NAND KUMAR ADIL Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This writ appeal is directed against the impugned order dtd. 28/8/2019 by which the appellant's writ petition being W.P.(C)No.328/2015 has been dismissed by the learned Single Judge finding no merit and in view of the fact that the appellant has right under Sec. 60 of the Transfer of Property Act, 1882 to file suit for redemption of the mortgaged property.

(2.) Challenge to the impugned order has been made by the appellant in the following factual backdrop: -

(3.) The writ appellant herein / writ petitioner was granted term loan by the respondent Bank and in lieu of that, the appellant had created an equitable mortgage in favour of the respondent Bank by way of deposit of his title deeds in respect of the property comprising of Khasra No.276/6, area 0.105 hectare, situate at Hathbandh, Tahsil Simga, Distt. Baloda Bazaar-Bhatapara and Khasra No.2, area 1.316 hectares, situate at Village Kukarachunda, Tahsil Simga, Distt. Baloda Bazaar-Bhatapara, but the appellant could not repay the term loan leading to issuance of notice by the Bank under Sec. 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and possession notice / demand notice was also issued against the appellant pursuant to which on 28/11/2013, the appellant deposited the entire loan amount and the execution case levied against him was withdrawn by the respondent Bank and consequently, since the entire loan amount was paid-off by the appellant, on 29/11/2013, he requested the bank to return the original title deeds deposited by him by way of equitable mortgage, which were not returned by the respondent Bank referring to other liabilities of the appellant herein in the Neora Branch of the respondent Bank as a result of which 15 civil suits of ? 7,50,000/- each have been decreed with 10% interest with effect from 11/1/2012 along with cost and consequently, the appellant filed writ petition seeking writ of mandamus directing the respondent Bank to return the title deeds deposited by way of mortgage, as the entire loan amount has already been paid-off. The learned Single Judge dismissed the writ petition filed by the appellant herein holding that under Sec. 60 of the Transfer of Property Act, 1882, the writ petitioner / appellant has right to redeem the mortgaged property by filing appropriate suit before the civil court and in that view of the matter, the writ petitioner is not entitled for writ of mandamus as sought for against which the writ petitioner / appellant has preferred the instant writ appeal.