C.SARAVANAN
L. Indira, W/o. V. Loganathan – Appellant
Versus
Registrar of Co-operative Societies – Respondent
ORDER :
This Writ Petition has been filed for a Mandamus, to direct the second to fourth respondents to forthwith return the Jewels of the petitioner numbering of 27 (purportedly weight of 52 sovereigns) placed against the Jewel Loan A/c. No.233135193 dated 19.02.2013 on payment of the balance principal amount along with interest till date.
2. The petitioner was a member of the third respondent bank and had availed Jewel Loan on 19.02.2013 by pledging some of her Jewels. The gross weight of the Jewels pledged by the petitioner was determined by the third respondent bank at 241 Grams consisting of 27 items at the time when the loan was availed by the petitioner. The total loan taken by the petitioner was for a sum of Rs.4,50,000/-. It was payable within one year together with interest at 13.5% per annum.
3. The petitioner however defaulted in repaying the principal amount and the interest. Therefore, the third respondent bank was constrained to issue notice dated 17.02.2014 and called upon the petitioner to pay the outstanding due against Jewel Loan taken by the petitioner on 19.02.2013. On 29.03.2013, the petitioner made part payment of Rs.61,268/-. The aforesaid amount was appropriat
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