Ramanan.N v. The Punjab National Bank

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 11.12.2024 CORAM :

THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY Ramanan.N ... Petitioner -vsThe Punjab National Bank Rep. by its Authorized Officer, Washermenpet, Chennai-21.

... Respondent Prayer : Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of mandamus to direct the 1st respondent to invoke section 14 of the SARFAESI Act and to take possession of the immovable property which is situated at No.45, 20 feet road, Eranavur, Chennai-57, comprised in S.No.129/5, 129/6, new survey no.129/4 part 5, part 6, TS. No.6/15 at Ward 027 C, Block 01 Chennai, Thiruvottiyur, Eranavur Village, measuring an extent of 11 cents of land bounded on the North by R.Kanchan's land, South by 20 feet road, East by Bimal Kishore Ojha's land which is Manali express road and West by Patta land.

For Petitioner :

M/s.Selvi George For Respondents :

Mr.M.L.Ganesh for sole respondent :

Mr.A.Arun Babu Stdg. Counsel for Corporation.

* * * * *

ORDER

(Order of the Court was made by the Hon'ble Chief Justice) Mr.Ganesh says that if petitioner wants, the bank will return the money that was paid by petitioner for purchasing the property from the bank.

2. Ms.Selvi George states that petitioner is agreeable for return of the money. She states that a reasonable interest be given. Mr.Ganesh leaves it to the Court.

3. The bank is directed to return the money together with 6% interest thereon compounded annually, so also the stamp duty and registration charges paid.

4. The bank, at its cost, shall prepare the documents for release/ cancellation of deed and invite petitioner within two weeks from today to sign the release/cancellation of deed. Within three working days of signing the document, the entire amount of consideration paid, stamp duty and registration charges together with interest as mentioned above be returned to petitioner. If this is not strictly complied with, petitioner may move for contempt.

Petition is disposed of. There shall be no order as to costs. (K.R.SHRIRAM., CJ.) (SENTHILKUMAR RAMAMOORTHY, J.) 11.12.2024 Index :

Yes/No NC :

Yes/No sra To:

The Authorized Officer, The Punjab National Bank Washermenpet, Chennai-21.

THE HON'BLE CHIEF JUSTICE AND SENTHILKUMAR RAMAMOORTHY ,J.

(sra) 11.12.2024