M/S. S.P Palaniappan And Co v. Icici Bank

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 19.09.2023 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU M/s. S.P.Palaniappan & Co New No.52, Old No.62, Sembudoss Street Chennai 600 001 Rep. by its Partner/Authorised Signatory Rajmohan.

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Petitioner Vs.

M/s. ICICI Bank 3rd Floor, No.1, Cenotaph Road Teynampet Chennai 600 018.

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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 close the Loan Account No.057405000498 and return the documents pertaining to redeemed property situate at No.3052 Krest Park Apartments, Basavangudi, Bangalore 560 004.

For the Petitioner : Mr.Prahalad Bhat For the Respondent : Mr.Elayaraja Kumar For M/s. Ramalingam & Associates

ORDER

(Made by the Hon'ble Chief Justice) We have heard Mr.Prahalad Bhat, learned counsel for the petitioner and Mr.Elayaraja Kumar, learned counsel for the respondent.

2. It is submitted that the auction purchaser has raised certain objection with regard to the documents of the property sold by the bank in auction.

3. Learned counsel for the bank submits that if the petitioner is ready to furnish an indemnity bond, as sought by the bank, then, the title deeds would be released.

4. Learned counsel for the petitioner submits that the petitioner

is ready to furnish the indemnity bond.

5. The petitioner may submit the indemnity bond to the bank, as suggested and upon the indemnity bond being furnished, the bank would release the title deeds.

6. With the aforesaid observation, the writ petition stands disposed of. There will be no order as to costs. Consequently, W.M.P.No.20379 of 2023 is closed.

(S.V.G., CJ.) (P.D.A., J.) 19.09.2023 Index :

Yes/No :

Yes/No kpl To M/s. ICICI Bank 3rd Floor, No.1, Cenotaph Road Teynampet Chennai 600 018.

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

(kpl) 19.09.2023