BANSI LAL BHAT
S. L. Telecom – Appellant
Versus
Jammu and Kashmir Bank Ltd. – Respondent
Bansi Lal Bhat, J.
1. Petitioners are aggrieved of order dated 22-8-2015 passed by the learned Additional District Judge (Bank Cases), Jammu on an application under O. 38, Rule 5 read with O. 39, Rr. 1 and 2 of CPC filed in suit captioned Jammu and Kashmir Bank Ltd. v. M/s. S.L. Telecom and others, by virtue whereof the trial Court recorded its satisfaction about circumstances existing to pass an order of attachment of hypothecate and mortgaged properties. It directed to furnish security equal to the value of the suit of respondent (hereinafter referred as 'plaintiff-Bank') before attachment and till security is furnished the order of attachment shall not be given effect to. Petitioners (hereinafter referred to as 'defendants') have also been restrained from alienating transferring or creating any third party interest in respect of the properties mortgaged by the defendants with the plaintiff-Bank as security for repayment of loan obtained by defendant No. 1 from the plaintiff-Bank.
2. It is averred in the petition that defendant No.1 had availed Cash Credit Limit for her business from the plaintiff-Bank to the tune of Rs.3.50 crores. Defendants 1 to 6 stood as mortgage's. Doc
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