The court emphasized that where a bank has fulfilled its obligation by settling dues regarding pledged securities, it is entitled to recover the associated maturity proceeds from relevant authorities.

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 03-03-2026 CORAM THE HON'BLE MR JUSTICE M.DHANDAPANI WP No. 388 of 2024 and W.M.P.No.434 of 2024 Indian Bank Patchur Branch, 1/74 Main Road, Kuppam Road, Near Mariyamman Temple, Tirupattur District, Rep. By Its Branch Manager ..Petitioner(s)

Vs

1. The Superintendent Of Post Offices, Office of the Superintendent of Post Offices, Department of Posts, Tirupattur Division, Tirupattur

2. The Post Master Alangayam Post Office, Gandhi Road Opp. Police Station, Alangayam Vellore 635 701

3. M.Mohan S/o. Marimuthu, No. 30 Thendral Nagar, Bye Pass Road, New Town, Vaniyambadi ..Respondent(s)

Prayer: Writ Petition filed under Article 226 of Constitution of India for issuance of a Writ of Certiorarified Mandamus for calling for the records of the

1^st respondent in its communication No. SB/ KVP- NSC/ dlgs Tirupattur- 635 601 dated 25.09.2023 and quash the same and consequently direct the respondents 1 and 2 to pay the maturity amounts of the NSC certificates morefully described in the annexure to the Writ Petition to the petitioner -Bank For Petitioner(s): Mr.T.Sundar Rajan For Respondent(s): Mr. C. Samivel, Senior Panel Counsel for R1 & R2 No appearance - R3

ORDER

This petition has been filed to call for the records of the 1^st respondent in its communication No. SB/ KVP- NSC/ dlgs Tirupattur- 635 601 dated 25.09.2023 and quash the same and consequently direct the respondents 1 and 2 to pay the maturity amounts of the NSC certificates morefully described in the annexure to the Writ Petition to the petitioner -Bank.

2. The brief facts of the case leading to the filing of the Writ Petition are as follows:-

2.1. The 3^rd respondent, who was the staff of Petitioner-Bank, availed loan from the petitioner-Bank by pledging the National Savings Certificate Bonds and thereafter retired on 31.05.2014 and closed the loan. The original National Savings Certificate Bonds were not traceable by the petitioner and the 3^rd respondent without cooperating with the petitioner Bank to obtain duplicate copies of the National Savings Certificate Bonds filed a Consumer Complaint in C.C.No.4 of 2017 before the District Consumer Disputes Redressal Forum, Vellore. The said authority allowed the complaint and directed the petitioner-bank to return the original National Savings Certificates or the Duplicate Savings Certificates within a period of one month with interest at the rate of 12% from the date of maturity on the maturity value from 26.03.2016 to till date of realisation and if the Bank fails to return the original or duplicate certificates, then, further, directed to pay the maturity value of Rs.1,60,100/- together with interest at 12% from 26.03.2016 to till date of realisation and also directed the Bank to pay a sum of Rs.30,000/- towards mental agony and a sum of Rs.5000/- towards costs within a period of one month from the date of order failing which it would carry interest at 12% per annum.

2.2 Though the petitioner, by way of a letter dated 26.06.2019 requested the 3^rd respondent to co-operate with them to obtain the duplicate copies, the 3^rd respondent failed to do so. The petitioner herein preferred an Appeal in F.A.No.275 of 2019 before the State Consumer Disputes Redressal Commission as against the order of the District Consumer Disputes Redressal Forum, Vellore and the same was dismissed on 27.01.2023. The petitioner- bank sent a request letter dated 08.06.2023 to the 2^nd respondent to provide duplicate copies of the National Savings Certificate Bonds. The 1^st respondent sent a reply dated 21.06.2023 indicating that as per their records, the National Savings Certificates were not pledged to any authority. In the meanwhile, the 3^rd respondent filed E.A.No.8 of