PUNJAB FINANCIAL CORP. vs M/S GARG STEEL

The Supreme Court held that the High Court erred in entertaining the writ petition filed by the Borrower against the Punjab Financial Corporation (P.F.C.) for the release of loan amounts and damages, as the claims were based on contractual obligations which are not enforceable through a writ of mandamus. The Court emphasized that issues of promissory estoppel, waiver, and breach of contract require proper pleadings and are beyond the scope of writ jurisdiction. Consequently, the Court dismissed the writ petition, affirming that contractual disputes should be resolved through appropriate civil proceedings rather than through writ petitions.