{"id":288038,"date":"2023-03-28T10:00:06","date_gmt":"2023-03-28T04:30:06","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=288038"},"modified":"2023-04-03T12:48:31","modified_gmt":"2023-04-03T07:18:31","slug":"bank-cannot-retain-security-documents-after-closure-of-home-loan-kerala-hc-legal-research-legal-news-updates","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/28\/bank-cannot-retain-security-documents-after-closure-of-home-loan-kerala-hc-legal-research-legal-news-updates\/","title":{"rendered":"Unilateral action of bank withholding security documents is illegal and arbitrary: Kerala High Court"},"content":{"rendered":"<p><script type=\"text\/javascript\">\n\tdocument.title = 'Bank cannot retain security documents after closure of home loan: Kerala HC | SCC Blog'\n\tdocument.querySelector('meta[name=\"description\"]').setAttribute(\"content\", \"Kerala High Court held SBI Bank retaining security documents after closure of home loan illegal and any adjudication has to be done by Court of law.\");\n<\/script><\/p>\n<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\"><b>Kerala High Court:<\/b> In a Writ Petition filed before the Court seeking Mandamus commanding State Bank of India (&#8216;the bank&#8217;) to release the security documents, including the original title deed including other related reliefs, the Single Judge bench of Shaji P. Chaly, J., held that the bank was not entitled to retain the security documents related to a mortgaged property if the entire loan amounts are paid to the satisfaction of the Bank.<\/p>\n<p style=\"margin-bottom: 3%;\">In the instant matter, the petitioner availed housing loans of Rs 16 lakhs from the bank by mortgaging the title deeds of his property. The petitioner&#8217;s wife invested her share of cash in his business with the pre-condition of assigning 1\/4<span style=\"vertical-align: super;\">th<\/span> share in the mortgaged property in her favour. The said loan was subsequently closed by the petitioner on 7-4-2022 with closure report dated 12-4-2022 after repayment of the loan, but the bank refused to release security documents including original title deed. The bank through letter dated 21-7-2022 communicated the intention to initiate legal action against the petitioner claiming his account being classified as fraud consequent to the alienation of the property without bank&#8217;s permission.<\/p>\n<p style=\"margin-bottom: 3%;\">To elucidate the real implication of a mortgage, the Court perused Sections <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0001521610\">58<\/a>, <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0001521615\">60-A<\/a>, <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0001521645\">83<\/a> and <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0001521654\">91<\/a> of the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002726942\">Transfer of Property Act, 1882<\/a> and concluded that mere alienation of the property during the subsistence of the mortgage does not entitle the bank to withhold the security documents after the interest of the bank is protected by closing the loan account.<\/p>\n<p style=\"margin-bottom: 3%;\">The Court further observed that &#8220;the bank is not entitled to adjudicate an issue with respect to the fraud allegedly committed; and merely because the bank initiates any action, the bank is not entitled to detain the title documents and other security documents submitted by the petitioner before the bank&#8221;. The Court explained that the sole purpose of the mortgage was to secure the loans, which was paid off by the petitioner, and if the bank suffered any loss due to alienation of property, the matter has to be adjudicated by the competent Court of law and not the bank. The Court held the unilateral action of the bank withholding security documents of the said property illegal and arbitrary.<\/p>\n<p style=\"margin-bottom: 3%;\">The Court allowed the instant Writ Petition and directed the bank to release the title deed and other security documents furnished by the petitioner on the said loan accounts at the earliest.<\/p>\n<p style=\"margin-bottom: 3%;\">[<span style=\"font-weight: bold; color: #632423;\">Vinu Madhavan v. State Bank of India, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/X9pZjUs9\">2023 SCC OnLine Ker 1608<\/a>, decided on 17-03-2023<\/span>]<\/p>\n<hr\/>\n<p>Advocates who appeared in this case :<\/p>\n<p style=\"margin-left: 18pt;\">Counsel for Appellant: Advocate R. Muraleekrishnan, Advocate V.S. Nowshad, Advocate T.M. Reshmy, Advocate Sithara. S, Advocate Binu K.B.