Petitioner has filed the above Original Petition for a direction to the respondent to release the documents after allowing the petitioner to deposit the entire amounts claimed by the respondent Bank and permit him to re-agitate O.A.557 of 2011 in which an ex parte Award was passed. Petitioner has also filed Exts.P2 and P3 applications to set aside the ex parte Award as also to get the documents released by furnishing bank guarantee for the entire amounts. Exts.P2 and P3 are pending before the Debt Recovery Tribunal. On Ext.P4; Bank filed a counter affidavit, opposing the prayer to release the documents on furnishing bank guarantee; however agreeing for a direction to release the same if the petitioner remits the full outstanding amounts due to the Bank. Before this Court, the learned counsel for the petitioner submits that the petitioner is OP(DRT).69/14 2 ready to pay the entire loan amounts outstanding to the Bank. In such circumstances, it is only proper that the DRT consider Ext.P3 application afresh and definitely, on the submission of the respondent Bank that they are willing to agree for release of the documents on payment of the entire outstanding amounts, there should be no impediment in law in granting such a prayer. Needless to say, setting aside of the ex parte Award would depend upon the explanation offered by the petitioner and the satisfaction arrived at by the DRT. DRT shall comply with the directions in this judgment within a period of three weeks from the date of production of a certified copy of this judgment before the Tribunal. Original Petition disposed of.
Sd/-
K.VINOD CHANDRAN, Judge Mrcs //True Copy//