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DEBT RECOVERY APPELLATE TRIBUNAL
Mr Ashok Menon, Chairperson
Geetaben Nareshbhai Shah – Appellant
Versus
Mashreq Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. final ruling stresses validity of mortgage in favor of the bank. (Para 1 , 2 , 8 , 17) |
| 2. appellant claims exclusive ownership over the mortgaged property. (Para 3 , 4 , 7) |
| 3. arguments raised challenge the validity of the mortgage and the bank's actions. (Para 10 , 11 , 12) |
| 4. court's finding affirms existence of equitable mortgage despite challenges. (Para 13 , 14 , 16) |
Order
Appeal No. 176 of 2008 is filed by the 7th defendant in Original Application (O.A.) No. 280 of 1997 on the files of the Debts Recovery Tribunal-I, Ahmedabad (D.R.T.) who is aggrieved by the judgment and order dated 25.08.2008 allowing the O.A. and issuing a Recovery Certificate to realise the amount from out of the secured properties under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (“RDDB & FI Act”, for short).
2. Appeal No. 123 of 2012 is filed by the very same Appellant challenging the order dated 27.04.2012 dismissing Securitisation Application (S.A.) No. 3 of 2012 on the files of the aforesaid D.R.T. filed under the provisions of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (“SARFAESI Ac
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