law: State Financial Corporations Act, 1951 
  31. Special provisions for enforcement of claims by
  
  Financial Corporation 
  (1) Where an industrial concern, in breach of any agreement,
  
  make any default in repayment of any loan or advance or any installment thereof
  
  or in meeting its obligations in relation to any guarantee given by the
  
  Corporation or otherwise fails to comply with the terms of its agreement with
  
  the Financial Corporation or where the Financial Corporation requires an
  
  industrial concern to make immediate repayment of any loan or advance under
  
  section 30 and the industrial concern fails to make such repayment, then,
  
  without prejudice to the provisions of section 29 of this Act and of section 69
  
  of the Transfer of Property Act, 1882 (4 of 1882) any officer of the Financial
  
  Corporation, generally or specially authorized by the Board in this behalf, may
  
  apply to the District Judge within the limits of whose jurisdiction the
  
  industrial concern carries on the whole or a substantial part of its business
  
  for one or more of the following relief’s, namely,-
  (a) for an order for the sale of the property
  
  pledged, mortgaged, hypothecated or assigned to the Financial Corporation as
  
  security for the loan or advance; or
  3[(aa) for enforcing the liability of any
  
  surety; or]
  (b) for transferring the management of the
  
  industrial concern to the Financial Corporation; or
  (c) for an ad interim injunction restraining
  
  the industrial concern from transferring or removing its machinery or plant or
  
  equipment from the premises of the industrial concern without the permission of
  
  the Board, where such removal is apprehended.
  (2) An application under sub-section (1) shall state the nature
  
  and extent of the liability of the industrial concern to the Financial
  
  Corporation, the ground on which it is made and such other particulars as may
  
  be prescribed.