BANK OF BARODA Vs. SARAS CABS PVT. LTD.

JUDGEMENT

(1.) THIS application has been filed by respondent No. 2 for directing the appellant Bank to return the title and other property documents given to it for creating the mortgage and also to issue the 'No Dues' Certificate. The appellant has filed reply to that application, opposing the same. It has also filed a synopsis of its written submissions.

(2.) I have heard Mr. Sanjiv Kakra on behalf of the respondent/applicant and Mr. K.K. Sharma, learned Sr. Advocate, on behalf of the appellant/non -applicant Bank and perused the record.

(3.) MR . Kakra has pointed out that during the pendency of the aforesaid appeals, one time settlement (OTS) proposal in Rs. 355 lacs, made by respondent No. 2 on behalf of M/s. Saras Cabs Pvt. Ltd. and M/s. Abhinav Enterprises vide letter dated 9.11.2012 (Annexure -A) and tendering an amount of Rs. 85 lacs along with it, was sanctioned/accepted by the Bank vide its letter dated 8.3.2013 (Annexure -B) inter alia with the following conditions: