the 4th respondent for the settlement of the loan in question and three other loans for Rs.17.75 lakhs and suit costs of Rs.0.42 lakhs, the total of which comes to Rs.18.17 lakhs towards full and final settlement of all the matters following which the 4th respondent issued a letter dated 1.6.2002 stating under point No.4 of it “Part release of securities for disposal is permitted” and in consequence of that, he sent a letter dated 11.7.2002 along with cheque for Rs.2.50 lakhs issued by the purchasers of Plots at Ghatkesar (covered under three title deeds) and another cheque for Rs.6.00 lakhs issued by purchaser of Ac.13.00 at Muthireddygudem, hamlet of Raigiri village (covered by a sale deed) and requested the 4th respondent to encash the said cheques and issue no objection certificate and release the said four title deeds while making further request to release title deeds in respect of Ac.10.00 of land in Sy.No.379 of Muthireddygudem village, which the respondent Bank agreed, but the 4th respondent having encashed those cheques committed breach of undertaking and also committed default in releasing the title deeds contrary to the written undertaking. Further, the respondent Bank intimated to the 5th respondent about receipt of Rs.8.5 lakhs from him under One Time Settlement and release of title deeds pertaining to Ac.13.00 and Ac.10.00, whereas the 5th respondent issued the corresponding proclamation of sale with regard to those properties and put the same properties for sale along with other properties, by reason of which, he suffered huge loss. The 4th respondent had been adopting unfair and unethical practices to extract more money from him contrary to the agreed terms and law. Further, he got bonafide intention to repay the balance of OTS amount with simple interest @ 12% per annum towards full and final settlement of the dues. Therefore this writ petition is filed.
