IN THE HIGH COURT OF KERALA AT ERNAKULAM
RP No. 703 of 2007(R)
1. PEECHI SERVICE CO-OPERATIVE BANK,
... Petitioner
Vs
1. JOSEPH J.THERMADAM, SON OF T.J.JOSE,
... Respondent
2. THE ASSISTANT REGISTRAR FOR
For Petitioner :SRI.V.G.ARUN
For Respondent :GOVERNMENT PLEADER
The Hon'ble MR. Justice A.K.BASHEER
Dated :25/07/2007
O R D E R
A.K. BASHEER, J.
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R.P. NO. 703 OF 2007
IN
W.P.(C) NO.18847 OF 2007
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Dated this the 25th day of July, 2007
O R D E R
I have heard learned counsel for the parties and perused the
averments made in the review petition.
2. It is contended by learned counsel for the review
petitioner/Co-operative Bank that the amount payable by the writ
petitioner/respondent No.1 will be Rs. 3,37,682/- as on July 23, 2007. This
Court had directed the writ petitioner to deposit only Rs.2.75 lakhs and the
Bank in turn was directed to return the originals of title deeds to him on
making such deposit.
3. However, it is pertinent to note that it was made clear in the
judgment that writ petitioner may have to pay any other amount over and
above the sum of Rs. 2.75 lakhs, if the Bank had made such a demand. It
may be noticed that the grievance of the writ petitioner was that the Bank
was refusing to return the original documents though he had offered to
deposit whatever was allegedly due from him.
4. Anyhow, I do not propose to go into those questions again
since learned counsel for respondent No.1 submits that petitioner is
prepared to pay any such amount, which this Court may direct him to
deposit over and above Rs.2.75 lakhs.
RP NO.703/07 Page numbers
5. Therefore, the review petition is closed with a direction that
respondent No.1/writ petitioner shall deposit a further sum of Rs. 60,000/-
over and above Rs.2.75 lakhs as directed in the judgment. On deposit of
the entire amount of Rs. 3.35 lakhs, the Bank shall release the original
documents to the petitioner forthwith. The amount of Rs. 3.35 lakhs shall
be kept in a fixed deposit account. The interest accrued thereon shall also
be kept in the account. The question regarding the entitlement of the Bank
to claim interest till the discharge of the entire liability shall be subject to the
result of the arbitration proceedings, which is admittedly pending.
Before I close this review petition, I record the submission made
by learned counsel for the writ petitioner that he is prepared to settle the
entire dispute under the “One Time Settlement Scheme”, if the Bank is
prepared to do so and intimates to him the total amount due under the
Scheme. Learned Standing Counsel for the Bank submits that if the
Scheme is still in operation, petitioner will be granted the benefits, if he is
eligible.
A.K. BASHEER, JUDGE
vps
RP NO.703/07 Page numbers
A.K. BASHEER, JUDGE
OP NO.20954/00
JUDGMENT
RP NO.703/07 Page numbers
1ST MARCH, 2007