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Madras High CourtWP/32409/2024dismissed

M/S.Petro Plast Industries Limited v. Tamilnadu Mercantile Bank Ltd

2024-12-17Honourable The Chief Justice,Honourable Mr Justice Senthilkumar Ramamoorthy4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 17.12.2024

CORAM

THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY and WMP Nos.40035, 35189 of 2024 1.M/s.Petro Plast Industries Ltd Rep. By its Director Om Prakash Agarwal 2.Om Prakash Agarwal 3.Raj Kumar Agarwal 4.Usha Agarwal 5.Ajay Kumar Agarwal 6.Amit Kumar Agarwal 7.Petro Enterprises, Rep. By its Director Om Prakash Agarwal : Petitioners versus Tamil Nadu Mercantile Bank Ltd.

Rep by its Manager George Town Branch No.194 Anna Pillai Road

Chennai- 600 001.

: Respondent Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus directing the Respondent Bank to issue a full satisfaction memorandum pursuant to payment of a sum of Rs.44,06,793.38 as sought by the Respondent Bank and consequently direct the Debt Recovery Tribunal -III to release the attachment of properties mentioned vide order dated 01.02.2024 in T.R.C. 320 of 2023 and in the schedule to the writ petition to permit. For Petitioners :

Ms.Ramya Subramaniam For Respondent :

Mr.Rajendran Raghavan

ORDER

(Order of the Court was made by the Hon'ble Chief Justice) Petitioners have an alternative remedy, looking at the relief sought. Petitioners may approach the Recovery Officer or Debts Recovery Tribunal-III, Chennai, for whatever reliefs they wish to seek.

2. Petition is dismissed. There will be no order as to costs. Consequently, all the interim applications also stand disposed of.

3. At this stage, Mr.Rajendran Raghavan states that before the end

of this week, the Bank will provide a statement to Ms.Ramya Subramanian as to what is the outstanding and the working.

4. Statement accepted as an undertaking given to this Court.

5. Mr.Rajendran Raghavan states that once petitioners clear all the outstanding, certainly, a full satisfaction memo shall be issued promptly. (K.R.SHRIRAM, CJ.) (SENTHILKUMAR RAMAMOORTHY, J.) 17.12.2024 Index : Yes/No : Yes/No tar To 1.The Debts Recovery Tribunal-III, Chennai

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

(tar) 17.12.2024