The petitioners have approached this Court with the following prayers:
"i) issue a writ of mandamus or other appropriate writ, order or direction, commanding the respondents to abstain from pursuing any coercive proceedings as against the properties owned by the petitioners by virtue of Exhibits-P1 and P2 in respect of realizatioin of any liability in the name of prior owner late Mr.Nazarudeen at some distant point of time ;
ii) issue a writ of mandamus or other appropriate writ, order or direction, commanding respondents to release the property from all charges, if at all there be on, on reasonable terms considering the bonafide nature of purchase of properties by the petitioners and the lapse of more than 15 years thereafter and the investments made by them thereon and other circumstances; And
iii) pass such other order or direction, as this Honourable Court deems fit and proper to grant in the facts and circumstances of the case."
2 . A statement has been filed on behalf of the second W.P.(C)No.6897 OF 2014 2 respondent/Manager, South Indian Bank in the following terms "The petitioners are seeking release of their properties covered by Exhibit P1 and P2 Sale Deeds from the liability due to the second respondent under the Recovery Certificate -DRC No.855/SIB/KLM pending execution before the first respondent.
2. On instruction from the second respondent I submit that the second respondent has taken the valuation of the properties in the possession of the petitioners and is prepared to release the mortgage charge on the properties if they pay Rs.2,05,000/- (Rupees two lakhs five thousand only) each towards the certificate debt.
3. Heard the learned Counsel for the petitioners as well as the learned Standing Counsel for the respondent/Bank.
4. The learned Counsel for the petitioners submits that the petitioners are ready to satisfy the requirement as prescribed from the part of the second respondent by effecting deposit of Rs.2,05,000/_ each towards the certificate debt, so as to cause Exts.P1 and P2 title deeds to be returned to the petitioners.
In the said circumstance, the submission made across the W.P.(C)No.6897 OF 2014 3 Bar is recorded and the writ petition is disposed of with liberty to the petitioners to satisfy the amount as aforesaid, upon which, the concerned Title Deeds shall be released to the petitioners forthwith.
P.R.RAMACHANDRA MENON JUDGE lk