KODALIL KINATTUKARA RAGHAVAN NAIR Vs. BEENA ANIL

JUDGEMENT

(1.) This appeal is preferred against an order allowing an application under Order 38 Rule 8 of the Code of Civil Procedure.

(2.) The appellant filed O.S. No. 46 of 2011 on the file of the Court of the Subordinate Judge, Koyilandy for recovery of a sum of Rs. 4,62,423/- with interest and costs from the second respondent. The case of the appellant in the suit is that the second respondent, who is none other than his brother had availed a loan from the Kerala State Co-operative Bank; that the appellant had mortgaged an item of property, in addition to the mortgage created by the second respondent in respect of a property owned by him to secure the repayment of the said loan, and that when proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 was initiated by the said Bank against the secured assets, the appellant had to liquidate the outstanding liability in the loan account amounting to Rs. 4,62,423/- in installments between 29/10/2005 and 16/4/2008 and that the second respondent who is bound to reimburse the said amount to the appellant is not reimbursing the same despite various requests made by him.

(3.) Along with the suit, the appellant filed I.A. No. 366 of 2011, and obtained attachment over the property mortgaged by the second respondent to the Bank.