P.T.DAMODHARAN Vs. SYNDICATE BANK

JUDGEMENT

(1.) PETITIONER seeks the following relief:

(2.) IT is not in dispute that the petitioner, along with certain other persons, had taken loan for construction of an apartment complex. It is also not in dispute that title deed of the above property having an extent of 5 cents has been mortgaged to the respondent Bank.

(3.) THE respondent Bank has filed a counter affidavit supporting their stand in the matter. The learned counsel for the Bank further submitted that if the petitioner pays the entire loan amount, a certificate in terms of Ext. P4 can be granted. However, release of the mortgage rights of the petitioner will be given only if the entire loan amount is closed by all the four persons, who had taken loan from the bank, who are the joint owners of the property.