi Krafts And Tissues Pvt. Ltd. And Another v. U.P. Financial Corporation Thru' Its Managing Director - WRIT - C No. 44654 of 2006  RD-AH 13885 (21 August 2006)
Hon.Shishir Kumar, J.
Learned counsel for the U.P. Financial Corporation prays for and is granted two weeks time to file a counter affidavit. Rejoinder affidavit may be filed within two weeks thereafter.
List for admission after expiry of the aforesaid period.
The controversy involved in the present writ petition is that the amount to the tune of Rs.9,37,403/- which has already been paid by the petitioners as penal interest to the PICUP, that amount is to be adjusted. Petitioners submit that they are not at fault, therefore, they are not responsible to pay the excess interest. Sri Satish Chaturvedi, Advocate, who appears for the U.P. Financial Corporation has submitted that according to his instructions about 16,00,000/- is due towards the petitioner. The petitioners submit that they ready to pay the balance amount which comes about 7,00,000/- and the amount has not been paid as the amount paid by the petitioners to the PICUP has not been adjusted and due to the aforesaid fact the ''No Objection Certificate' has not been issued in favour of the petitioners.
In case the petitioners deposit a sum of Rs.7,00,000/- with respondent No.3 i.e. Chief Manager (Finance Division), U.P. Financial Corporation 14/88, Civil Lines, Kanpur then a provisional certificate be issued in favour of the petitioners and the respondent No.1 i.e. Uttar Pradesh Financial Corporation is further directed that the representation of the petitioners dated 4.6.2005 (Annexure 9 to the writ petition) be decided within a period of three weeks from the date of filing of the certified copy of the order.
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