the purpose of issuance the NOC. The said request was sent by registered post acknowledgment on 21.01.2015. However, no reply was received within the time stipulated under Section 51 of the Act. As per Section 51(7) of the Act, the financier had to reply within 7 days or else sanction would deemed to have been obtained. In the instant case, the respondent has replied by communication dated 30.01.2015 that they would consider the request only when the loan liability is closed in its entirety. The respondent has power to consider the matter by invoking powers under Section 51(9) of the Act. The petitioner points out that the authorities in case, consider the application for renewal, if no reply has been received from the financier or if the request for NOC has been rejected. It is with this background, the petitioner has come up before this Court.