Sri Lakshmi Pulverisers v. The Managing Director

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 06.12.2024

CORAM

THE HONOURABLE MR.JUSTICE G.K.ILANTHIRAIYAN and W.M.P(MD)Nos.14536 of 2019 & 8302 of 2022 Sri Lakshmi Purverisers, Represented through its Managing Partner, V.Lakshmi, W/o.Late.Veerapathiran, No.1, North Pillaiyar Kovil Street, Narayanapuram, Sivagiri Taluk, Tirunelveli District.

... Petitioner Vs 1.The Managing Director, The Tamil Nadu Industrial Investment Corporation Limited, 692, Anna Salai, Nandanam, Chennai - 600 035.

2.The Branch Manager, The Tamil Nadu Industrial Investment Corporation, 5C/5B Sakunthala Shopping Complex, Vannarpettai, Tirunelveli - 627 003.

... Respondents PRAYER: Writ Petition filed under Article 226 of Constitution of India, to issue a Writ of Mandamus, directing the respondents to return the title documents deposited with them by the petitioner as collateral security for the loan availed by the petitioner within the time frame fixed by this Court.

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For Petitioner : Mr.C.Selvaraj For Respondents : Mr.D.Gandhi Raj Special Government Pleader

ORDER

This Writ Petition has been filed by the petitioner for a direction directing the respondents to return the title documents deposited with them by the petitioner as collateral security for the loan availed by the petitioner.

2.While pending the Writ Petition, the subject property which was deposited as collateral security was brought for auction sale, since the petitioner failed to repay the loan amount. In the auction, the third party had purchased the subject property and the purchaser was also issued a sale certificate. Even knowing these facts, the petitioner submitted a representation to return back the original document of the subject property. Therefore, the representation submitted by the petitioner cannot be considered. Hence, this Writ Petition is devoid of merits and the same is liable to be dismissed.

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3.Accordingly, this Writ Petition is dismissed. There shall be no order as to costs. Consequently, connected Miscellaneous Petitions are closed.

06.12.2024 NCC : Yes / No Index : Yes / No Internet : Yes ps To 1.The Managing Director, The Tamil Nadu Industrial Investment Corporation Limited, 692, Anna Salai, Nandanam, Chennai - 600 035.

2.The Branch Manager, The Tamil Nadu Industrial Investment Corporation, 5C/5B Sakunthala Shopping Complex, Vannarpettai, Tirunelveli - 627 003.

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G.K.ILANTHIRAIYAN, J.

ps Order made in 06.12.2024 4/4