<\/p>\n<p style=\"margin-left: 18pt;\">Counsel for Respondent: Standing Counsel Sri. M. Jithesh Menon;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><i>Kerala High Court held that once loan is repaid, the bank is not entitled to withhold the title deed merely on the grounds that the petitioner has transferred the property during the subsistence of mortgage.<\/i><\/p>\n","protected":false},"author":67011,"featured_media":287122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,10],"tags":[2523,56296,56298,34954,56299,56297,32026,14591],"class_list":["post-288038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-highcourts","tag-Kerala_High_Court","tag-loan-repayment","tag-security-documents","tag-state-bank-of-india","tag-title-deed","tag-tpa-act","tag-transfer-of-property-act","tag-writ-of-mandamus"],"yoast_head":"<!-- This site is optimized with the Yoast 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High Court directs SBI to pay Rs. 1 Lakh compensation for not returning title deeds of mortgaged property after loan settlement","author":"Editor","date":"November 27, 2024","format":false,"excerpt":"\u201cOnce the loan was resolved, there was no legal reason for the Bank to withhold the return of the title deed, regardless of the pending litigation. Therefore, the refusal to return the document is unjustifiable.\u201d","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Orissa High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":241168,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/23\/ker-hc-even-if-the-bank-is-a-public-sector-bank-writ-petition-under-art-226-is-not-maintainable-if-act-in-question-is-not-one-involving-any-element-of-public-duty\/","url_meta":{"origin":288038,"position":1},"title":"Ker HC | Even if the Bank is a public sector bank, writ petition under Art. 226 is not maintainable if act in question is not one involving any element of public duty","author":"Editor","date":"December 23, 2020","format":false,"excerpt":"Kerala High Court: P.V. Asha, J. allowed the writ petition questioning status of IDBI Bank as \u201cState\u201d under Article 12 of the Constitution and further stated that the acts of public sector undertakings arising out of contractual transactions between the parties will not fall under the term \u201cpublic duty\u201d to\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":199940,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/09\/contractual-terms-cannot-be-altered-by-virtue-of-article-226-of-the-constitution-of-india\/","url_meta":{"origin":288038,"position":2},"title":"Contractual terms cannot be altered by virtue of Article 226 of the Constitution of India","author":"Bhumika Indulia","date":"August 9, 2018","format":false,"excerpt":"Kerala High Court: A Single Judge Bench of Dama Seshadri Naidu, J., decided a writ petition wherein it held that the jurisdiction of Article 226 of the Constitution of India does not go to the extent of altering the terms of a contract. As per the facts of the case,\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":319060,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/04\/01\/kerala-hc-credit-rating-updated-three-weeks-legal-news\/","url_meta":{"origin":288038,"position":3},"title":"[Unresolved credit score complaint] Read how Kerala HC came to rescue borrower\u2019s right to updated CIBIL Score on closure of loan account and no subsisting loan","author":"Editor","date":"April 1, 2024","format":false,"excerpt":"The petitioner sought a direction to the Trans Union Cibil Limited to update the credit score on closure of his loan account with Canara Bank.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Kerala High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Kerala-High-Court-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Kerala-High-Court-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Kerala-High-Court-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Kerala-High-Court-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":239282,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/17\/ker-hc-can-demand-notices-issued-under-s-132-of-sarfaesi-act-be-challenged-invoking-writ-jurisdiction-of-high-courts-court-considers\/","url_meta":{"origin":288038,"position":4},"title":"Ker HC | Can demand notices issued under S. 13(2) of SARFAESI Act be challenged invoking writ jurisdiction of High Courts? Court considers","author":"Bhumika Indulia","date":"November 17, 2020","format":false,"excerpt":"Kerala High Court:\u00a0A.M. Badar, J., while addressing the instant matter held that, demand notices under Section 13(2) of the SARFAESI Act can be challenged before the Debt Recovery Tribunal (DRT). The instant petition was filed by four Cashew Processing Units. 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