SANJIB BANERJEE
Devi Ispat Limited – Appellant
Versus
Central Bank of India – Respondent
SANJIB BANERJEE, J
(1) The petitioners question the propriety of the respondent nationalised bank withholding documents of title that the petitioners had furnished for obtaining credit facilities, despite the petitioners having squared up and closed the accounts at the banks behest.
(2) Between September 15, 2008 and April 24, 2009 the bank advised the petitioner company to shift its borrowings to some other bank. The first letter in such regard that the petitioners rely on is one dated March 24, 2009 where the bank complained to the petitioner company that despite its assurance in August, 2008, the companys accounts had not been shifted from the bank. On April 24, 2009 the bank called upon the company to remove its accounts. The insistence on the banks part appears plain from the letter:
"We had, on several occasions in the past, advised you to arrange for the shifting of your borrowal A/cs to other bank. However it appears that you have not taken any steps in this regard so far. Our higher authorities have now instructed us to have discussion with Sri Nirmal Kumar Mandhani, Director of your company about the shifting of the borrowal A/cs and other issues relating to the
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