Pankajam Rajan v. The Authorised Officer, L. I. C. Housing Finance Ltd. , & Others
2010-11-01
T.S.SIVAGNANAM
body2010
DigiLaw.ai
Judgment :- The prayer in the writ petition is to quash the order dated 16.02.2008 issued by the first respondent and to direct the respondents to return all the original documents and title deeds deposited by the petitioner in connection with the loan A/c. No.1311380 and 1311583 after receiving the loan amount if any. 2. The impugned order is the demand notice issued under Section 13 (2) of the SARFEASI Act. The learned standing counsel for the respondent company by relied upon the written communication recieved from the Authorised Officer, LIC Housing Ltd., Coimbatore, dated 07.01.2010 which states that Loan A/c. No.1311583 and 1311380 are closed out of Court and the applicants have also given consent to withdraw the case filed before this Court. A copy of the letter dated 07.01.2010 written by the petitioner to the Area Manager of the finance company is also enclosed along with the letter of the first respondent. The learned counsel would submit that as per the letter by the petitioner dated 07.01.2010 the entire dues to the respondents has been settled in one time settlement by paying Rs.10 lakhs. 3. In such view of the matter quashing the notice under Section 13(2) does not arise. However, there will be a direction to the respondents to return the documents, which have been deposited by the petitioner to secure the loan amount, within a period of two weeks from the date of receipt of a copy of this order. 4. In result the writ petition is disposed of with the above direction. Consequently, connected M.P.No.1 of 2008 is closed.