9911796707
TMI Blog2024 (9) TMI 1403X X X X Extracts X X X X X X X X Extracts X X X X ..... there has been no issue of delivery of possession of property. In the instant case respondent-bank as already noted above has undertaken the endeavour to deliver possession of the subject property to the petitioner. In that view of the matter this Court do see any justification in petitioner claiming compound interest on the amount deposited. However, this Court is of the considered view that petitioner is entitled for simple interest at the rate of 12% p.a. for the period claimed in the writ petition. Petition disposed of. - HON'BLE MR JUSTICE M.G.S. KAMAL For the Petitioner (By Sri. Paras Jain, Advocate) For the Respondent (By Sri. Sathish Kumar J., Advocate) ORAL ORDER Common petitioner namely M/s. Dhanurdharini Polymers Pvt. Ltd., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent-bank would deliver peaceful vacant possession of the same. The respondent-bank having received the entire sale consideration of Rs. 99,50,000/- is duty bound to deliver the vacant peaceful possession of the property in the light of the Judgment rendered by the Apex Court in the case of ITC Limited vs. Blue Coast Hotels Limited reported in 2018 (15) SCC 99 and other judgments, wherein it is held that the responsibility of the banks to convey right, title, interest, possession the secured assets would not be ceased even after the sale of the property. (b) petitioner had admittedly deposited a sum of Rs. 99,50,000/- as on 04.07.2015. That the respondent-bank without executing and registering the sale certificate had intimated that the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Interest Act, 2002 and certain documents are required to be furnished before the Magistrate and with the co-operation and assistance of the petitioner herein necessary orders thereon would be obtained and respondent-bank would ensure delivery of possession as required under law. The said submission is taken on record as an undertaking to this Court. 7. As regards relief of refund of TDS amount and interest learned counsel for respondent-bank submit that respondent bank is ready and willing to refund TDS amount. However, he has objection with regard to rate of interest being claimed by the petitioner. He submits that the amount paid by the petitioner has been deposited in Fixed Deposit and bank is ready and willing to pay interest which has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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