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JOSEPH J.THERMADAM v. THE ASSISTANT REGISTRAR FOR CO-OPERATIVE - WP(C) No. 18847 of 2007(R)  RD-KL 11559 (29 June 2007)
IN THE HIGH COURT OF KERALA AT ERNAKULAMWP(C) No. 18847 of 2007(R)
1. JOSEPH J.THERMADAM,
1. THE ASSISTANT REGISTRAR FOR CO-OPERATIVE
2. PEECHI SERVICE CO-OPERATIVE BANK,
For Petitioner :SRI.M.P.ASHOK KUMAR
For Respondent :SRI.V.G.ARUN
The Hon'ble MR. Justice A.K.BASHEER
O R D E R
A.K. BASHEER, J.W.P.(C). NO. 18847 OF 2007
Dated this the 29th day of June, 2007
J U D G M E N T
Having heard learned counsel for the petitioner and the learned Government Pleader, I am satisfied that in the peculiar facts and circumstances of the case, the following directions are to be issued.
2. I am persuaded to take this view particularly since respondent No.2 (hereinafter referred to as "the Bank") has not chosen to appear either in person or through counsel in spite of the fact that notice was served on the Secretary of the Bank through special messenger.
3. It appears that petitioner had availed of a loan of Rs. 3 lakhs from the Bank in the year 2004. The loan was to be repaid in 36 instalments. According to the petitioner, he has already repaid a sum of Rs.2,11,230/- and the balance according to him would come to Rs.1.75 lakhs. He had deposited his title deed when he availed of the loan. He wants to close the loan account and get back his title deed. But the Bank refused to accede to WPC NO.18847/07 Page numbers the request made by the petitioner. It is in the above circumstances that petitioner has preferred this writ petition after filing Ext.P2 complaint before respondent No.1 requesting him to take appropriate action against respondent No.2.
4. It is admitted by the petitioner that the Bank has initiated arbitration proceedings claiming Rs.2.75 lakhs from him towards the balance alleged due in the loan account. It is submitted on behalf of the petitioner that he is prepared to give deposit of Rs.2.75 lakhs pending the Arbitration proceedings. What the petitioner needs is only the return of his title deed. As mentioned earlier, the Bank has not bothered to appear in response to the notice. In the peculiar facts and circumstances, I am of the view that the petitioner has to be permitted to remit the amount provisionally, which he is prepared to do, so that he may be able to get back his title deed. Therefore, respondent No.2 is directed to accept the amount of Rs. 2.75 lakhs as fixed deposit towards the entire liability provisionally. If the Bank is of the view that petitioner may have to pay a little more than the amount mentioned above, such a demand can be raised by the Bank and the petitioner shall WPC NO.18847/07 Page numbers deposit that amount also provisionally and without prejudice to his contentions in the Arbitration proceedings. The Bank shall release the title deed to the petitioner within 7 days from the date of receipt of the amount mentioned above. The writ petition is disposed of as above.
A.K. BASHEER, JUDGEvps WPC NO.18847/07 Page numbers
A.K. BASHEER, JUDGEOP NO.20954/00
1ST MARCH, 2007
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