Calcutta High Court (Appellete Side)
Ag (Swapan Paul & Anr vs State Bank Of Bikaner & Jaipur & Ors.) on 21 August, 2017
Author: Debangsu Basak
Bench: Debangsu Basak
1 W. P. 21615 (W) OF 2017 21.08.2017 ag (Swapan Paul & Anr. -vs- State Bank of Bikaner & Jaipur & Ors.) Sl. No.29 Court no.13 Mr. Rajnarayan Datta - for the Petitioners Mr. Anirban Pramanick - for State Bank of India The petitioners seek return of original title deed deposited as security in respect of two loan accounts.
The learned advocate for the petitioners submits that, two loan accounts have since been repaid. He refers to no due certificate issued by the Bank in this regard. He submits that, consequent thereupon the petitioners are entitled to return of all securities including the title deed. The petitioners had made a representation to such effect with the Bank. The Bank did not respond thereto. The petitioners had thereafter caused their advocate to issue a letter. The Bank has not responded thereto also.
The learned advocate appearing for the Bank submits that, one of the petitioners is a guarantor in respect of another loan account. Title deed is in the name of both the petitioners. Consequently, title deed cannot be returned.
In reply, the learned advocate for the petitioners relies upon a letter dated May 17, 2017 of the petitioners, which contains a writing by the Bank that the original loan document will be handed over after receipt of the same from SAARC.
I have considered the rival contentions of the parties and the materials made available on record.
The fact that, one of the petitioners is a guarantor for another loan account is not disputed. The fact that, the title deed is in the name of both the petitioners is also not 2 disputed. Liability of the guarantor is co-extensive with that of the borrower. The Bank has the right of banker's lien. The Bank has apparently exercised such right in respect of the title deed. It is entitled to do so. The writing dated April 17, 2017 does not denude the right of the Bank to exercise its Banker's lien. The title deed had come into the possession of the Bank in its usual course of banking business. It is entitled to exercise banker's lien over the title deed so long the account in which one of the petitioners is guarantor is not squared off.
In such circumstances, I am not minded to grant any relief to the petitioners. W. P. No. 21615 (W) of 2017 is dismissed without any order as to costs. Urgent certified website copies of this order, if applied for, be made available to the parties upon compliance of the requisite formalities.
(Debangsu Basak, J.)