IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 31ST MARCH 2009 / 10TH CHAITHRA 1931 WP(C).No. 8665 of 2009(C) ---------------------------------- OA.252/2004 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER: -------------------- V.K.PAREED, AGED 50 YEARS, S/O.KUNJIN PILLAI, VELLAPPILLIL HOUSE, RAYONPURAM, KANJIRAKKAD, M.C.ROAD, PERUMBAVOOR 683 543. BY ADV. SRI.M.RAMESH CHANDER RESPONDENT : ------------------------ ORIENTAL BANK OF COMMERCE, M.G.ROAD, ERNAKULAM, REPRESENTED BY ITS SENIOR MANAGER. ADV. SRI.THOMAS CHAZHUKKARAN FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 31/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 8665/ 2009 APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1: TRUE COPY OF THE PROPOSAL DATED 25/11/205. EXHIBIT P2: TRUE COPY OF THE PROPOSAL DATED 25/1/2006. EXHIBIT P3: TRUE COPY OF THE PROPOSAL BY PETITIONER'S WIFE DATED 25/11/2005. EXHIBIT P4: TRUE COPY OF THE PROPOSAL DATED 25/01/2006. EXHIBIT P5: TRUE COPY OF THE MEMO DATED 31/07/2006 ISSUED BY THE COUNSEL FOR THE RESPONDENT. EXHIBIT P6: TRUE COPY OF THE RECEIPT ISSUED BY THE RESPONDENT. EXHIBIT P7: TRUE COPY OF THE MEMO DATED 28/5/2007 ISSUED BY THE COUNSEL FOR THE RESPONDENT. EXHIBIT P8: TRUE COPY OF THE COMMUNICATION DATED 5/2/2009 ISSUED BY THE RESPONDENT. EXHIBIT P9: TRUE COPY OF THE LETTER DATD 7/2/2009 ISSUED BY THE PETITIONER. EXHIBIT P10: TRUE COPY OF THE NOTICE DATED 12/2/2009 ISSUED BY THE RESPONDENT. /TRUE COPY/ P.A. TO JUDGE scm ANTONY DOMINIC, J. --------------------------- W.P.(C) No. 8665 of 2009 ------------------------------------ Dated this the 31st day of March, 2009 JUDGMENT Petitioner submits that in respect of the liability that is due from him to the respondent bank, O.A No.252/2004 filed by the Bank is pending before the Debt Recovery Tribunal, Ernakulam for releasing Rs.10,13,049/-. During its pendency, he applied for the benefit of One Time Settlement Scheme and the bank agreed to settle the liability by accepting Rs.7,00,000/-. According to the petitioner, when he tendered payment, he was informed that documents deposited by him relating to the property mortgaged can be released only if the liability that is due from M/s. Agro Tech Industries, a proprietary concern of his wife, is also settled. Petitioner submits that he is in no way connected with the aforesaid liability. Therefore, according to him, liability of his wife cannot stand in the way of the bank accepting payment and releasing the documents of the properties mortgaged by him. 2. Counsel for the respondent bank submits that W.P.(C) No. 8665/2009 2 documents are produced before the Debts Recovery Tribunal and that proceeding are still pending. 3. Irrespective of pendency of the proceedings before the DRT, the bank has not disputed that they accepted the offer of the petitioner to settle the liability by accepting Rs.7,00,000/-. They have also no case that the petitioner is in anyway liable for the dues of M/s. Agro Tech Industries, a proprietary concern of his wife. If that be so, on the petitioner paying Rs.7,00,000/- agreed between the parties, bank is bound to accept the same and release the documents in respect of the property mortgaged by the petitioner. Therefore, the writ petition is disposed of with the following directions; That within ten days from today, the petitioner shall pay an amount of Rs.7,00,000/- to the respondent bank and if payment is made as above, such payment will be accepted and respondent bank shall, without any further delay, release the title deeds of the properties mortgaged by the petitioner also. It W.P.(C) No. 8665/2009 3 is clarified that the liability, if any, due from the petitioner's wife, cannot stand in the way of the bank accepting payment as above or releasing the documents of title deposited by the petitioner. ANTONY DOMINIC, JUDGE scm