JUDGMENT - SINHA D.D., J.:-Admit. Heard finally by consent of Shri Dharmadhikari, learned Counsel for the appellant, Miss Sharma, learned Counsel for the respondent No. 1, Shri Madnani, learned Counsel for the respondent No. 2, and Shri Bhangde, learned Counsel for the respondent No. 3.

2.Shri Dharmadhikari, learned Counsel for the appellant, states that M/s. Nav Bharat Trading Company had obtained a loan of Rs. 3,60,000/- in the year 1953 from the Laxmi Bank Ltd. Shri Gopaldas Mohta, grand-father of the appellant, was one of the Directors of the above referred company and he allegedly stood guarantor for the above mentioned loan. It is further alleged that shri Gopaldas Mohta had mortgaged two immovable properties known as "Mohta House" situated at Civil Lines, Nagpur and "Marble House" situated at Itwari, Nagpur. The aforesaid properties belong to M/s Gopaldasji Bulakidas Mohta, a HUF.

3.Learned Counsel Shri Dharmadhikari further states that respondent No. 1 had filed Official Liquidator's report No. 80/2002 in Company Petition No. 14/1960 stating therein that a sum of Rs. 2.5 crores approximately is to be received from Mohta family and details of the dues are given in the Officia

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