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2012 Supreme(Mad) 4953

S.VIMALA, R.BANUMATHI
Sri Chandra and S. Chitra – Appellant
Versus
K. Nagarajan – Respondent


Advocates Appeared:
For the Appellant : R. Veeramani.
For the Respondent:S. Lakshminarayanan, Advocate, S. Pandurangan, Advocate.

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. The Plaintiffs and Defendants 3 & 4 are the sons and daughters of Defendants 1 & 2. Defendants 1 & 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 & 2 are the sole proprietors of the said proprietary concerns. Both Defendants 1 & 2 have availed financial assistance for their business concerns for which Defendants 1 & 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 & 2, 5th Defendant-Bank is having secured interest in Suit Item Nos. 2 to 7 properties. The loan accounts of Defendants 1 & 2 were not regular as per their repayment schedule stipulated in the loan and security documents. Amount of Rs. 10,62,402.31 & Rs. 12,87,875.75ps were stated to be due from the




















































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