Mrs.Saraswathi, v. Bank Of India
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 03.01.2023 CORAM :
THE HON'BLE MR.T.RAJA, ACTING CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE D.BHARATHA CHAKRAVARTHY
1. Saraswathi
2. Lakshmi Pathi Raj B ..
Petitioners Vs.
Bank of India Rep. by its Assistant General Manager- cum-Power Agent Gandhipuram Branch No.41/46, Ground Floor DBMS Arakattalai Building Complex 7th Street, Tatabad Coimbatore 641 012.
..
Respondent Prayer: Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of Mandamus directing the respondent to accept the entire loan consideration to the tune of Rs.7,73,45,566.40 with interest and other charges from the petitioners herein within a period of three months or any time limit as fixed by this Court and close the loan accounts bearing Nos.817630110000087,
817665710000004, 817670410000119 and further direct the respondent to hand over possession of the properties given as collateral security to the petitioners herein and declare the same as encumbrance free.
For the Petitioners : Ms.R.P.Rangeela For Mr.M.Harish Kumar For the Respondent : Mr.F.B.Benjamin George
ORDER
(Order of the Court was made by the Hon'ble Acting Chief Justice) The petitioners seek a direction to the respondent to accept the entire loan consideration, with interest and other charges, within a period of three months, to close the loan accounts and to hand over possession of the properties given as collateral security on the ground that the respondent Bank has refused to receive the repayment of loan.
2. Mr.F.B.Benjamin George, learned counsel appearing for the respondent Bank, submitted that if any borrower or guarantor is willing
to repay the entire loan amount, no Bank will hesitate to receive the same. The petitioners, without approaching the respondent Bank, cannot state that the respondent Bank has refused to receive the repayment of entire loan amount.
3. Indisputably, no Bank will hesitate to receive the repayment of entire loan amount. Thus, the allegation of the petitioners that the respondent Bank has refused to receive the repayment of entire loan amount, without approaching the respondent Bank, is untenable and unsustainable. Finding no merit, this writ petition is dismissed. However, the petitioners are at liberty to approach the respondent Bank for repayment of loan amount. There will be no order as to costs. Consequently, WMP Nos.34667 and 34668 of 2022 are also dismissed. (T.R., ACJ.) (D.B.C., J.) 03.01.2023 Index : Yes/No kpl
To:
Assistant General Manager-cum-Power Agent Bank of India Gandhipuram Branch No.41/46, Ground Floor DBMS Arakattalai Building Complex 7th Street, Tatabad Coimbatore 641 012.
T.RAJA, ACJ.
AND D.BHARATHA CHAKRAVARTHY, J.
(kpl) 03.01.2023