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2021 Supreme(Ker) 281

N.NAGARESH
A. V. Prasanth S/o K. Appukuttan Nair – Appellant
Versus
Syndicate Bank Rep. by Senior Manager, Manipal – Respondent


Advocates:
Advocate Appeared:
For the Petitioner: Sri. T.M. Abdul Latheef.
For the Respondents: Sri. R.S. Kalkura, Sri. K. Ramakumar, Sri. T. Ramprasad Unni, Sri. S.M. Prasanth, Sri. G. Renjith, Sri. T.H. Aravind, Smt. R.S. Aswini Sankar.

JUDGMENT :

N. NAGARESH, J.

1. The petitioner, who is running a proprietary business in construction, hardware and paint materials, has filed this writ petition seeking to command respondents 1 to 3 to immediately release loan papers, security title deeds and other documents obtained towards the loan covered by Ext.P3 settlement. Incidental reliefs are also sought for.

2. The petitioner states that the 2nd respondent-Manager, Syndicate Bank, Sasthamangalam Branch provided a term loan facility of Rs. 90 lakhs to the petitioner on 30.10.2006. SARFAESI proceedings were initiated by the Bank against the petitioner. The petitioner filed WP (C) No. 28398/2011 when Section 14 was invoked. This Court granted 10 EMIs to discharge the liability of about Rs. 100 lakhs. Though the petitioner made substantial remittances, on making a default, the Bank recalled the One Time Settlement facility on 18.03.2017.

3. The Bank then filed O.A. No. 440/2017 in the DRT, Ernakulam for realisation of dues. The petitioner would submit that during the interregnum, he had brought down the outstanding to Rs. 25 lakhs even as per the bank statement. But, the Bank brought up the amount to Rs. 55 lakhs soon. By 18.03.2

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