THE HON’BLE SRI JUSTICE C.V.NAGARJUNA REDDY Writ Petition No.31260 of 2014 Between:
Dated 16th December, 2014 M/s.Golden Gate Properties Ltd., And M/s.The Cosmos Cooperative Bank Ltd., and others …Petitioner …Respondents Counsel for the petitioner: Sri P.Suresh Counsel for respondent Nos.1 & 2: Smt.V.Dyumani Counsel for respondent No.3: Sri G.K.Desh Pande for M/s.G.K.Law Firm The Court made the following:
ORDER:
This writ petition is filed for a mandamus to declare the action of respondent Nos.1 and 2 in not returning the original documents mortgaged by the petitioner despite re-payment of the entire loan amount as illegal and arbitrary.
At the hearing, Smt.Dyumani, learned counsel for respondent Nos.1 and 2, has submitted that the petitioner has already paid the entire loan amount which was the subject matter of the proceedings before the Debt Recovery Tribunal. She has further submitted that the only reason for non return of the documents by respondent Nos.1 and 2 is pendency of appeal filed by respondent No.3 before the Debt Recovery Appellate Tribunal.
Sri G.K.Desh Pande, learned counsel for respondent No.3, submitted that if re-payment of the loan amount by the petitioner is correct, the appeal filed by his client before the Debt Recovery Appellate Tribunal does not survive for adjudication. He has, however, stated that his client will withdraw the appeal if the petitioner returns document bearing No.12793/2003, dated 07.10.2003, in respect of 726 sq.yards of land out of Ac.0.30 guntas in Survey No.6E of Kondapur village, Serilingampally Mandal, Ranga Reddy District to it.
Sri P.Suresh, learned counsel for the petitioner, has fairly agreed that his client will return the said document to respondent No.3 after receiving the original documents from respondent Nos.1 and 2.
In the light of the above agreement reached among the learned counsel for the petitioner, respondent Nos.1 & 2 and respondent No.3, the writ petition is disposed of in the following terms:
(1) Within two weeks from the date of receipt of a copy of this order, respondent Nos.1 and 2 shall return all the original documents in respect of the properties mortgaged by the petitioner in connection with loan account No.03075100143;
(2) Within two weeks of receipt of the documents from respondent Nos.1 and 2, the petitioner shall return document bearing No.12793/2003, dated 07.10.2003, in respect of 726 sq.yards of land in Survey No.6E of Kondapur village, Serilingampally Mandal, Ranga Reddy District to respondent No.3; and
(3) Within two weeks from the date of receipt of the document by it, respondent No.3 shall withdraw the appeal pending before the Debt Recovery Appellate Tribunal.
As a sequel to disposal of the writ petition, W.P.M.P.No.39072 of 2014 shall stand disposed of as infructuous.
C.V.NAGARJUNA REDDY, J 16th December, 2014
VGB