IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 4TH NOVEMBER 2011 / 13TH KARTHIKA 1933 WP(C).No. 16318 of 2007(P) ---------------------------------------- PETITIONER(S): ------------------------ K.P.SATHYADEVAN, T.C.13/520, DEVI VIHAR, KUNNUKUZHY, THIRUVANANTHAPURAM, NOW RESIDING AT FLAT NO.204, BUILDING NO.2, JUMA AL MAJID, KARAMA, DUBAI, REPRESENTED BY THE POWER OF ATTORNEY HOLDER P.SREEDHARAN, T.C.NO.27/216, DEVI VIHAR, KUNNUKUZHY, THIRUVANANTHAPURAM. BY ADV. SRI.P.A.AHAMMED SRI.THOUFEEK AHAMED RESPONDENT(S): ---------------------------- STATE BANK OF TRAVANCORE, PUTHENCHANTHAI BRANCH, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGER. BY ADV. SRI.R.S.KALKURA,SC THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 04/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.16318/2007 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE RECEIPT NO.1026980002 DATED 9/5/98. P2 COPY OF THE RECEIPT NO.1026980016 DATED 15/7/98. P3 COPY OF THE RECEIPT NO.14/2000 DATED 6/7/2000. P4 COPY OF THE PARTNERSHIP DEED EXECUTED ON 27/9/1997. P5 COPY OF THE JUDGMENT OF THE PRINCIPAL SUB COURT, THIRUVANANTHAPURAM IN O.S.NO.337/2001 DATED 16/12/05. P6 COPY OF THE DECREE OF THE PRINCIPAL SUB COURT, THIRUVANANTHAPURAM IN O.S.NO.337/2001 DATED 16/12/05. P7 COPY OF THE CERTIFICATE ISSUED BY THE RESPONDENT NO.AGM/1/TVM/ADV DATED 22/3/2007. RESPONDENT'S EXHIBITS: R1(A) COPY OF THE LETTER DATED 16/05/2001 ISSUED BY THE RESPONDENT BANK TO THE PETITIONER. R1(B) COPY OF THE LETTER DATED 06/08/2001 ISSUED BY THE FEDERAL BANK, ALWAYS TO THE RESPONDENT BANK. R1(C) COPY OF THE LETTER DATED 16/08/2001 ISSUED TO THE RESPONDENT BANK TO M/S FEDERAL BANK, ALWAYS. R1(D) COPY OF THE LETTER DATED 18/02/2006 BY THE BANK. R1(F) COPY OF THE FCNE DEPOSIT FST 2077 FOR US DOLLAR 4321.36 WITH THE ENDORSEMENT OF THE PETITIONER. /TRUE COPY/ P.S.TO.JUDGE sts S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 16318 of 2007 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 4th day of November, 2011. J U D G M E N T The petitioner deposited a sum of $.9245.42 with the respondent-bank on 9.5.1998. On 15.7.1998, a further sum of $.3152.51 was deposited as fixed deposit with the respondent. Still further, another sum of $. 3220.12 was also deposited with the respondent-bank. While those fixed deposits were with the bank, the respondent obtained Ext.P5 judgment and Ext.P6 decree in O.S.No. 337 of 2001 against the petitioner. The bank sought to adjust the amounts due to the petitioner as per the fixed deposit accounts against the decree debt due to the bank from the petitioner. It is under the above circumstances the petitioner has filed this writ petition seeking the following relief: “To issue a writ or mandamus or other appropriate writ, direction or order directing the respondent to release the amount as per Exts. P1 to P3 to the petitioner and to quash the decision of the respondent as per Ext.P7.” The contention of the petitioner is that the bank does not have any banker's lean in respect of the fixed deposits of the petitioner so as to enable them to adjust the fixed deposits against the decree debt due from the petitioner to the respondent. According to the petitioner, there is no contract between the petitioner and the bank for adjustment of the amount covered by the fixed deposit against the decree debt. The petitioner would contend that fixed deposits are loans in the hands of the bank and the bank cannot adjust the said amount against any other amount. 2. A counter affidavit has been filed by the respondent contending that they are entitled to adjust the fixed deposit W.P(C) No. 16318 of 2007 -: 2 :- amount against the decree debt. 3. I have considered the rival contentions in detail. 4. It is not disputed before me that Ext.P5 judgment and Ext.P6 decree have become final. As such, the decree debt is admittedly due to the bank from the petitioner. That being so, I am not inclined to exercise my discretionary jurisdiction in favour of the petitioner insofar as the petitioner is liable to pay money to the respondent-bank. However, insofar as the money belonging to the petitioner was all along in the hands of the Bank, I am of opinion that the adjustment made by the bank should be as on the date of the decree, viz. 16.12.2005. In other words, the bank is bound to calculate the amounts due under Ext.P6 decree as on 16.12.2005 and calculate the amounts due to the petitioner under the three fixed deposits as on that date and make the adjustment. The respondent cannot postpone the adjustment to any future date or prepone to an earlier date. Accordingly, the respondent is directed to issue a statement of account to the petitioner calculating the amounts due and making an adjustment as directed above as expeditiously as possible, at any rate, within one month from the date of receipt of a copy of this judgment. Sd/- S. Siri Jagan, Judge. Tds/