{"id":104778,"date":"2010-08-05T00:00:00","date_gmt":"2010-08-04T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/ms-nellai-sons-vs-the-kerala-financial-corporation-on-5-august-2010"},"modified":"2014-07-13T10:39:32","modified_gmt":"2014-07-13T05:09:32","slug":"ms-nellai-sons-vs-the-kerala-financial-corporation-on-5-august-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/ms-nellai-sons-vs-the-kerala-financial-corporation-on-5-august-2010","title":{"rendered":"M\/S.Nellai Sons vs The Kerala Financial Corporation on 5 August, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">M\/S.Nellai Sons vs The Kerala Financial Corporation on 5 August, 2010<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C).No. 19613 of 2010(B)\n\n\n1. M\/S.NELLAI SONS, REP. BY ITS PARTNER\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. THE KERALA FINANCIAL CORPORATION,\n                       ...       Respondent\n\n                For Petitioner  :SRI.K.V.SADANANDA PRABHU\n\n                For Respondent  :SRI.A.A.ABUL HASSAN, SC, KFC\n\nThe Hon'ble MR. Justice S.SIRI JAGAN\n\n Dated :05\/08\/2010\n\n O R D E R\n                        S. SIRI JAGAN, J.\n                        ----------------------\n                  W.P.(C). No. 19613 of 2010\n                 ------------------------------------\n               Dated this the 5th day of August, 2010\n\n                            JUDGMENT\n<\/pre>\n<p>      The petitioner borrowed amounts from the Kerala Financial<\/p>\n<p>Corporation. He defaulted repayment. A suit was filed, which was<\/p>\n<p>decreed and execution was taken out by the respondent. The<\/p>\n<p>amounts were paid by the petitioner. There was a dispute as to<\/p>\n<p>whether the petitioner had paid the entire amount. Ultimately, the<\/p>\n<p>lower court, namely,     the additional District Court, Alappuzha,<\/p>\n<p>considered the execution petition and passed Ext.P1 order, wherein<\/p>\n<p>the District court found that petitioner had paid the entire decree<\/p>\n<p>debt, which was recorded. But the District Court directed the<\/p>\n<p>petitioner to pay an amount of Rs. 5,000\/- as costs. Petitioner has<\/p>\n<p>now produced Ext.P4 receipt for payment of that amount also.<\/p>\n<p>Petitioner&#8217;s grievance now is that the security documents furnished<\/p>\n<p>by the petitioner as security for repayment of the loan amount is<\/p>\n<p>not being returned despite discharge of the debt. The petitioner,<\/p>\n<p>therefore, seeks the following reliefs:\n<\/p>\n<p><span class=\"hidden_text\">W.P.(C). No. 19613 \/ 2010           2<\/span><\/p>\n<blockquote><p>          i)   To issue a writ or other order in the nature of<br \/>\n                mandamus directing the respondents to<br \/>\n                return the title deeds if need be after<br \/>\n                registering the release deed in accordance<br \/>\n                with the law.\n<\/p><\/blockquote>\n<blockquote><p>         ii)  To grant such other and further reliefs as are<br \/>\n                just and essential in the circumstances of the<br \/>\n                case with cost of this petitioner.<\/p><\/blockquote>\n<p>     2. The respondent has filed a counter affidavit taking the<\/p>\n<p>contention that the petitioner is still liable to pay an amount of<\/p>\n<p>Rs.62330\/-, which represents Rs. 36,000\/- short paid and<\/p>\n<p>interest thereof. Therefore, the stand of the respondent is that<\/p>\n<p>unless the petitioner pays a further amount of Rs. 62,330\/-, the<\/p>\n<p>security documents cannot be returned to the petitioner.<\/p>\n<p>     3.     I have considered the rival contentions in detail. In<\/p>\n<p>Ext.P1 order, the District Court held thus:\n<\/p>\n<blockquote><p>                 &#8220;Heard both sides. I have perused the<br \/>\n           statement filed by both sides. As per the<br \/>\n           statement filed by the D.H. on 27.02.2008 the<br \/>\n           balance payable is Rs. 814779.62. As per the<br \/>\n           statement filed by the J.D as on 03.03.2008 the<br \/>\n           balance     payable   was     Rs.753125\/-.    On<br \/>\n           17.03.2008 a sum of Rs.5,00,000\/-(Five lakh<br \/>\n           only) was paid which was received by the counsel<br \/>\n           on behalf of the D.H as per Memo dated<br \/>\n           17.03.2008. On 27.03.2008 again a         sum of<br \/>\n           Rs.253125\/-(Rs.Two lakh fifty      three thousand<br \/>\n           one hundred and twenty five only) was paid by<br \/>\n           the J.D which was received by the counsel on<\/p>\n<p><span class=\"hidden_text\">W.P.