IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) PRESENT THE HON'BLE MR JUSTICE GHULAM MOHAMMED and THE HON'BLE MR JUSTICE NOOTY RAMAMOHANA RAO WRIT PETITION NO : 25638 OF 2008 Between: Dr. Pavuluri Sivaramaiah, S/o Ramaiah aged 66 years ..... PETITIONER AND 1 Union Bank of India, Pasumarru Branch, Guntur District and one another .....RESPONDENT(S) ORDER: (Per Sri Justice GHULAM MOHAMMED) This Writ Petition has been filed by the petitioner to declare the action of the respondents in not willing to release his title deeds of the secured assets in spite of his ready and willingness to discharge the entire loan due and in proceeding to take over the possession of the secured assets invoking the provisions of the Securitisation Act (Act 54 of 2002) is contrary to law, illegal and arbitrary. The controversy is in narrow compass viz., the petitioner has obtained the certificate from the Union Bank of India to the effect that they have received an amount of Rs. 50,54,638/- from Dr. P. Sivaramaiah of Chilakaluripet for the credit of Loan Account bearing No. 656/62001 and 656/62002 and by virtue of the same, they have regulated the account in respect of these two accounts. It is stated that the order passed by this Court on 27.8.2009 has been complied with and the petitioner had re-deposited a sum of Rs. 42,00,000/- to the loan account. Be that as it may, in the counter, it is stated that the respondent-Bank filed O.A, along with an application for attachment of the property. But the petitioner-loanee herein has given an undertaking they he shall not alienate, encumber or create any third party interest over the property. In view of the above undertaking, we once again reiterate that the petitioner shall not encumber or alienate or create any third party interest over the property till the disposal of the O.A, which is pending before the Debt Recovery Tribunal. But however, the first respondent-Bank is directed to release the title deeds in respect of the secured assets in question. Accordingly, the Writ Petition is disposed of. There shall be no order as to costs. _____________________________ GHULAM MOHAMMED, J ______________________________ NOOTY RAMAMOHANA RAO, J Dt. 17.09.2009 KA ..... REGISTRAR // TRUE COPY // SECTION OFFICER To 1. 2 CD copies