IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 13TH FEBRUARY 2009 / 24TH MAGHA 1930 WP(C).No. 4820 of 2009(W) ------------------------- PETITIONER(S): --------------- B. SOMASEKHARAN NAIR, MANGALA, MNRA 147, EROOR WEST.P.O, THRIPUNITHURA. BY ADV. SRI.V.K.SUNIL RESPONDENT(S): --------------- 1. THE UCO BANK, REPRESENTED BY ITS BRANCH MANAGER, MATTANCHERRY BRANCH, KOCHI - 682 002. 2. THE AUTHORISED OFFICER, UNDER THE SARFESI ACT, UCO BANK, MATTANCHERY BRANCH. ADV.GEORGE K.VARGHESE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P(C).No.4820 of 2009 ================== Dated this the 13th day of February, 2009 J U D G M E N T The petitioner is a borrower of loan amounts from the 1st respondent bank. The respondents have initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for recovery of the amounts due from the petitioner in repayment of the loan. The petitioner has got a case that the officers of the bank have committed a fraud on the petitioner in so far as they have diverted amounts from the petitioner's account without knowledge or consent of the petitioner. The petitioner is prepared to pay the entire amount due under protest on condition that the bank keeps it under a suspense account pending further investigation into the allegation of fraud made by the petitioner, by the appropriate authorities. The petitioner, therefore, seeks the following reliefs: “I. To call for the records leading to Ext.P1 and P3 and quash the same by issue a writ of certiorari or any other appropriate writ, direction or order of this Honourable Court. II. To issue a writ of mandamus or any other appropriate writ, direction or order of this Honourable Court directing the respondents to examine the complaints made by the petitioner in Ext.P2 objection/ representation with reference to the cash slips, vouchers, demand draft applications, demand draft issue registers, cash books, ledgers and other books of accounts and documents which are relevant with the transactions referred therein and settle the account of the petitioner. III. To issue a writ of mandamus or any other appropriate writ, direction or order of this Honourable court directing the respondents to receive the amount claimed under Ext.P1 to be kept in a separate account to adjust after examining the complaints of the petitioner raised in Ext.P2 and release the title deeds he deposited with the bank to secure the loan account mentioned in Ext.P1 forthwith.” 2 2. The learned Standing Counsel appearing for the bank stoutly opposes the prayers of the petitioner. According to him, no fraud has been committed by the officers of the bank as alleged by the petitioner. 3. I am not inclined to go into the merits of the allegations regarding fraud in so far as that is beyond the scope of this writ petition. Having heard both sides, I dispose of this writ petition with the following directions: The petitioner shall pay the amount demanded by the respondents under protest pending further investigation into the allegations made by the petitioner. On payment of the amount, the respondents shall forthwith release the title deeds of the property of the petitioner deposited as security for the repayment of the loan amount, forthwith. The payment would be subject to the investigation, if any, requested for by the petitioner, by the appropriate authorities and if, ultimately, any amounts are found due to the petitioner, the bank would be liable to refund the same to the petitioner. It would be open to the petitioner to approach the appropriate authorities for an investigation into the allegations of fraud made by petitioner. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 3