IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 14TH JUNE 2011 / 24TH JYAISHTA 1933 WP(C).No. 13678 of 2011(H) --------------------------------------- PETITIONER(S): ----------------------- JOBY GEORGE, AGED 34 YEARS, S/O. GEORGE JOSEPH, KAKKANATTU HOUSE, VANNAPPURAM, THODUPUZHA. BY ADV. SRI.A.P.SUBHASH RESPONDENT(S): ------------------------- STATE BANK OF TRAVANCORE, MULLARINGAD BRANCH, VANNAPPURAM P.O., IDUKKI DISTRICT-685 582. REPRESENTED BY ITS MANAGER. BY ADV. SRI.SANTHOSH MATHEW, SC, SRI.SATHISH NINAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/06/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 13678 of 2011(H) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DATED 04/03/2011, THREATENING, PRIOR TO ATTACHMENT/PROSECUTION TO BE INITIATED AGAINST THE PETITIONER. EXT.P2: COPY OF THE GOLD PLEDGING TOKEN HAVING NO.AGL-2115 DATED 30/03/2011. EXT.P3: COPY OF THE REPRESENTATION DATED 06/05/2011 FOR RELEASE OF THE GOLD ORNAMENTS. EXT.P4: COPY OF THE REPRESENTATION DATED 06/05/2011 SUBMITTED BEFORE THE RESPONDENT BANK FOR INCLUSION OF BUSINESS LOAN ACCOUNT IN ONE TIME SETTLEMENT SCHEME. EXT.P5: COPY OF THE REPRESENTATION DATED 16/05/2011 SUBMITTED BY ONE MR.ARUN BABU BROTHER IN LAW OF THE PETITIONER. RESPONDENTS ANNEXURES: ANNEXURE 1: COPY OF THE LOAN AGREEMENT DATED 30/03/2011 ENTERED INTO BETWEEN THE PETITIONER AND THE BANK. //TRUE COPY// P.A. TO JUDGE rs P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P (C) No . 13678 of 2011 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 14th June , 2011 JUDGMENT The petitioner has approached this Court with the following prayers : i. issue a writ of mandamus or any other appropriate writ, order or direction, directing the respondent bank to close Ext. P2 gold loan account and release gold ornaments having a weight of 160.400 grams after receiving balance outstanding thereon forthwith. ii. issue a writ of mandamus or any other appropriate writ, order or direction, directing the respondent not to initiate any further proceedings or coercive steps including revenue recovery pursuant to Ext. P1 notice issued by respondent bank. iii. issue any other writ or direction directing the respondent bank to settled the Ext. P1 business loan account of the petitioner in compliance of Ext. P4 representation. iv. grant such other reliefs that this Hon'ble Court may deem fit and proper in the circumstances of the case. 2. The respondent Bank has filed a statement pointing out that the prayer of the petitioner to release the gold ornaments, stating that, the entire amount due under the gold loan is satisfied, is thoroughly wrong and misconceived; in so far as the petitioner has availed various W.P. (C) No. 13678 of 2011 : 2 : loans and also stood as a guarantor to another loan. As per Annexure - I agreement dated 30.02.2011, the petitioner has already agreed to have the gold ornaments pledged with the Bank as security for all the existing and future loans. 3. The learned counsel for the petitioner submits that, besides Exts. P3 and P4 representations, the petitioner has filed another representation before the respondents seeking for appropriate relief, stating that, the entire liability will be wiped off within the shortest possible time and that the petitioner would pursue the remedy before the respondent Bank. 4. In the said circumstances, interference is declined and the Writ Petition is dismissed, reserving the rights and liberties of the petitioner to pursue the remedy before the Bank. P. R. RAMACHANDRA MENON, JUDGE kmd /True copy/ P.A. to Judge