SHOKLINGAM KAPPUSWAMI MUDLIYAR Vs. INDIAN BANK

JUDGEMENT

(1.) RULE. The petition is taken up for final hearing and disposal today considering the scope of controversy between the parties. The learned advocates for respondents are directed to waive service.

(2.) THE case of the petitioner is that the petitioner is owner and occupier of Flat no. 114/896 situated on Survey No. 303, t. P. Scheme No. 7, Sarvodaya Nagar, gujarat Housing Board, Khokhra-Mahmedabad, Ahmedabad. The property in question had been purchased by the petitioner from respondent No. 3 under a registered Sale-Deed dated 21. 03. 2004 which was registered with the Registering authority at Serial No. 252. The petitioner has challenged the action of respondent-Bank in the form of proceedings under the securitisation and Reconstruction of Financial assets and Enforcement of Security Interest act, 2002 (the Securitisation Act ).

(3.) THE facts which are not in dispute show that on 07. 05. 1999 respondent No. 3 purchased the property from Gujarat housing Board and a Conveyance Deed was executed. The original title deed which was lodged with the Registering Authority carried deficit Stamp Duty and hence, the deed was not parted with by the registering Authority. Such deficit Stamp duty came to be paid on 23. 11. 2004 by the petitioner.