R. Murugan vs Authorised Officer, Indian Overseas Bank (IOB)

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2017 Supreme(Mad) 3834

S.MANIKUMAR, M.GOVINDARAJ
R. Murugan – Appellant
Versus
Authorised Officer, Indian Overseas Bank (IOB) – Respondent

Advocates Appeared:
For the Petitioner: Mr. A. Kalaivanan, Advocat
For the Respondent:Mrs. Ananda Gomathy, Advocate

ORDER :

S. Manikumar, J.

1. M/s. Sri Dhivyasowmya Paper Boards has availed loan of Rs.215 Lakhs from Indian Overseas Bank, Thiruchengode Branch by offering the undermentioned prime and collateral securities.

Sl. No.	Nature of Security (Mortgage/Hypothecation)	Particulars of securities
1.	Prime Security	Machinery for term loans Stocks and book debts for cash credit
2.	Collateral security - Mortgage of land and house property	I. Factory land - 19.98 acres and building thereon of 10100 sq.ft. - at SF No.123/3, 123, 125/2,4, Lathivadi Village, Tiruchengode, Namakkal Dist in the name of the firm. The details are:
		1. S.No.123/3 - 4.71 acres
		2. S.No.124 - 9.52 acres with a well and a building
		3. S.No.125/4 - 1.99 acres
		4. S.No.125/2 - 3.76 acres.
		II. Residential property - 3920 sq.ft. of land (0.09 cents) with a building bearing Door No.Old.8/1 and new No.313/8/1 at SF No.346/9 and RSF No.346/9A, Ward G, Block 37,

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2017 Supreme(Mad) 3834

S.MANIKUMAR, M.GOVINDARAJR. Murugan – AppellantVersusAuthorised Officer, Indian Overseas Bank (IOB) – Respondent

S.MANIKUMAR, M.GOVINDARAJ
R. Murugan – Appellant
Versus
Authorised Officer, Indian Overseas Bank (IOB) – Respondent