S.VIMALA, R.BANUMATHI
Sri Chandra and S. Chitra – Appellant
Versus
K. Nagarajan – Respondent
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
Dhulabhai v. State of Madhya Pradesh
I.T.C. Limited Vs. Debts Recovery Appellate Tribunal and Others
Industrial Investment Bank of India Ltd. Vs. Marshal's Power and Telecom (I) Ltd. and Another
Mardia Chemicals Ltd. Vs. Union of India (UOI) and Others Etc. Etc.
Nahar Industrial Enterprises Ltd. Vs. Hong Kong and Shanghai Banking Corporation
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.