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Madras High CourtWP/11018/2023disposed of

Proprietor S.R.S.Exports v. The Karur Vysya Bank Ltd

2023-08-10Honourable The Chief Justice,Honourable Mr Justice P.D.Audikesavalu4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 10.08.2023 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU Proprietor S.R.S.Exports S.Rajasekara Reddy Old No.5, New No.9 Artisan Shanmugam Street, Ayanavaram Chennai - 600 023.

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Petitioner Vs.

The Karur Vysya Bank Limited T.Nagar Branch, Chennai - 17.

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Respondent Prayer: Petition filed under Article 226 of the Constitution of India seeking a writ of Mandamus, directing the respondent to return the deposit amount of Rs.17,75,000/- (Rupees Seventy Five Thousand Only) along with accrued interest within the time frame fixed by this Hon'ble Court.

For the Petitioner : Mr.M.Ashok For the Respondent : Mr.S.Udayakumar

ORDER

(Made by the Hon'ble Chief Justice) Heard Mr.M.Ashok, learned counsel for the petitioner and Mr.S.Udayakumar, learned counsel for the respondent.

2. Learned counsel for the petitioner submits that the petitioner had deposited Rs.14 lakhs with the Bank with an intent to purchase the property. However, the petitioner could not pay the balance amount and a sum of Rs.3.75 lakhs is deposited with the Debts Recovery Tribunal.

3. Learned counsel for the Bank submits that the Bank is ready to refund Rs.14 lakhs to the petitioner.

4. Learned counsel for the petitioner submits that the Bank be directed to pay interest on the said amount.

5. In fact, as the Bank is ready to pay the amount, the Bank shall pay Rs.14 lakhs to the petitioner within a period of two weeks from today (i.e., 10.08.2023). As far as the amount deposited with

the Debts Recovery Tribunal is concerned, the petitioner may appear before the Debts Recovery Tribunal for withdrawal of the said amount, for which the Bank has no objection.

6. With the aforesaid observations, the writ petition stands disposed of. There will be no order as to costs. (S.V.G., CJ.) (P.D.A., J.) 10.08.2023 Index :

Yes/No :

Yes/No drm

THE HON'BLE CHIEF JUSTICE AND P.D.AUDIKESAVALU, J.

(drm) W.P.No .11018 of 2023 10.08.2023