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2006 Supreme(Mad) 1699

FAKKIR MOHAMED IBRAHIM KALIFULLA, P.MURGESEN
Punjab National Bank, Asset Recovery Branch – Appellant
Versus
Commercial Tax Officer II & Another – Respondent


Appearing Advocates: For the Appellant:Sribalaji, M. Sathyanarayanan, Advocates. For the Respondents: R. Janakiramulu, Special Government Pleader.

Judgment :-

P. Murugesen, J.

The unsuccessful appellant is the petitioner in W.P. No.4893 of 2004. The said writ peti­tion was filed by the appellant herein for the issuance of a writ of certiorarified mandamus to call for the entire records relating to the impugned notices dated 26.11.2004 and quash the same and forbear the first respondent or his men from claiming the properties under mort­gage with the appellant Bank.

2. The second respondent was sanctioned the cash credit facility to a sum of Rs.100 lakhs on 9.9.1997 by the Nedungadi Bank. The sec­ond respondent, represented by its directors, had executed a promissory note for Rs.1, 00,00, 000/- on 25.9.1997, promising to re­ pay the loan amount together with interest at the rate of 10.75% over the Bank rate with quarterly interest. The second respondent deposited the title deeds with the Bank on 29.9.1997 in respect of the properties comprised in R.S.Nos.271/2, 271/2B & C, 272, 273/9, 274/1, 274/2, 275/2, 266/2B, 267, 270/2, 265/5 & 270/1, Andipatti Taluk, Shanmugasundaram Village consisting of land and building thereon totally measuring 16.09 acres and created equitable mortgage for repayment of the loan.

3. The Nedungadi Bank



























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