P.K. Shamsuddin, President - A preliminary objection was raised by the opposite party and he prayed that before taking evidence the preliminary issue may be considered. The case of the complainant is that he approached the second opposite party, the Kerala State Co-operative Bank Limited through Kottayam District Cooperative Bank Ltd. for an Industrial term loan of 7.00 lakhs for a hotel project styled M/s. Vijayam Tourist Complex, Ettumanoor, Kottayam and the second opposite party sanctioned a loan of Rs. 7.00 lakhs through the first opposite party against a total investment of Rs. 13.82 lakhs marking the contribution of the complainants at Rs. 6.82Iakhs. The complainant executed necessary documents. According to the terms of the agreement the loan will be disbursed only in installments in proportion to the actual investment of capital brought in by the promoter namely the complainants at a debt equity ratio 1: 1. The opposite parties were under obligation to release the loan according to the progress in work based on the reports/certificates produced. The complainants after the completion of the work to the tune of Rs. 5.661akhs submitted the request for the release of loan