2022 (9) TMI 208

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....d respondent. On the verge of disbursal of the loan, on the objections of the first and second respondents, the loan have not been granted, for the reasons that there is arrears of tax by the petitioner's father and a communication has been sent by the second respondent to the third respondent in Na.Ka.A8/1944/2021 dated 03.06.2022, prayed for quashing the same and to pass positive orders to release the sanctioned loan, this Writ Petition has been filed. 2. The contention of the petitioner is that the petitioner's father Thiagarajan is the proprietor of one Tvl.N.C.N.T.V. Arunram Industries, Thickanamcode, Kanyakumari District. He is doing the business from the year 2012. It is the partnership firm and the business was carried ou....

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....peal is pending. In the meanwhile, the petitioner and his mother C.Vimala, as the partners of N.C.N Traders has commencing the Margin Free Market at Thickanamcode made an application for loan with the third respondent for an amount of Rs.4,56,00,000/-. They had made all basic facilities including building and other infrastructure. Along with the loan application, they submitted the documents of his father property as collateral security. The loan was processed and sanctioned by the third respondent by way of Memorandum of Deposit of Title Deeds bearing Document No.2875/2022 dated 30.05.2022 of Karingal Sub-Registry was also executed by the petitioner's father in favour of the third respondent. While this being so, when the loan was at t....