S.V.GANGAPURWALA, MADHAV J.JAMDAR
F. A. Construction – Appellant
Versus
Union Bank of India (earlier known as Andhra Bank) – Respondent
JUDGEMENT :
S.V. Gangapurwala, J.
1. Rule.
Rule made returnable forthwith.
By consent of parties, Writ Petition is heard finally.
2. The petitioner seeks directions against the respondent bank to release the mortgage documents deposited in respect of the loan availed by the petitioner from Andhra Bank on the ground that the loan has been fully repaid.
3. The petitioner claims to have mortgaged the assets with Andhra Bank, Bandra West Branch as a security for the loan availed by it under the Stand-up India Scheme from respondent bank for an amount of Rs.98,00,000/- (Rupees Ninety Eight Lakhs Only). The petitioner had created mortgage by deposit of title deeds and Overdraft (OD) account was created for mortgage loan having OD Account No.113930100012303. It is the case of the petitioner that the petitioner repaid the outstanding loan amount towards full and final settlement. As the repayment of the loan was made, the petitioner addressed a letter dated August 29, 2020 for release of the mortgage documents of the property owned by M/s.Nircon Construction. The same was refused on the ground that the bank has a general lien and that the petitioner and their associate concerns are having accoun
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