PACHIGOLLA RAJA RAO Vs. STATE BANK OF INDIA
HIGH COURT OF ANDHRA PRADESH
Pachigolla Raja Rao
STATE BANK OF INDIA
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M Ganga Rao, J. -
(1.)The petitioner has availed loan from the 3rd respondent-bank and cleared the loans and he was given No Due Certificate, but his documents which were kept as security for the loan were not returned inspite of request made by the petitioner.
(2.)Assailing the inaction of the respondents in not returning his documents kept as security for the loan by the respondents, even after repayment of loan amount, this Writ Petition came to be filed.
(3.)The case of the petitioner is that he had established a rice mill in the name and style of M/s Venkata padma Rice Mill, PL-Puram, Payakaraopeta Mandal, Visakhapatnam District. He had approached the 3rd respondent-bank for sanction of cash credit facility upto a limit of Rs.3.00 lakhs on 30.06.1998, and the same was availed upto 22.214.171.1242, entire dues repaid and account was closed. Subsequently, the 3rd respondent sanctioned term loan of Rs.2.40 lakhs and a cash credit facility of Rs.7.00 lakhs on 03.01.2012 and the said term loan was discharged on 13.12.2013 and outstanding in the cash credit were also repaid and the account was closed on 24.07.2014. While obtaining the loan, the petitioner has deposited the following documents with the 3rd respondent-bank :-
I. Registered Sale deed bearing Doc.No.172/91, dt.25.02.1991.
II. Registered Sale deed bearing Doc.No.615/1994, dt.22.04.1994.
III. Registered Sale deed bearing Doc.No.2130/1989 dt.17.10.1989.
IV. Certified extract of sale deed bearing Doc.No.2131/1989, dt.07.10.1989
V. Registered Sale deed bearing Doc.No.907/1992, dt.17.06.1991.
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