SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

2018 Supreme(Mad) 4412

V.K.TAHILRAMANI, M.DURAISWAMY
C. R. Ramachary – Appellant
Versus
Indian Overseas Bank, Rep. by its Chief Manager, Head Office, Chennai – Respondent


Advocates Appeared:
For the Petitioners:M. Raja Sekhar, Advocate.
For the Respondents:M. Senthilkumar, K.S. Karthik Raja, Advocates.

JUDGMENT :

V.K. Tahilramani, J.

1. Heard the learned counsel for the petitioners and the learned counsel for the respondent bank.

2. The admitted facts are that the petitioners had obtained three separate loans from the respondent bank. Two of the loan accounts were settled, however, the third loan account was not settled. When the first petitioner approached the respondent bank to release the documents in relation to the properties mortgaged in relation to the loans which were already settled, the respondent bank, by letter dated 4.8.2017, refused to return the documents. The respondent bank refused to return the documents on the ground that the first petitioner had obtained another loan as Sole Proprietor of M/s.Babu Dresses (second petitioner) from the respondent bank and he had not repaid the said loan amount and committed default. This loan account was declared as Non Performing Asset (NPA) and, hence, the respondent bank had filed a suit for recovery before the Debts Recovery Tribunal being O.A.No.434 of 2017. In the letter dated 4.8.2017, it is further stated that since the first petitioner was liable to pay substantial amount to the bank, the bank has exercised its general lie

Click Here to Read the rest of this document
1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top