Madhusala Restuarant And Bar v. Indian Bank,

THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO AND THE HON'BLE DR. JUSTICE B. SIVA SANKARA RAO WRIT PETITION No. 39670 OF 2015 O R D E R : (per Hon'ble Sri Justice Nooty Ramamohana Rao) This Writ Petition is filed seeking a writ of mandamus for declaring the action of the 2nd respondent Indian Bank, Warangal Branch in not releasing the mortgaged property and not returning the original document bearing No. 1986/2009, dated 02.05.2009 deposited with it, in spite of clearing the loan amount totally, as illegal and arbitrary.

Today, the learned counsel for the petitioner Sri Alladi Ravinder and Sri Ambadipudi Satyanarayana, learned Standing Counsel for the respondent bank both would submit that the loan account has been closed yesterday after receiving whatever little money that was found still due and payable by the petitioner. In these set of circumstances, it is only fair that the 2nd respondent bank should issue a certificate that the petitioner has cleared the loan account and accordingly, the original title deed which has been deposited with the 2nd respondent bank at the time of availing the loan, shall be returned to the borrower as early as is possible, at any rate within a period of 15 days from today, if the same property is not the subject matter of any security interest in respect of any other outstanding loan account.

With this, the Writ Petition stands disposed of. No costs. Consequently, the miscellaneous applications, if any shall also stand disposed of.

----------------------------------------- NOOTY RAMAMOHANA RAO, J

---------------------------------------- DR. B. SIVA SANKARA RAO, J 01st March 2016 ksld