K.C. SABU Vs. CHIEF JUDICIAL MAGISTRATE

JUDGEMENT

(1.) The petitioner is before this Court challenging Exts.P7 and P8 orders passed by the 1st respondent-Chief Judicial Magistrate, Kottayam.

(2.) The petitioner states that the 3rd respondent, who is a close friend of the petitioner, has been running a financial institution along with respondents 4 and 5. The 3rd respondent is the husband of the 4th respondent and the 5th respondent is the sister-in-law of the 3rd respondent. The 3rd respondent has been borrowing money for business, from the petitioner.

(3.) In May, 2011, the 3rd respondent wanted ?35 lakhs urgently and suggested the petitioner to deposit title deed of the property of the petitioner with the 2nd respondent-Bank to secure a loan. Later, the 3rd respondent wanted the petitioner to execute a conveyance deed with respect to the first plot in favour of respondents 3 to 5 so as to mortgage the same. The 3rd respondent assured the petitioner that the property will be reconveyed to the petitioner. Therefore, the petitioner executed Ext.P1 sale deed dtd. 24/5/2011 in favour of the 3rd respondent. The Bank advanced ?45 lakhs on 5/3/2011 to the respondents.