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The Kerala High Court on Wednesday directed a borrower, who had repaid his loan taken from Karuvannur Service Cooperative Bank mortgaging his property and sought a directive to the bank and the Enforcement Directorate to return the title deed and execute the release deed, to move the bank to get the documents back.
Disposing of a petition filed by Francis of Mukundapuram, the court ordered that “if the petitioner makes a request before the bank for the return of the title deed and execution of the release deed after the closure of the liability, appropriate steps in the light of the submissions shall be taken.”
Counsel for the bank submitted that the petitioner had not approached the bank so far and that the original title deed was seized by the Enforcement Directorate in connection with an investigation into a loan scam.
Counsel for the Enforcement Directorate, Jaishankar V.,Nair, submitted that if the bank made an application for the return of the title deed, the agency shall consider whether the original title deed was required to be retained and if not the same shall be returned to the bank.
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