VINU MADHAVAN Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The writ petitioner who has availed housing loans from the State Bank of India, Vennala Branch, Kochi, respondent No.1, has filed the writ petition, seeking a writ of mandamus commanding the respondents to release the security documents, including the original title deed pertaining to Exhibit P1, to the petitioner at the earliest and for other related reliefs.

(2.) Brief material facts for the disposal of the writ petition are as follows: The petitioner, in the year 2015, has availed housing loans for a total amount of Rs.16.00 lakhs from the respondent Bank by mortgaging the original of Exhibit P1 title deeds of his property. According to the petitioner, his business collapsed and to tide over the said situation, during the year 2016, the petitioner 's wife got her share in cash from her family and offered to invest the same into the petitioner 's business, subject to the condition that share in the petitioner 's property including the right and ownership of the first floor of the building therein would be assigned to her. Accordingly, a deed was executed in favour of the petitioner 's wife.

(3.) Thereafter, in the year 2022, the respondent Bank was made aware of the execution of settlement deed in respect of the mortgaged property and thereupon, the Bank asked the petitioner to close the loan accounts. Accordingly, the loans were closed by the petitioner on 7/4/2022, as is evident from Exhibit P3 closure letter dtd. 12/4/2022. Even though the petitioner requested to release the security documents, including title deed of his property, the Bank did not take any action.