IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 9TH MARCH 2010 / 18TH PHALGUNA 1931 WP(C).No. 5710 of 2010(K) ------------------------- PETITIONERS: --------------- 1. M/S.PALANATTIL CONSTRUCTION COMPANY, REVIEW BUILDING, KURISADI JUNCTION, NALANCHIRA P.O.,THIRUVANANTHAPRUAM, REPRESENTED BY ITS MANAING PARTNER. 2. RAJAN M.KURIAN,S/O.KURIAN, RES. AT MAMPILAVIL HOUSE, PONGAMOODU, MEDICAL COLLEGE P.O., THIRUVANANTHAPURAM. 3. KURIAN P.PAUL, PALANATTIL HOUSE, KUNNACKAL P.O., MUVATTUPUZHA. 4. BABY SIMON, MALYIL HOUSE, KARUVALLOOR. P.O., PUNALUR. 5. P.PAULOSE, REVIEW BUILDING, KURISADI JUNCTION, NALANCHIRA P.O.,THIRUVNANTHAPURAM. 6. SMT.PAGGY SUSAN GEORGE,NO.37, ROSE NAGAR,NALANCHIRA P.O., THIRUVNANTHAPURAM. 7. SAJU GEORGE, NO.37,ROSE NAGAR, NALANCHIRA P.O., THIRUVNANTHAPURAM. 8. SMT.BENJA PAUL, REVIEW BUILDING, KURISADI JUNCTION, NALANCHIRA P.O. THIRUVANANTHAPURAM. BY ADV. SRI.M.RAMASWAMY PILLAI SRI.P.M.JOSEPH WP(C).No. 5710 of 2010 2 RESPONDENTS: --------------- 1. THE FEDERAL BANK LTD.,REGD.OFFICE, ALUVA,REPRESENTED BY ITS CHAIRMAN. 2. THE REGIONAL MANAGER,FEDERAL BANK LTD., RAIBAN SHOPPING COMPLEX, WEST OF MEDICAL COLLEGE JUNCTION, ALAPPUZHA. 3. THE AUTHORISED OFFICER, FEDERAL BANK LTD., REGIONAL OFFICE, RAIBAN SHOPPING COMPLEX, WEST OF MEDICAL COLLEGE JUNCTION, ALAPPUZHA. 4. THE FEDERAL BANK LTD., KAYAMKULAM BRANCH, REPRESENTED BY ITS BRANCH MANAGER. BY ADV. SRI.MOHAN JACOB GEORGE,SC THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 09/03/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX PETITIONER'S EXHIBITS WP(C).No. 5710 of 2010 3 P1:- TRUE COPY OF THE VALUATION LETTER DATED 8/10/02 SUBMITTED BEFORE THE BANK. P2:- TRUE COPY OF THE LETTER DATED 15/12/05 ISSUED BY THE 4TH RESPONDENT P3:- TRUE COPY OF THE LETTER DATED 4/1/06 ISSUED BY THE RESPONDENT BANK P4:- TRUE COPY OF THE LETTER DATED 7/2/06 SUBMITTED BY THE PETITIONER P5:- TRUE COPY OF THE LETTER DATED 16/1/07 ISSUED BY THE RESPONDENT BANK. P6:- TRUE COPY OF THE NOTICE DATED 16/4/07 ISSUED BY BANK. P7:- TRUE COPY OF THE NOTICE DATED 9/10/07. P8:- TRUE COPY OF THE LETTER DATED 23/1/08 ISSUED BY THE 1ST PETITIONER BEFORE THE BANK. P9:- TRUE COPY OF THE NOTICE DATED 25/2/08 ISSUED UNDER RULE 8 OF ENFORCEMENT RULES. P10:-TRUE COPY OF THE PUBLICATION APPEARED IN THE KERALA KAUMUDI P11:-TRUE COPY OF THE JUDGMENT DATED 17/3/08 IN WP(C) 8386/08. P12:-TRUE COPY OF THE RECEIPT DATED 31/3/08 EVIDENCING REMITTANCE OF RS.20 LAKHS P13:-TRUE COPY OF THE LETTER DATED 31/3/08 SUBMITTED BY THE PETITIONER REQUESTING OTS. P14:-TRUE COPY OF THE LETTER DATED 12/4/08 ISSUED BY THE RESPONDENT BANK P15:-TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED BY THE BANK. P16:- TRUE COPY OF THE ORDER DATED 3/7/08 IN IA 7023/08 IN WP(C) 8386/08 OF THIS HONOURABLE COURT. P17:-TRUE COPY OF THE NOTICE DATED 16/1/09 ISSUED BY THE 3RD RESPONDENT P18:-TRUE COPY OF THE JUDGMENT DATED 26/5/09 IN WP(C) 5784/09 OF THIS HONOURABLE COURT P19:-TRUE COPY OF THE NOTICE DATED 13/1/10 P20:- TRUE COPY OF THE STATEMENT ISSUED BY THE BANK //TRUE COPY// PA TO JUDGE. P.R. RAMACHANDRA MENON, J. ..................................................................... WP (C) NO. 5710 OF 2010 ............................................... Dated this the 9th day of March, 2010 J U D G M E N T The petitioners have approached this Court challenging the steps taken by the respondent Bank for realization of the amounts stated as due under three different loans, invoking the machinery under the SARFAESI Act. 2. The respondents have filed a statement pointing out that the amount due from the petitioners has now been satisfied and the loan accounts have been closed. The learned counsel for the petitioner submits that, according to the petitioners some excess remittance has been made, which however is vehemently opposed from the part of the respondents stating that the respondents are also very much entitled to get the cost as well. 3. Learned counsel for the petitioners submits that the petitioners having fully satisfied the dues, might be given WP (C) NO. 5710 OF 2010 2 back title deeds. The learned counsel for the respondent Bank submits that necessary instructions would be given to the Bank for the returning of the title deeds forthwith and the respondent Bank does not have any objection in this regard. 4. In the above facts&circumstances, the satisfaction of the entire liability is recorded and respondent Bank is directed to return title deeds of the petitioners forthwith, at any rate within 3 days. The petitioners or the party authorised or the power holder in this regard is free to approach the Bank for return of the title deeds and on giving necessary endorsement in this regard, the title deeds shall be returned accordingly, without any delay. The writ petition is disposed of as above. Sd/- P.R. RAMACHANDRA MENON, JUDGE. //True copy// PA to Judge rkc