LAWS(DLH)-2017-11-280

PUNJAB NATIONAL BANK Vs. MS. BHARTI SEHGAL

Decided On November 02, 2017
PUNJAB NATIONAL BANK Appellant
V/S
Ms. Bharti Sehgal Respondents

JUDGEMENT

(1.) By the present petition filed under Art. 227 of the Constitution of India, the petitioner seeks to impugn the order dated 12.01.2016 passed by the appellate court confirming the interim order passed by the trial court in favour of respondent No. 1 in a suit filed by respondent No. 1. The petitioner was restrained from interfering in the peaceful possession of the plaintiff/respondent No. 1 of the suit property. The plea of the petitioner that the suit is barred under the SARFAESI Act was rejected.

(2.) The brief facts are that respondent No. 1/plaintiff has filed a suit for permanent and mandatory injunction claiming herself to be the sole owner and in possession of the property bearing No. G-338, 2nd Floor, Preet Nagar Cooperative House Building Society, Preet Vihar, Delhi- 110092. It is urged that she purchased the said property from respondent No. 2 through a registered Sale Deed dated 01.02.2010. Immediately after purchase of the said property, the said respondent No. 2 proposed and offered to sell the said suit property to the plaintiff/respondent No. 1 after reconstructing the same.

(3.) The case of the petitioner is that respondent No. 2 is a proprietor of a concern M/s Harshit Enterprises and approached the petitioner bank for sanction of Cash Credit Limit(in short 'the CC Limit') of Rs. 250.00 lacs. The CC Limit was sanctioned and apart from the other documents, respondent No. 2 on 24.12.2009 created an equitable mortgage by deposit of title deeds of immovable property bearing G.338, Preet Vihar, Delhi-110092. On 02.12.2010, the CC Limit for M/s Harshit Enterprises was enhanced from Rs. 250.00 lacs to Rs. 350.00 lacs. The equitable mortgage was duly extended. The account for M/s Harshit Enterprises was closed on 09.05.2014 after adjusting the outstanding dues etc.