M/S.Nagoorar Constructions Private v. M/S.Indian Bank

2024:MHC:6336

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 13.02.2024 CORAM :

THE HONOURABLE DR.JUSTICE ANITA SUMANTH M/s. Nagoorar Constructions Private Limited, Rep. by its Managing Director Mr.N.Sahul Hameed, Old No.5, New No.11, Subramani Nagar, 3rd Main Road, Valasaravakkam, Chennai - 600 087 .. Petitioner vs 1.M/s.Indian Bank Stressed Assets Management Large Branch, Rep. by its Assistant General Manager, Ethiraj Salai, Egmore, Chennai - 600 008.

2.M/s.Indian Bank Stressed Assets Management Branch, Rep. by its Branch Manager, 100/101, East Avani Moola Street, Madurai - 625 001.

.. Respondents Petition filed under Article 226 of the Constitution of India praying to issue a writ of mandamus directing the respondents to handover the document namely Sale Deed dated 02.08.2016 executed by M/s.Sitalakshmi Mills Limited, in favour of petitioner Nagoorar Constructions Private Limited, registered as Documet No. 5080/2016 before SRO Madurai South Joint - I, that is deposited by the petitioner with the 2nd respondent.

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For Petitioner :

Ms.S.Menaka For Respondents :

Mr.P.V.Muralidhar for R1 No appearance for R2

ORDER

This writ petition has been filed by a Company seeking a mandamus directing the respondents, being the Stressed Assets Management Large Branch of the Indian Bank, to hand over the document dated 02.08.2016 executed by M/s.Sitalakshmi Mills Limited, in favour of the petitioner registered as Document No. 5080/2016 before SRO - Madurai South Joint - I, deposited with R2 to it. (sale deed in question).

2.

Mr.P.V.Muralidhar, learned counsel, who appears for R1, on instructions, would refer to an affidavit executed by the Managing Director of the petitioner / Company - N. Shahul Hameed, to the effect that upon receipt of the sale deed, efforts shall be taken to dispose the property and discharge the liabilities from out of the sale proceeds expeditiously.

3.

Hence, Mr.P.V.Muralidhar, would convey that the respondents have no objection in handing over the sale deed in question to the petitioner and that the same would be done within a 2/4

period of one week from date of receipt of a copy of this order. This is recorded.

4.

This writ petition stands disposed in terms of this order. No costs.

13.02.2024 Index:Yes/No ssm To 1.The Assistant General Manager, M/s.Indian Bank Stressed Assets Management Large Branch, Ethiraj Salai, Egmore, Chennai - 600 008.

2.The Branch Manager, M/s.Indian Bank Stressed Assets Management Branch, 100/101, East Avani Moola Street, Madurai - 625 001.

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DR. ANITA SUMANTH,J.

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