1. The appeal arises out of the Judgment and Decree passed by the learned Adhoc District Judge-I, Fast Track at Panaji in Civil Suit No.304/2004 on 30/7/2008, by which the civil suit filed by the original plaintiffs is partly decreed and it is declared that the Deed of Mortgage dated 4/2/1991 executed by the original defendants no.1, 2, 6 and 7 and the award passed by the Deputy Registrar of Co-operative Societies, Panaji, in Case no. ABN/DRCS/31/95 on 26/12/1995 and the auction proceedings dated 2/4/1998 and the Certificate of Sale dated 29/10/1998 are null and void abi-initio. By the impugned Judgment and Decree it is directed that the Sub Registrar of Registration should cancel the registration of the Deed of Mortgage dated 4/2/1991. This appeal is filed by (i) The Chief Executive Officer, Goa State Co-operative Bank Ltd. and (ii) the Branch Manager, Goa State Co- operative Bank Ltd., who were the original defendants no.6 and 7.

2. The relevant facts necessary for consideration of the controversy in issue are as follows:

The property known as “Avanal” situated at Colvale, Benaulim bearing survey no.276/1 admeasuring 27,800 square metres belonging to Shri Yeshwant Babulo N