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2007 Supreme(Jhk) 559

D.G.R.PATNAIK
UNION BANK OF INDIA – Appellant
Versus
ANNAPURNA UDYOG – Respondent


Advocates Appeared:
A.K.MEHTA, A.K.SRIVASTAVA, Ashutosh Anand, M.M.Prasad, RAHUL KUMAR

Judgment :

( 1 ) THIS appeal filed by the plain tiff-appellant is directed against the judgment and corresponding decree dated 26-3-1997 and 9-4-1998 passed in Title (Mortgage) Suit No, 30 of 1983, whereby the suit filed by the plaintiff-appellant against the defendant-respondents for decree for a sum of Rs. 5,71,915/- along with interest thereon as well as for preliminary mortgage decree in respect of properties mentioned in Schedule to the plaint, against the defendant Nos, 4 and 5 for recovery and realization of the aforesaid amount and for other reliefs, was dismissed,

( 2 ) THE case of the plaintiff is that the defendant No. 1 being a partnership firm represented by defendant Nos. 2 and 3 was extended a term loan facility to the extent of rs. 1. 83 lakh by the plaintiff-Bank for the purpose of setting up their business. The term loan was sanctioned by the bank vide letter dated 26-3-1974. The defendant had further applied for a cash credit facility to the tune of Rs. 30. 000/- (rupees thirty thousand) and by way of security, an equitable mortgage in respect of the landed property on which the factory is situated, was created in favour of the plaintiff-bank by depositing title d













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