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2012 Supreme(Mad) 1284

S.VIMALA, R.BANUMATHI
Chandru – Appellant
Versus
K. Nagarajan – Respondent


Advocates appeared:
For the Appellants:Mr. R. Veeramani, Advocate.
For the Respondents: R1 to R4, Mr. S. Lakshminarayanan (Legal Aid), R5, Mr. S. Pandurangan

Judgment

R. BANUMATHI, J.

1. Being aggrieved by the dismissal of their suit for partition – O.S.No.37 of 2006, unsuccessful plaintiffs have preferred this appeal. For convenience, the parties are referred as per their array in the Original Suit.

2. The plaintiffs and defendants 3 and 4 are the sons and daughters of defendants 1 and 2. Defendants 1 and 2 have been doing textile business in the name and style of M/s.Sri Ashtalakshmi Tex at Door No.59, Pulikuthi main road, Gugai, Salem. Each of defendants 1 and 2 are the sole proprietors of the said proprietary concerns. Both defendants 1 and 2 have availed financial assistance for their business concerns for which defendants 1 and 2 have mortgaged their properties viz., suit item Nos. 2 to 7 in favour of 5th defendant Bank by creating an equitable mortgage in respect of the said properties. By virtue of creation of equitable mortgage by defendants 1 and 2, 5th defendant Bank is having secured interest in suit Item Nos.2 to 7 properties. The loan accounts of defendants 1 and 2 were not regular as per their repayment schedule stipulated in the loan and security documents. Amount of Rs.10,62,402.31 and Rs.12,87,875.75ps were stated to b






















































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