IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 37199 of 2008(C)
1. M.K. SAROJINI, W/O. LATE SUKUMARAN,
... Petitioner
2. ANIL KUMAR.K.R,
Vs
1. THE BRANCH MANAGER,
... Respondent
2. THE ZONAL OFFICER,
3. JAYACHANDRAN,
For Petitioner :SRI.N.N.SUGUNAPALAN (SR.)
For Respondent :SRI.M.PATHROSE MATTHAI (SR.)
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :05/01/2009
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) No. 37199 of 2008
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Dated this the 5th day of January, 2009
JUDGMENT
Prayer sought in this writ petition is to direct respondents 1 and
2 to return the documents received by them for advancing loan to the
3rd respondent. Admittedly, in support of loan availed of by the 3rd
respondent, the property belonging to the first petitioner was offered
as security. It is stated that default was committed by the borrower and
finally the matter was settled as per Exhibit P1 agreement. In terms
of Exhibit P1, Rs.50,000/- will be paid on 30/10/2008 and balance
before 31/10/2008. Bank submits that as against the agreement, balance
of the agreed amount was paid by the first petitioner only on
12/12/2008. Therefore, it is contended that the petitioner having not
paid as agreed in Exhibit P1, is not eligible to settle the liability for the
amount agreed in Exhibit P1. According to the bank, the petitioners
should pay the full amount. It is stated that if an additional amount of
Rs.35,000/- is paid, then the first respondent can return the documents
that the 1st petitioner deposited at the time when the 3rd respondent
W.P.(C) No. 37199/2008
2
availed of the loan.
Fact remains that in Exhibit P1, the petitioners had agreed to
liquidate the liability before 31/10/2008. It is also true that the payment
has not been made and the balance payment was made only on
12/12/2008. Though default has been committed, still having regard to
the fact that the bank has accepted the payment in terms of Exhibit P1
on 12/12/2008 without any reservation, I feel that the ends of justice
require that on the petitioner paying interest for belated payment for
the period from 31/10/2008 to 12/12/2008, accepting the same, the
bank should release the title deeds deposited by the first petitioner.
Therefore, it is directed that on the petitioners paying interest at
contractual rate for the period from 31/10/2008 to 12/12/2008, the
bank shall accept the same in full settlement of the liability and
thereupon shall release the documents submitted by the petitioner .
ANTONY DOMINIC, JUDGE
scm