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1998 Supreme(Mad) 391

S.S.SUBRAMANI
Ms. Nivedita, represented by mother Ms. Asha Raja Kumar and Others – Appellant
Versus
South Indian Bank Limited, Industrial Finance Branch, Trichy Road, Coimbatore Town and Others – Respondent


Advocates:
R. Yashodh Vardhan, for Petitioners. Joseph, for Respondents.

Judgment :-

This revision is filed under Art.227 of the Constitution of India. An application was filed before the Debts Recovery Tribunal, Chennai, by South Indian Bank Ltd. against five respondents. The 1st respondent is a private limited company. Respondents 3 and 5 are man and wife and respondents 2 and 4 are their sons. For the purpose of giving financial assistance to the company, the 3rd respondent in the O.A., along with respondents 2, 4 and 5 executed mortgages for securing the loan. When default was committed, the application was filed before the Debts Recovery Tribunal, for recovery of an amount of nearly Rs.66 lakhs, with future interest and costs. The said original application is pending consideration before the said Tribunal. While so, an application was also filed by the revision petitioners herein who are the younger children of respondents 4 and 6 herein that the mortgage executed by their father is not for necessity or consideration and the same is without taking into consideration the benefit of the family. According to them, the property offered as security is a joint family property and the mortgage is not binding on them, and their shares are not liable to be p



















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