IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 5TH JANUARY 2009 / 15TH POUSHA 1930 WP(C).No. 37199 of 2008(C) ----------------------------------- PETITIONERS : -------------------- 1. M.K. SAROJINI, W/O. LATE SUKUMARAN, SAROJINI NIVAS, CHEMMANATHUKARA.P.O, VAIKOM, KOTTAYAM DISTRICT. 2. ANIL KUMAR.K.R, KALPAKASSERRIL HOUSE, CHEMMANATHUKARA.P.O, VAIKOM, KOTTAYAM DISTRICT. BY ADV. SRI.N.N.SUGUNAPALAN (SR.) SRI.S.SUJIN RESPONDENTS : ------------------------- 1. THE BRANCH MANAGER, STATE BANK OF TRAVANCORE, VAIKOM BRANCH, VAIKOM, KOTTAYAM DISTRICT. 2. THE ZONAL OFFICER, STATE BANK OF TRAVANCORE, ZONAL OFFICE, KOTTAYAM. 3. JAYACHANDRAN, KANNUMUTTATHU HOUSE, KIZHAKKENADA.P.O, VAIKOM, KOTTAYAM DISTRICT. ADV. SRI.M.PATHROSE MATTHAI (SR.) SRI.SAJI VARGHESE, SC,SBT - R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/01/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. --------------------------- W.P.(C) No. 37199 of 2008 ------------------------------------ Dated this the 5th day of January, 2009 JUDGMENT Prayer sought in this writ petition is to direct respondents 1 and 2 to return the documents received by them for advancing loan to the 3rd respondent. Admittedly, in support of loan availed of by the 3rd respondent, the property belonging to the first petitioner was offered as security. It is stated that default was committed by the borrower and finally the matter was settled as per Exhibit P1 agreement. In terms of Exhibit P1, Rs.50,000/- will be paid on 30/10/2008 and balance before 31/10/2008. Bank submits that as against the agreement, balance of the agreed amount was paid by the first petitioner only on 12/12/2008. Therefore, it is contended that the petitioner having not paid as agreed in Exhibit P1, is not eligible to settle the liability for the amount agreed in Exhibit P1. According to the bank, the petitioners should pay the full amount. It is stated that if an additional amount of Rs.35,000/- is paid, then the first respondent can return the documents that the 1st petitioner deposited at the time when the 3rd respondent W.P.(C) No. 37199/2008 2 availed of the loan. Fact remains that in Exhibit P1, the petitioners had agreed to liquidate the liability before 31/10/2008. It is also true that the payment has not been made and the balance payment was made only on 12/12/2008. Though default has been committed, still having regard to the fact that the bank has accepted the payment in terms of Exhibit P1 on 12/12/2008 without any reservation, I feel that the ends of justice require that on the petitioner paying interest for belated payment for the period from 31/10/2008 to 12/12/2008, accepting the same, the bank should release the title deeds deposited by the first petitioner. Therefore, it is directed that on the petitioners paying interest at contractual rate for the period from 31/10/2008 to 12/12/2008, the bank shall accept the same in full settlement of the liability and thereupon shall release the documents submitted by the petitioner . ANTONY DOMINIC, JUDGE scm