J. RAJESHWARI Vs. STATE GOVT. OF TAMIL NADU

JUDGEMENT

(1.) The instant writ petition has been filed challenging the order dtd. 26/8/2009, passed by the third respondent, rejecting the claim of the petitioner seeking refund of the excess money collected by the third respondent by not following the G.O.(D) No. 245 dtd. 2/12/2003, One Time Settlement Scheme for chronic Non-Performing Assets as on 31/3/2000.

(2.) It is the case of the petitioner that she borrowed a term loan of Rs.7,68,500.00 at 18% p.a. to be repaid in 60 monthly instalments from the third respondent Cooperative Bank. As security for the said loan, the petitioner's husband gave his landed properties measuring 93 cents in Survey No. 257/2 in Puthupalayam Village, Rajapalayam and also residential house bearing Door No. 159-A, Ward No. 21.

(3.) According to the petitioner, their business suffered huge loss, which resulted in default in the repayment of the loan to the third respondent. According to the petitioner, even though the loan availed was only Rs.7,68,500.00 she has repaid a total sum of Rs.17,15,154.00 to the third respondent, though belatedly. According to the petitioner, the interest charged by the Cooperative Bank like that of the third respondent, is exorbitant, which is one of the reasons for the petitioner's default in the repayment of the loan.