K. SAMBOORNAM Vs. INDIAN BANK, ELUMATHUR BRANCH,

JUDGEMENT

(1.) The matter was listed for final hearing, the learned counsel for the appellant was not present on the earlier occasion. Even today there is no representation on behalf of the appellant.

(2.) This Second Appeal is preferred against the concurrent findings of the Courts below passing preliminary decree against the appellant herein for recovery of money by selling the mortgaged property.

(3.) The plaintiff/respondent herein being a Nationalized bank has advanced loan to the appellant mortgaging the property of the appellant. The loan was advanced on 17.09.1987. Equitable mortgage over the suit property was created on the next day. A letter of deposit on title was obtained. The statement of accounts marked as Ex.A-24 reveals on the date of filing the suit, the appellant owed a sum of Rs.68,000/-. Ex.A-2 -Pro-note dated 15.09.1987 and letter depositing the title deed proves the equitable mortgage created by depositing of title deed by the appellant and due payable by the appellant to the respondent bank.