K.Chandran v. The Banking Ombudsman, Rep By Its Authorized Officer,
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 07.11.2025
CORAM:
THE HON'BLE MS.JUSTICE P.T.ASHA W.P.(MD).No.30029 of 2025 and W.M.P(MD)No.23217 of 2025
1. K.Chandran
2. Kazhuvayee @ C.Shanthi ... Petitioners Vs.
1. The Banking Ombudsman, Rep by its Authorized Officer, C/o.Reserve Bank of India, Fort Glacis, Chennai-600 001.
2. The Manager, M/s.Reliance Asset Reconstruction Company Ltd., 6th Floor, Khivraj Complex II, 477-482, Anna Salai, Chennai-600 035.
3. The Manager, M/s.Magma Rarc 031 Trust, 11th Floor, North Side, R-Tech Park, Western Highway, Goregoan (East), Mumbai-400063.
... Respondents 1/4
Prayer: Writ Petition filed under Article 226 of the Constitution of India, praying this Court to issue a Writ of Mandamus directing the 1st respondent to take necessary and appropriate action against the 2nd respondent for ensuring immediate return of the original title deeds (11 nos) deposited by petitioners as due security for the loan by them and also for payment of the compensation amount computed at rate of Rs.5,000/- per day till the date of return of the documents as per Norms RBI/2023-24/60 DoR.MCS. REC.38/001.001/2023-24 dated 13.09.2023, based on the petitioners representation dated 12.09.2025 within the time stipulated by this Honble court and pass such further or other orders as this Honble Court may deem fit and proper in the circumstances of the case and thus render justice.
For Petitioners : Mr.M.Vivek Kumar For R2 : Mr.C.Jawahar Ravindran For R1 & R3 : No Appearance
ORDER
The above writ petition has been filed for the following relief:- "Writ Petition filed under Article 226 of the Constitution of India, praying this Court to issue a Writ of Mandamus directing the 1st respondent to take necessary and appropriate action against the 2nd respondent for ensuring immediate return of the original title deeds (11 nos) deposited by petitioners as due security for the loan by them and also for payment of the compensation amount computed at rate of Rs.5,000/- per day till the date of return of the documents as per Norms RBI/2023-24/60 DoR.MCS. REC. 38/001.001/2023-24 dated 13.09.2023, based on the petitioners 2/4
representation dated 12.09.2025 within the time stipulated by this Honble court and pass such further or other orders as this Honble Court may deem fit and proper in the circumstances of the case and thus render justice."
2. Heard the learned counsel on either side.
3. When the matter is taken up for hearing today, it is informed that the parties have entered into a settlement and the bank has issued a letter to the learned counsel appearing for the petitioner dated 04.11.2025, wherein it has been stated that the original title documents have been handed over on 28.10.2025 itself. Further, it is informed that cancellation of the memorandum of deposit of title deed would be done on 12.11.2025.
4. Recording the same, the writ petition stands disposed of. No costs. Consequently, connected miscellaneous petition is closed. 07.11.2025 NCC :yes/No Index :yes/No Internet:yes/No rgm 3/4
P.T.ASHA, J.
rgm To
1. The Banking Ombudsman, Rep by its Authorized Officer, C/o.Reserve Bank of India, Fort Glacis, Chennai-600 001.
2. The Manager, M/s.Reliance Asset Reconstruction Company Ltd., 6th Floor, Khivraj Complex II, 477-482, Anna Salai, Chennai-600 035.
3. The Manager, M/s.Magma Rarc 031 Trust, 11th Floor, North Side, R-Tech Park, Western Highway, Goregoan (East), Mumbai-400063.
W.P.(MD).No.30029 of 2025 and W.M.P(MD)No.23217 of 2025 07.11.2025 4/4