JUDGMENT

The petitioner is concerned with the notice issued at Exhibit P7, on the assertion that the petitioner is the person who is in possession of the building existing in the property which is now sought to be taken over by Exhibit P7. The property has been mortgaged by 2nd respondent to the 1st respondent. The 1st respondent-Bank submits that on a valid mortgage obtained from the 2nd respondent, a loan was granted and on default committed proceedings have been initiated for recovery of the loan amounts availed by the respondents 2 & 3.

2. The petitioner's contentions run as follows:

(i) The petitioner was the owner of the property and he had availed of a loan from the District Co-operative Bank by mortgaging the said property. When the loan was existing with the District Co-operative Bank, it is stated that the 2nd respondent approached the petitioner for assistance to avail finance from Tata Finance. In such circumstance, the loan availed of from the Co-operative Bank was closed by the 2nd and 3rd respondents, by paying Rs.7,60,757/- and Ext P1 agreement was executed. Ext P1 which was admittedly executed between the petitioner and the 2nd respondent; agreed to convey the propert