The petitioner has approached this Court with the following prayers:
(i) issue a Writ of Mandamus or such other Writ directing respondents to grant petitioner time to clear entire loan amount.
(ii) issue a Writ of Mandamus or such other Writ quashing Exhibit.P2.
(iii) direct the 1st respondent to hand over the prior documents of the property pledged, to the petitioner on closing the loan account.
(iv) grant such other reliefs as this Hon'ble Court may deem fit and proper as on the facts and circumstances of the case.”
2. When the matter came up for consideration before this Court on 24.10.2014, the following interim order was passed:
“The learned counsel for the petitioner submits that the petitioner is ready to satisfy the entire amount due to the Bank, since the property has been purchased from the concerned owner. It is stated that the petitioner is now being served with a copy of the statement of accounts. The sale is scheduled on 28.10.2014. The learned counsel for the petitioner submits that the petitioner wants to verify the figures and undertakes that he is ready to deposit a sum of Rs.10 lakhs on or before 25.10.2014.”
On receipt of notice on admission issued by this Court, the additional 3rd respondent entered appearance and after hearing to W.P.(C) No.25325 of 2014 2 the parties, this Court passed the following order on 27.10.2014:
“I.A. No.14565 of 2014 Heard. Allowed.
W.P.(C) The learned counsel for the petitioner submits that the condition imposed by this Court has already been complied with by depositing Rupees Ten lakhs and that the petitioner is ready to pay the balance as well.
2. The learned counsel appearing for the additional third respondent submits that, she is the owner of the property and the petitioner has approached this Court without impleading her and also without revealing the actual facts, in so far as the petitioner had executed an agreement to satisfy the liability towards the 2nd respondent Bank and also the liability in respect of another Bank as well. The learned counsel seeks for a short time to file counter affidavit.
3. The learned counsel for the respondent Bank submits that the sale is scheduled to be held tomorrow and that several tenders have already been received. Considering the facts and circumstances, this Court does not find it necessary to intercept the sale scheduled tomorrow. But confirmation of the sale shall be subject to further orders to be obtained from this Court.
List the matter for further consideration on 31.10.2014.”
Today, when the matter is taken up for consideration, the learned counsel for the petitioner as well as the learned counsel appearing for the additional 3rd respondent submit that, the dispute between the petitioner and the additional 3rd respondent stands settled and that the petitioner is ready to wipe off the entire liability towards the respondent Bank under the loan transaction. It is also pointed out that, the petitioner has already W.P.(C) No.25325 of 2014 3 satisfied a sum of Rs.10 lakhs as mentioned in the interim order dated 24.10.2014.
3. The learned counsel appearing for the respondent Bank submits on instructions that, the total liability to be cleared as on 31.10.2014 is nearly Rs.16,78,159/- (Rupees Sixteen lakhs seventy eight thousand one hundred and fifty nine only) plus subsequent interest and other incidental expenses.
4. The learned counsel for the petitioner submits that, the petitioner is ready to clear the said amount forthwith.
5. In the above circumstances, the petitioner is set at liberty to satisfy the entire balance amount in respect of the loan transaction, upon which the satisfaction shall be recorded within 'one week'. The title deeds shall be released to the petitioner, as agreed to, on behalf of the additional 3rd respondent, across the Bar.
The writ petition is disposed of.
P.R. RAMACHANDRA MENON, JUDGE sp