K.CHANDRADAS NADAR, A.RADHA, SANTHAMMA THOMAS
UNION BANK OF INDIA – Appellant
Versus
MUHAMMED YOUSUF. C. A. – Respondent
ORDER
Mr. K. Chandradas Nadar, Judicial Member - Appellant was the opposite party in CC.No.257/2012 in the CDRF, Alappuzha. The first complainant had availed trade loan from the opposite party to run his hardware shop on the strength of an equitable mortgage created over an extent of 2.26 ares of property in Aryad South Village in Ambalappuzha Taluk. It is alleged in the complaint that when the appellant/opposite party threatened the first complainant with coercive measures including proceedings under SARFAESI Act, he somehow arranged funds and repaid the loan. The further allegation is that even after the loan was settled the opposite party failed to release the title deed deposited for the purpose of creating equitable mortgage. It is alleged that the second complainant had availed education loan for his studies and against norms, the opposite party had insisted for surety for the loan transaction. The second complainant has completed his studies. But the opposite party is making illegal demands. They had obtained sixty signed cheque leaves from the complainants which is not envisaged in the scheme. The second complainant is ready and willing to repay the loan when he gets suitabl
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.