M SURESH Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) THE prayer in the writ petition is to issue a writ of mandamus directing the respondents to return the Tractor bearing registration No.TN-23-AV-9516 and the Trailer bearing registration No.TN-23-AV-9625 to the petitioner under Loan A/c.No.30129202318 in view of the waiver of agricultural loans by the Central Government.

(2.) THE case of the petitioner is that the petitioner purchased Tractor and Trailer after raising loan from the respondent Nationalised Bank. THE loan amount sanctioned was Rs.5 lakhs bearing loan A/c.No.30129202318. An agreement was entered into with the respondent, however copy of the same was not furnished to him. According to the terms of the agreement, petitioner has to pay Rs.30,000/- once in six months for a period of nine years. THE petitioner gave his mother's property situated in Pudupattu Village, Arakkonam Taluk, Vellore District, towards collateral security. Petitioner purchased a new Tractor bearing registration No.TN-23-AV-9516 along with Trailer bearing registration No.TN-23-AV-9625. As the Tractor and Trailer were purchased on hire purchase basis, the respondent Bank name is found in the RC book. Petitioner claims that he was paying the installments without any default after the amount was sanctioned on 19.2.2007.

(3.) HEARD the petitioner, who appeared as party-in-person and the learned counsel for the respondent.