HEGH COURT GF JUDICATURE CHHATT!SGARH : B!LASPUR S1N$LE BENCH: Hon’ble §hri SR. Nayak, CJ WRH PETH'MN N9. 4473 QF 1998 PETmOMER Garwah Prasad Agrawai, Sim Shri G.L. ‘ #ai, Fi‘eprietcr - Ri$hi indus‘iries, Ric Bhatat Singh Ward, Bhatapara, District, Raipur (MR) Verws RE$PQD£DENT$ 1. MP. State Financia! Corporation A proprietomwp firm esiabiished under State ‘Financiai Comoraticn Act, 1951, having its Head Office at indore, Distt. Indore (M.P.) 2. Deputy Genera! Manager, MP. Financial Corporation. 9, Central Avenue (West), Choubey Colony, Raipur (MR) Preeent: Mr. Virendra Shrama, Iearned counsel for the petitioner. Mr. Kashif Shakeel, learned counsel for the respondents. GRAL Gt'tDER iPasseu on 3 of wecember 2065) The petitioner is a borrower of certain sum of money from the 15‘ respondent Corporation. The petitioner did not repay the loan amount in terms of the schedule of repayment. That led to the 15‘ respondent initiating action under Section 29 of the Financial Corporation Act and attached the unit. At that stage, an agreement was reached between the petitioner and Corporation on 27.1 .1995 whereby and whereunder, it was agreed that if the petitioner were to pay a sum of Rs. 43,000/—, the possession of the unit would be handed over to the petitioner and he It is the admitted case of the. Corporation that in pursuance of that agreement a sum of Rs. 43,000!- should pay the balance in due course. /, was gaid by the petitianer, but, it is the definite case of the Corporatian thai ihe baiance amcuuni; anti the inieresi accrued iherecn was not paid by the petitioner and that is the rea$0n why the Corporation has refused to return the title-cieeds of the mortgaged iand ta the petitioner. 2. in this writ petition, the petiticnei has scught for a direction to the Corporation to return the tiiie—deeds of the mortgaged property. The action of the Corporation in not returning the titie-deeds of the mortgaged property could not be condemned on the touchstone of‘ Article 14 postuiatee. The pubiic money should not be allowed to be kept in the private hands to the peril of the public interest. The action of the Corporation is juStined as well as legal. No ease is made out for granting reiief sought by the petitioner. The writ petition is, therefore, dismissed, however, with no order a: to were l sd/. l r l Chief Justice \ \ gabb‘t