Wednesday, February 22, 2012

M/s.Indian Bank V/S Mr.J.Paramanandam & ors

IA 1506/11 (adv.hearing); counter filed.  Heard both sides. This IA is allowed.

IA 1461/11 (impleading petition);  Heard both sides. This IA is allowed.

IA 150711 (to release the title deeds) : R3 to R12 are given up.  Notice given to R1 and R2.

Ld.  Counsel  appearing on behalf of Ld. Counsel Shri Thyagarajan for the petitioner took this Tribunal through various averments made in the affidavit filed in support of the petition and stated that the ‘LIS’ having come to an end in this matter the petitioner is entitled to get back the original title documents that are presently with the bank. 

Ld.  Counsel Shri Kasturi Rangan appearing on behalf of R1 stated that the matter has been settled and that no prejudice would be caused if the original title documents are released after the completion of the payment of Rs.1.00 crore by the first respondent to the bank as agreed to and prayed that this petition may be dismissed.

Ld.  Counsel Shri Balasubramaniam appearing on behalf of the respondent bank stated that the terms of compromise are yet to be fulfilled and that this Tribunal may not release the original title documents at this juncture though the matter has been settled.

Heard the Ld.  Counsel.

In view of the facts and circumstances of the case more particularly in view of the fact that the petitioner viz. Shri A. Ramadas Rao has fulfilled the requirement of the respondent bank in this case it would be appropriate if the following order is passed.

“The Chief Manager, ARMB-I, Indian Bank Zonal Office, Indian Bank Circle Office Building, Chennai is hereby directed to return the original title documents relating to the property situated at No.29, Senthamangalam Village, Sunguvar Chatram Firka, Sriperumbudur Taluk, Kancheepuram District registered as Document. No.418 of 2011 in the office of Sub-Registrar, Wallajabad within a period of one week from today.”

This IA is disposed of accordingly,

RA 28/11 : Call on 9.1.2012.

This order was issued by the Honble Chair Person Of DRAT Chennai on 14th Dec 2012

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