LAWS(NCD)-2010-4-14

MADHU JAIN Vs. CHAIRMAN STATE BANK OF INDIA

Decided On April 29, 2010
MADHU JAIN Appellant
V/S
CHAIRMAN, STATE BANK OF INDIA Respondents

JUDGEMENT

(1.) The husband of the complainant had taken loan for his factory from the OP-Bank. The business activities of the husband of the complainant had closed in the year 2004-2005 and her husband had died on 7.12.2007. The OP had filed a civil suit for recovery for the amount due against her husband on 27.10.2007. The loan amount was paid on 20.6.2008 and "No Due Certificate" was issued by the OP on 11.7.2008. However, the civil suit was continued against her husband in spite of having paid the entire amount due and even legal heirs of her husband were not brought on record. The complainant sought return of property documents after the payment of the amount due but, on one pretext or the other, the OP did not release the documents in spite of the complainant having executed Indemnity Bond as required by OP. According to the complainant, the suit was kept alive and the documents were not returned with the intention of grabbing the said property of the complainant. The complainant had accordingly filed complaint-seeking compensation as also directions to return the property papers. An interim application has been filed for release of property documents.

(2.) The OPs in their reply to the interim application have stated that the OP is ready and willing to deliver the title deeds to the legal heirs, in case this Hon'ble Commission is satisfied that the complainant is entitled to receive the same. According to the OP, the complainant had not complied with the formalities for return of the documents even though the loan amount had been paid and the documents were not returned.

(3.) We have heard Counsel appearing on both sides.