JUDGMENT :

The facts of this case (to the extent they are required to be considered for the adjudication of the only point now arising) are brief -the 1st petitioner -PNB Vesper Life Science (P) Ltd., is a company incorporated under the Companies Act, 1956. The 2nd petitioner is stated to be a former Director of the 1st petitioner. An item of property belonging to her has been mortgaged to secure the repayment of a loan availed by the 1st petitioner from the erstwhile Thrissur District Co-operative Bank, which has now merged with the 1st respondent -the Kerala State Co-operative Bank Ltd. (‘the Bank’). On 30.3.2023, the 1st petitioner remitted an amount of Rs. 2,46,95,424/-to the 2nd respondent Bank in full and final settlement of its liabilities. [The amount to be paid by the 1st petitioner to settle the liability under a one-time settlement was intimated to the 1st petitioner through Ext P.20 letter dated 23.03.2023 and the amount was to be paid on or before 31.3.2023]. On account of the settlement of liability, as above, the only relief in the writ petition that survives for consideration is relief No. (vi) which reads as under:-

“(vi) Declare that when the loan, in respect of PNB