Kana.Velaventhan v. The Authorized Officer

ORDER This Writ Petition has been filed seeking the issuance of a Writ of Mandamus directing the respondents to issue a No Objection Certificate

(NOC) in respect of Loan Account Nos.714984834, 860359957 and 923667056 availed by the petitioner from the first respondent Bank, based on the petitioner's representation dated 12.06.2026, within such time as may be stipulated by this Court.

2.Heard the learned counsel appearing on either side and perused the materials available on record.

3.The learned counsel appearing for the petitioner submitted that the petitioner had availed three loan facilities from the first respondent Bank by creating security over the subject property. It is submitted that two out of the three loan accounts were subsequently assigned by the first respondent Bank to the second respondent for the purpose of recovery. Thereafter, the petitioner submitted a representation dated 12.06.2026 requesting the respondents to issue a No Objection Certificate. It is the further submission of the learned counsel that pursuant to a One Time Settlement (OTS) arrived at with the second respondent, the dues payable under the assigned loan accounts were settled, and therefore, the petitioner is entitled to the issuance of a No Due Certificate/No Objection Certificate.

4.However, during the course of hearing, the learned counsel for the petitioner fairly submitted that the petitioner has now come to know that the representation had already been rejected by the second respondent by proceedings dated 08.03.2023. It is further submitted that the respondents have also initiated proceedings under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) against the petitioner.

5.In view of the above subsequent developments, the relief sought for in the present Writ Petition cannot be granted. Since proceedings under the SARFAESI Act have already been initiated, it is open to the petitioner to work out his remedy before the appropriate forum in the manner known to law.

6.Accordingly, this Writ Petition is disposed of, granting liberty to the petitioner to avail the statutory remedy available under the SARFAESI Act before the appropriate authority/forum, if so advised. There shall be no order as to costs.

21.07.2026 NCC : Yes / No Index : Yes / No ps To

1.The Authorized Officer, Indian Bank Limited, Rep. by its Deputy General Manager, Zonal Office, 100/101, East Avani Moola Street, Madurai - 625 001.

2.The Authorized Officer, Arcil Office No. 560-562, 1G, 1st Floor, Century Plaza Anna Salai, Teynampet, Chennai – 600 018.

M.DHANDAPANI, J. ps

21.07.2026

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 21.07.2026 CORAM THE HONOURABLE MR.JUSTICE M.DHANDAPANI Kana.Velaventhan ... Petitioner Vs 1.The Authorized Officer, Indian Bank Limited, Rep. by its Deputy General Manager, Zonal Office, 100/101, East Avani Moola Street, Madurai - 625 001. 2.The Authorized Officer, Arcil Office No. 560-562, 1G, 1st Floor, Century Plaza Anna Salai, Teynampet, Chennai – 600 018. ... Respondents PRAYER: Writ Petition filed under Article 226 of Constitution of India, to issue a Writ of Mandamus directing the respondents to issue No Objection Certificate to the Petitioner A/c No 714984834 A/C No 860359957 A/c 923667056 availed at the first respondent Bank based on the petitioner's representation dated 12.06.2026 within the time limit as may fixed by this Court. For Petitioner : Mr.R.M.Anbunithi for M/s.Tamil Law Firm For Respondents : Mr.C.Karthik (R1) Standing Counsel : Mr.M.Arunachalam (R2)