HASTHIMAL AND SONS Vs. P TEJ RAJ SHARMA

JUDGEMENT

(1.) This appeal has been filed against the impugned judgment of the Karnataka High Court dated 12.2.2001 in C.R.P. No. 2020/2000.

(2.) Heard learned counsel for the parties and perused the record.

(3.) This appeal has arisen out of a suit for redemption of the mortgage and for possession of the mortgaged property. The owner of the properties was one Jagadish, who mortgaged the property with the defendant-respondent under a registered mortgage deed dated 19.3.1980 with possession by creating an usufructuary mortgage. It appears that after the mortgage deed, a partial release deed was signed between the parties on 21.9.1981 by which Jagadish had undertaken to give the first option to purchase to the mortgagee. On demand for redemption, the defendant refused and hence the suit was filed by the plaintiff, who had purchased the property from Jagadish.