Punjab-Haryana High Court
M/S R.P. Jewellers vs Indian Overseas Bank on 11 March, 2016
Author: Arun Palli
Bench: Arun Palli
IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH
Civil Writ Petition No.4642 of 2016 (O&M)
DATE OF DECISION: 11.03.2016
M/s R.P. Jewellers
.....Petitioner
versus
Indian Overseas Bank, Ludhiana
.....Respondents
CORAM:- HON'BLE MR. S.J. VAZIFDAR, ACTING CHIEF JUSTICE
HON'BLE MR. JUSTICE ARUN PALLI
Present: Ms. Anjali Khosla, Advocate for the petitioner
..
S.J. VAZIFDAR, ACTING CHIEF JUSTICE: (Oral) The petitioner availed a loan from the respondent- bank. Its grievance in this petition is that the respondent- bank wrongly accepted the collateral security created by the mother of the sole proprietor of the petitioner.
2. The petitioner seeks return of the title deed of the property which allegedly belongs to the mother of the sole proprietor of the petitioner. The petitioner, therefore, has no cause of action. The cause of action, if any, vests with the mother of the sole proprietor of the petitioner, who created the collateral security. Even if the collateral security was illegally created, she is the only person who is entitled to apply for the documents to be returned. PARKASH CHAND 2016.03.15 14:09 I attest to the accuracy and authenticity of this document
CWP-4642-2016 - 2 -
3. The petition is, therefore, dismissed as not
maintainable. Needless to clarify that the mother of the sole proprietor is always at liberty to adopt appropriate proceedings for return of the documents.
(S.J. VAZIFDAR)
ACTING CHIEF JUSTICE
11.03.2016 (ARUN PALLI)
Neenu/parkash* JUDGE
PARKASH CHAND
2016.03.15 14:09
I attest to the accuracy and
authenticity of this document