- (1.) Petitioner availed facility of term loan from the respondent No.1-United Commercial Co-operative Bank Ltd. in the year 2011. It is alleged that the installments were being paid, however, by order dated 31.5.2013 the Reserve Bank of India suspended the banking business of the respondent No.1 and as a result of the same, the banking transaction came to a halt. The petitioner made his last deposit of the installment on 12.8.2013 and thereafter, the counter of the bank was closed for any deposit and further installments could not be deposited on account of the order issued by the RBI. Thereafter, the Registrar, Co-operative Societies, Lucknow, in pursuance to the direction of the Reserve Bank of India appointed a liquidator, who has taken charge of the bank. Petitioner by means of the letter dated 4.8.2017 approached the liquidator for providing the copy of the statement of account to enable him to clear the outstanding dues. In response thereof, statement of account was issued by the liquidator to the petitioner showing a total balance of Rs.17,77,767/- in the loan account. After receiving the statement of account, the petitioner by means of the letter dated 26.8.2017 made an offer to the liquidator to liquidate the said amount in full and final payment of the entire outstanding dues. One of condition put forward in the letter was that in case, the aforesaid offer was acceptable to the liquidator, the cheque of Rs.5,00,000/- enclosed with the aforesaid letter may be encashed by the liquidator towards part adjustment of the amount offered by the petitioner. The said cheque was also encashed by the liquidator and receipt in respect thereof was also issued.
(2.) Learned counsel for the petitioner points out that in furtherance of the earlier two offer letters, the petitioner deposited the balance amount of Rs.7,77,767/- by means of a cheque along with letter dated 30.10.2017, which has also been encashed and receipt to that effect has been issued.
(3.) Grievance of the petitioner is that when he approached the liquidator for release of the title deed of the mortgaged property as security to the loan vide impugned letter dated 14.12.2017, a further demand to pay a sum of Rs.6,18,899/- was raised.;