GUN MALLA RAJGARAHIA Vs. CANARA BANK

JUDGEMENT

(1.) The plaintiff has instituted the present suit against the defendants Canara Bank (defendant No. 1 and M/s. Venus Paper Mills Limited (defendant No. 2) seeking for passing of a decree for redemption of mortgage of property bearing No. B-42, Maharani Bagh, New Delhi.

(2.) The plaintiff has averred in the plaint that in consideration of grant of certain credit facilities in favour of M/s. Venus Paper Mills Limited, the defendant No. 2, the plaintiff created the mortgage of her property bearing No. B^2, Maharani Bagh, New Delhi by way of deposit of original title deeds. It is further averred that the aforesaid mortgage is only to secure the liability of defendant No. 2-borrower only upto a limit of Rs. 24 lacs. The plaintiff in her plaint has sought for grant of the following reliefs:

(3.) The defendant No. 1 entered appearance in the suit and resisted the claim of the plaintiff by contending, inter alia, that the plaintiff is not entitled to redemption of mortgaged property unless she pays the entire liability of the borrower inclusive of the principal amount, interest, cost and other charges thereon and that the property in question cannot be redeemed merely upon payment of a sum of Rs. 24 lacs.