(C). No. 19613 \/ 2010          3<\/span><\/p>\n<p>          behalf    of   the D.H   as  per   Memo     dated<br \/>\n          27.03.2008. By virtue of these two payments the<br \/>\n          J.D had paid the entire decree amount according<br \/>\n          to the learned counsel for the J.D. Both<br \/>\n          statements have been filed taking interest at<br \/>\n          11% simple. After verifying the statement filed<br \/>\n          the D.H. I noticed that 5 payments aggregating<br \/>\n          to Rs. 36,000\/- were not given credit to. I have<br \/>\n          verified the receipts for the  above payments.<br \/>\n          These payments were not incorporated in the<br \/>\n          statement of the D.H due to an oversight. BY<br \/>\n          giving credit to the above amount it can be seen<br \/>\n          that the J.D. had paid the entire decree amount<br \/>\n          less costs. It is made clear here that the J.D is<br \/>\n          not bound to pay interest on delayed credit of<br \/>\n          payments. If so it has to be found that the J.D<br \/>\n          had paid the entire decree debt less costs. The<br \/>\n          cost claimed is only Rs. 329\/-. The D.H is also<br \/>\n          not entitled to claim cost by including the same<br \/>\n          in the statement of account. It is an amount to<br \/>\n          be allowed by the court. Considering the whole<br \/>\n          matter and after hearing both sides, I feel that<br \/>\n          the cost of Rs. 5000\/- can be allowed to the D.H.<br \/>\n          This is the only amount that is now payable by<br \/>\n          the J.D. This amount are J.D. will pay within one<br \/>\n          week with this payment full satisfaction of the<br \/>\n          decree has to be recorded. For payment of cost<br \/>\n          of Rs.5000\/- to 23.06.2008.&#8221;\n<\/p><\/blockquote>\n<blockquote><p>     4. That order has not been challenged by the respondent.\n<\/p><\/blockquote>\n<p>Therefore, as on today, the respondent is bound by Ext.P1 order<\/p>\n<p>of the District court, which categorically holds that the petitioner<\/p>\n<p>has paid the entire decree debt less costs.        The petitioner has<\/p>\n<p>produced receipt for payment of the costs of Rs.5,000\/- also.<\/p>\n<p><span class=\"hidden_text\"> W.P.(C). No. 19613 \/ 2010        4<\/span><\/p>\n<p>That being so, unless Ext.P1 is set aside, the respondent cannot<\/p>\n<p>insist on the petitioner paying any further amount as per the<\/p>\n<p>decree. Therefore, the respondent is liable to return the security<\/p>\n<p>documents furnished by the petitioner as security for the<\/p>\n<p>repayment of the loan amount. Accordingly, this writ petition is<\/p>\n<p>allowed and the respondent is directed to return the title deeds of<\/p>\n<p>the properties given as security for repayment of the loan amount<\/p>\n<p>taken by the petitioner and release the charge in respect of<\/p>\n<p>thereof as expeditiously. The title deeds shall be returned within a<\/p>\n<p>period of two weeks from the date of receipt of a copy of this<\/p>\n<p>judgement and the release deed shall             be executed as<\/p>\n<p>expeditiously as possible   at any rate within a period of      two<\/p>\n<p>months from the date of receipt of a copy of this judgement.<\/p>\n<p>                                       S. SIRI JAGAN, JUDGE.\n<\/p>\n<p>ln<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court M\/S.Nellai Sons vs The Kerala Financial Corporation on 5 August, 2010 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C).No. 19613 of 2010(B) 1. M\/S.NELLAI SONS, REP. BY ITS PARTNER &#8230; Petitioner Vs 1. THE KERALA FINANCIAL CORPORATION, &#8230; Respondent For Petitioner :SRI.K.V.SADANANDA PRABHU For Respondent :SRI.A.A.ABUL HASSAN, SC, KFC The Hon&#8217;ble [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,21],"tags":[],"class_list":["post-104778","post","type-post","status-publish","format-standard","hentry","category-high-court","category-kerala-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>M\/S.Nellai Sons vs The Kerala Financial Corporation on 5 August, 2010 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/ms-nellai-sons-vs-the-kerala-financial-corporation-on-5-august-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M\/S.Nellai Sons vs The Kerala Financial Corporation on 5 August, 2010 - Free Judgements of Supreme Court &amp; 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