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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. establishing an equitable mortgage. (Para 1 , 2 , 6) |
| 2. claim of exclusive ownership contested. (Para 3 , 5 , 10) |
| 3. defenses raised against the mortgage validity. (Para 4 , 12) |
| 4. importance of documented security in financing. (Para 11 , 15) |
| 5. final confirmation of mortgage validity. (Para 14 , 17) |
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 Act”, for short) by the Appellant.
3. The facts in brief can be encapsulated
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