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2007 Supreme(Jhk) 560

D.G.R.PATNAIK
Union Bank of India – Appellant
Versus
Annapurna Udyog – Respondent


Advocates appeared
M/s. A. K. Mehta, Ashutosh Anand and Rahul Kumar, for Appellants; M/s. M. M. Prasad and A. K. Srivastava for Respondents.

JUDGMENT :- This appeal filed by the plaintiff-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 deeds. The d




















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