SUNNY THOMAS Vs. KERALA STATE CO-OPERATIVE BANK

JUDGEMENT

(1.) The petitioners have filed this writ petition seeking to quash Exts.P5 and P6 and to command respondents 4 and 5 to release the security title deeds, loan papers and other documents in connection with the loan account No.1059/274/18 to the petitioners on the basis of the repayment of entire due amount and to redeem the mortgaged properties. The petitioners have also sought incidental reliefs.

(2.) The petitioners state that they avail ed a housing loan of Rs.3.00 lakhs from the Kannur District Co-operative Bank Limited on 16/3/2015. The petitioners executed a memorandum of agreement of mortgage of 18 Cents of property by deposit of title deeds in favour of the Bank.

(3.) The petitioners state that in the year 2017, due to temporary financial crunch, the petitioners could not make remittances properly. On 13/4/2020, the petitioners approached the Bank and expressed their intention to settle the entire dues and to redeem the mortgage. The 2nd respondent stated that the total outstanding principal amount of loan as on 13/4/2020 is Rs.2,68,701.00 and the interest amount is Rs.89,843.00. At the request of the petitioners, the Bank transferred the said amounts from the petitioners' savings account to the loan account whereby the loan was cleared.