MANAGING DIRECTOR Vs. P. PONNUPANDI

JUDGEMENT

(1.) This writ appeal by the REPCO Bank is directed against the order dated 08.07.2019, passed in Rev.Apl.W.(MD) No.57 of 2019 in W.P.(MD) No. 3852 of 2019, filed by the respondent herein.

(2.) For the sake of convenience, the parties shall be referred to as the "appellant - Bank" and "petitioner" respectively.

(3.) The petitioner filed the writ petition praying for issuance of a writ of certiorarified mandamus to quash the communication issued by the appellant - Bank, dated 04.02.2019, informing him that his father Late.Sri.A.Pazhanivel had made five fixed deposits in the Bank and appointed the petitioner as a nominee. The details of the account, amount, date of deposit and date of maturity were also given. Further, the petitioner was informed that his father was the guarantor / co-borrower in respect of five loan accounts and that a general lien has been marked by the Bank over the fixed deposits of the petitioner's father for the loan accounts, wherein he was the borrower / co-borrower and guarantor. The petitioner was informed that the loan account SDL No.45, wherein his father was the guarantor, has become an NPA (Non Performing Asset) and for the said loan, a sum of Rs.6,01,890/- including interest and others upto 31.01.2019 and further interest from 01.02.2019 is to be paid for the closure of the loan account. Therefore, the petitioner, as a nominee mentioned in the fixed deposits, was advised to close the loan account SDL No.45 immediately, or else, the loan account will be closed by appropriating the amount from the fixed deposits, if the loan account is not closed within fifteen days.