Petitioner sought mandamus to recover possession of a secured asset by accepting an alleged oral one-time settlement offer from a housing finance company despite SARFAESI action already initiated. The High Court declined to act on an oral OTS claim and dismissed the writ petition.
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W.P(MD)No.23966 of 2024
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
DATED : 14.10.2024
CORAM :
THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN and THE HONOURABLE MRS.JUSTICE L.VICTORIA GOWRI
W.P(MD)No.23966 of 2024 and
W.M.P.(MD)No.20300 of 2024
J.Thirumalairajan
... Petitioner
vs.
Page No.1 of 3
W.P(MD)No.23966 of 2024
Prayer : Petition filed under Article 226 of the Constitution of India, to issue a Writ of Mandamus, directing the Respondents to hand over the possession of the secured asset lying in S.Nos.495/3, 495/4, 495/5, 495/6B, 495/7B of Pattiveeranpatti Town Panchayat, Sevuagampatti Village, Ayyampalayam Sub-Registry, Nilakottai Taluk, Dindigul District, by accepting the balance OTS offer amount of Rs.18,00,000/- which was orally given by the 3rd respondent on the basis of the petitioner's representation dated 22.08.2024.
For Petitioner : Mr.M.Sankar
ORDER
( Order of the Court was made by R.SUBRAMANIAN, J.)
Mandamus prayed for by the petitioner cannot be granted, since the petitioner relies upon a so-called oral one time settlement offered by the Bank.
2 . We do not think we can act upon such claim of the petitioner,
particularly, in a matter where action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, has already been initiated. Hence, we see no reason to entertain the Writ Petition. The Writ Petition is dismissed. No costs. Consequently, connected Miscellaneous Petition is closed.
(R.S.M, J.) (L.V.G, J.) 14.10.2024
Index : No Neutral Citation : No
Page No.2 of 3
W.P(MD)No.23966 of 2024
R.SUBRAMANIAN, J. and L.VICTORIA GOWRI, J.
smn2
ORDER MADE IN W.P(MD)No.23966 of 2024 DATED : 14.10.2024
https://www.mhc.tn.gov.in/judis Page No.3 of 3
1 issue framed by the court
Whether a writ of mandamus can issue to hand over possession of the secured asset based on an alleged oral one-time settlement offer by the lender.
2 provisions across 2 enactments
J.Thirumalairajan
The Managing Director, Aptus Value Housing Finance Private Limited
Executive Director & Chief Business Officer, Aptus Value Housing Finance Private Limited
The Branch Manager, Aptus Value Housing Finance Private Limited, Dindigul
R.Subramanian
L.Victoria Gowri
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
