V.Kumar v. The Branch Manager

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED 08.04.2019

CORAM

THE HONOURABLE Mrs. JUSTICE PUSHPA SATHYANARAYANA W.P.No.6796 of 2016 and W.M.P.No.6061 of 2016 V.Kumar M/s.Kumar Rice Mill, Puthur Village, Ammapettai, Pabanasam Taluk, Tanjore District.

.. Petitioner Vs.

1.The Branch Manager, Indian Bank, Thenpathi Branch, No.20, Main Road, Thenpathi, Sirkazhi, Nagapattinam District.

2.The Senior Regional Manager, Tamil Nadu Civil Supplies Corporation Ltd., Tanjore Region, Tanjore, Tanjore District. .. Respondents PRAYER : Writ Petitions filed Under Article 226 of the Constitution of India praying to issue a Writ of Mandamus forbearing the 1st respondent from insisting the petitioner to pay the interest at the rate of 21.65% for entire Rs.75/- lakhs lying with the 1st and 2nd respondents account. For Petitioner : Mr.C.Prakasam For R1 : Ms.S.R.Sumathy For R2 : Mr.L.P.Shanmugasundaram

O R D E R

The writ petition has been filed for a mandamus forbearing the first respondent from insisting the petitioner to pay the interest at the rate of 21.65% for entire Rs.75/- lakhs lying with the first and second respondents account.

2. Heard both sides.

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3. Upon instructions, the first respondent-Bank has filed counter stating as follows:

This respondent humbly submit that M/s.Kumar Rice Mill availed Rs.75,00,000/- Guarantee with this respondent Bank. While so, the guarantee was revoked and Rupees Seventy Five Lakhs was remitted to TNCSC on 11.11.2014. Whereas, TNCSC remitted Rs.60,46,561/- on 27.03.2015. The remaining amount was Rs.14,53,439/- with interest. M/s.Kumar Rice Mill offered one time settlement with concession interest of Rs.2,02,671.31 on 27.07.2016. Hence, in the above circumstances, M/s.Kumar Rice Mill has completely discharged its entire liability with the respondent-Bank.

Hence it is submitted that petitioner's Guarantee Account closed on 27.07.2016 for an amount of Rs.91,645/-.

4. Recording the same, the writ petition is closed. No costs. Consequently, connected miscellaneous petition is closed. Sd/- Assistant Registrar(CS IV) //True Copy// Sub Assistant Registrar rsi To The Senior Regional Manager, Tamil Nadu Civil Supplies Corporation Ltd., Tanjore Region, Tanjore, Tanjore District.

+1cc to Special Government Pleader(co.op)Sr.No.34324 +1cc to Mr.L.P.Shanmugasundaram, Advocate, Sr.No.34470 +1cc to Mr.C.Prakasam, Advocate, Sr.No.34652 +1cc to Mrs.S.R.Sumathy, Advocate, Sr.No.34658 W.P.No.6796 of 2016 and W.M.P.No.6061 of 2016 pm(co) mp(20/05/2019) https://hcservices.ecourts.gov.in/hcservices/