V. Srikanth, v. Canara Bank

THE HON'BLE SRI JUSTI CE C.V.NAGARJUNA REDDY AND THE HON'BLE SRI JUSTI CE G.SHYAM PRASAD WRI T PETI TI ON No.31561 of 2016 21.09.2016 Between:

V.Srikanth ..Petitioner And The Canara Bank, Vijayawada and another ..Respondents Counsel for the petitioner: Mr.R.Siva Sai Swaroop Counsel for the respondents: -- The Court made the following:

CVNR, J & GSP, J W.P.No.31561 of 2016 21.09.2016 ORDER: (Per the Hon'ble Sri Justice C.V.Nagarjuna Reddy) This writ petition is filed by the petitioner, the borrower under a loan transaction with respondent No.1, with the grievance that despite paying off the entire dues of Rs.20,53,717/- under one time settlement (OTS), the said respondent has not been returning the original title deeds mortgaged by him.

2.

Mrs.Shiva Kumari, learned standing counsel for the Canara Bank appearing for respondent No.1, on instructions, has submitted that the original title deeds are filed by her client before the Debts Recovery Tribunal, Visakhapatnam, before which, recovery proceedings instituted by her client are pending. She has, however, undertaken that in view of repayment of the entire loan amount under OTS, respondent No.1 will take return of the original documents from the Debts Recovery Tribunal, Visakhapatnam and return the same to the petitioner, within a reasonable time. 3.

Having regard to the above submissions of the learned standing counsel, the Writ Petition is disposed of, with the direction to respondent No.1 to take return of the original title deed(s) from the Debts Recovery Tribunal, Visakhapatnam, and handover the same to the petitioner, within a period of one month from the date of receipt of a copy of this order. 4.

As a sequel to disposal of the writ petition, W.P.M.P.No.39041 of 2016 filed by the petitioner for interim relief shall stand disposed of as infructuous. ___________________________ C.V.NAGARJUNA REDDY, J ______________________ G.SHYAM PRASAD, J 21st September, 2016 GHN