LAWS(MAD)-2022-7-134

CHANDRA Vs. BRANCH MANAGER, REPCO BANK

Decided On July 07, 2022
CHANDRA Appellant
V/S
Branch Manager, Repco Bank Respondents

JUDGEMENT

(1.) The petitioner seeks issuance of Writ of Mandamus, directing the respondent / Bank to release the documents relating to the property mortgaged by her to secure borrowings under the loan Account No.02-001- 0000002842.

(2.) It is the contention of the petitioner that the petitioner had offered her immovable property as a security and borrowed a sum of Rs.18,00,000.00 from the respondent / Bank. According to the petitioner, she had repaid the loan but the respondent / Bank refused to return the documents that were entrusted with the Bank as a security for the loan borrowed by her. The Bank had sent a reply, stating that the documents cannot be returned, since there is a default in payment of two loan accounts in SLR-60 and SLR-88 availed by one Vijaya along with her son Praveen, the repayment of which, the petitioner had guaranteed.

(3.) It is also stated that SARFAESI proceedings are pending in respect of those two loan accounts. While the learned counsel for the petitioner would rely upon the judgment of the Hon'ble Division of this Court in M.Shanthi Vs. Bank of Baroda rendered in W.P(MD).No.12613 of 2016 in support of his submissions, the learned counsel for the respondent / Bank would invite my attention to the judgment of the Hon'ble Supreme Court in Syndicate Bank Vs. Vijay Kumar and Others reported in AIR 1992 SC 1066, the judgment of the Hon'ble Division of this Court in C.R.Ramachary and Others Vs. Indian Overseas Bank and Others reported in 2019 (2) CTC 645 and the judgment of another Hon'ble Division Bench of this Court in State of Bank of India, Kotagiri Branch Vs. Chokkalingam and Others reported in (2008) 1 MLJ 1009.