STATE BANK OF INDIA Vs. SUB REGISTRAR

JUDGEMENT

(1.) The petitioner, a nationalised Bank, has filed this writ petition for a direction to the 1st respondent Sub Registrar and the 2nd respondent Village Officer to delete the entry of attachment in the encumbrance register in respect of its secured asset.

(2.) One Razia Fazal availed a housing loan from the petitioner Bank by creating equitable mortgage on 23/2/2011 by deposit of title deed in respect of the property having an extent of 1.39 Ares, with a building numbered as CC XLVIII/1823, comprised in Sy. No.200/4 of Edappally South Village. The borrower defaulted payment of installments and the Bank initiated proceedings under the SARFAESI Act and the mortgaged property was sold in auction. Ext.P5 is the sale certificate dtd. 29/7/2023.

(3.) When the petitioner applied for encumbrance certificate with respect to the mortgaged property, it was found that there are certain attachments over the property pursuant to orders of courts. The petitioner submits that from Ext.P6 encumbrance certificate, it can be seen that all the attachments referred to therein obtained by respondents 3 to 8 are subsequent to the creation of the equitable mortgage by the borrower in favour of the petitioner. The petitioner, therefore, contends that the attachments at the instance of respondents 3 to 8 cannot affect the right of the petitioner to sell the property under the provisions of the SARFAESI Act and that the borrower has lost the right to redeem the property as per the provisions of the SARFAESI Act.