IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 2ND JUNE 2009 / 12TH JYAISHTA 1931 WP(C).No. 35168 of 2008(J) -------------------------- PETITIONER(S): --------------- M/S. P.P. SANKUNNY SONS, REPRESENTED BY ITS MANAGING PARTNER V. LALSON, HOSPITAL ROAD, OLD BUS STAND, TELLICHERY, KANNUR DISTRICT - 670 101. BY ADV. MR. K.V.SOHAN MS. SREEJA SOHAN.K. RESPONDENT(S): --------------- 1. THE PUNJAB NATIONAL BANK, TELLICHERY BRANCH, REPRESENTED BY ITS MANAGER, LOGANS ROAD, TELLICHERY, KANNUR DISTRICT - 670 101. 2. THE AUTHORISED OFFICER, PUNJAB NATIONAL BANK, CIRCLE OFFICE, SHATHABDI BHAVAN, MINI BY PASS ROAD, GOVINDAPURAM, KOZHIKODE - 673 016. BY ADV. MR. C.AJITH KUMAR STANDING COUNSEL FOR PUNJAB NATIONAL BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 35168 of 2008 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 2nd day of June, 2009 JUDGMENT The petitioner has approached this Court challenging the coercive steps taken by the respondent Bank invoking the relevant provisions under the SARFAESI Act, when the loan extended to the petitioner/firm turned to be declared as 'NPA', on account of default committed by the petitioner. 2. Subsequent to filing of the Writ Petition, it is pointed out from the part of the petitioner that, the entire liability has been wiped off and the petitioner has filed I.A. 6209 of 2009 with supporting affidavit, stating the factual position as above simultaneously praying for a direction to release the title deeds. 3. Heard the learned counsel for the respondent as well. The factum of discharge of the liability is conceded from the part of the respondent Bank. However, with regard to the release of the title deeds to the petitioner, it is pointed out that, one of the partners has submitted a letter instructing the Bank, not to hand over the title deeds to the petitioner herein, in view of some disputes stated as pending among the partners. 4. Taking note of the scope of the present Writ Petition, this Court finds it not at all necessary to keep the above matter pending. WP (C) No. 35168 of 2009 : 2 : Since the liability of the petitioner has been admittedly satisfied, the respondents are bound to release the title deeds and other security documents deposited at the time of availing the loan creating charges thereon. 5. In view of the facts and circumstances, the respondent Bank is directed to release the title deeds and other security documents to the Managing Director of the petitioner firm, if the concerned partners who have raised any objection in this regard fail to produce appropriate orders of competent court of law enabling to hold back the same within a reasonable time to be stipulated by the Bank. In any view of the matter, this shall be done subject to the above observations, as expeditiously as possible, at any rate, within a period of 30 days from the date of receipt of a copy of this judgment. The Writ Petition is closed accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd