1 BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 06.09.2011 CORAM: THE HONOURABLE Mr.JUSTICE P.JYOTHIMANI and THE HONOURABLE Mr.JUSTICE M.M.SUNDRESH W.P.(MD)No.8496 of 2011 and M.P.(MD)No.1 of 2011 1.M/s.Jothi Kerosene Agency, Rep.by its Proprietor, S.Muthukasim, Presently residing at No.94, Padmavathy Nagar Extension, 2nd streetm Selaiyur, Tambaram, Chennai 600 073. 2.S.Muthukasim 3.S.Sheik Dawood ... Petitioners Vs. 1.The Chief General Manager, State Bank of India, LHO, College Road, Chennai 600 006. 2.The Chief Manager, State Bank of India, Karur Main Branch, Karur 639 001. 3.The Authorised Officer, State Bank of India, Karur Main Branch, Karur 639 001. 4.The District Collector, Karur, Karur District. 5.The Thazildar, Karur, Karur District. ... Respondents Prayer: Petition filed under Article 226 of the Constitution of India praying for the issuance of a Writ of Mandamus, forbearing the respondents from proceeding further pursuant to the order passed by the 4th respondent in his proceeding RC.C1/6110/ 2007 dated 13.03.2007 in respect of property of the petitioners bearing Door No.108, 108/1, https://hcservices.ecourts.gov.in/hcservices/ 2 108/2, LGB Nagar, East Street, Karur 639 002, comprised in S.F.No.658/3, 658/4 site No.11, Lakshmi Narayana Samuthiram Village, Karur Taluk and District measuring 3248 sq.ft.as the petitioners are ready to settle the loan amount after waiver of interest as done in other cases by the 1st to 3rd respondents. For Petitioner : Mr.Saravanakumar For Respondents : Mr.N.Murugesan for R2 Mr.R.Karthikeyan, AGP for R4 and R5 O R D E R (Order of the Court was made by P.JYOTHIMANI,J.) The petitioners are the intending sellers of the property, who are the original borrowers, in respect of which proceeding has been initiated by the respondents/Bank under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002. 2. The learned counsel appearing for the petitioners submits that the petitioners are ready to deposit part of the loan amount of Rs.15 lakhs with the Bank immediately and in respect of which, he is already having a demand draft for the said amount. The claim of the respondents/Bank appears to be around Rs.33,68,188/-. The learned counsel for the petitioners submits that the balance amount will be paid within a period of two weeks. 3. Hence, the learned counsel for the petitioners is permitted to deposit Rs.15 lakhs immediately, to the respondents/Bank and the petitioners are directed to pay the balance amount as claimed by the respondents/Bank within a period of two weeks from the date of receipt of the copy of the order. On payment of the balance amount, the respondents/Bank shall release the document so as to enable the petitioners to proceed to sell the property. https://hcservices.ecourts.gov.in/hcservices/ 3 4. With the above direction, the Writ petition stands closed. No costs. Consequently, connected M.P.is closed. Sd/- Assistant Registrar (CO) /True Copy/ Sub Assistant Registrar To 1.The Chief General Manager, State Bank of India, LHO, College Road, Chennai 600 006. 2.The Chief Manager, State Bank of India, Karur Main Branch, Karur 639 001. 3.The Authorised Officer, State Bank of India, Karur Main Branch, Karur 639 001. 4.The District Collector, Karur, Karur District. 5.The Thazildar, Karur, Karur District. +1 CC to Mr.N.Murugesan, Advocate (SR.No.30148) +1 CC to Mr.K.Raja, Advocate (SR.No.30083) W.P.(MD)No.8496 of 2011 06.09.2011 nbj NSV/9.9.11/3P/8C https://hcservices.ecourts.gov.in/hcservices/