RATHINAM Vs. PARKTOWN BENEFIT FUND LTD

JUDGEMENT

(1.) THE plaintiff/applicant has filed the suit for redemption of mortgage, dated 6.9.1995 executed by the plaintiff in favour of the defendant No.1, in respect of the suit schedule mentioned property.

(2.) IT is pleaded case of the plaintiff/applicant that suit property was mortgaged to secure the loan of Rs.20,00,000/- (Rupees twenty lakhs only) received from the respondent No.1 which was payable with 22.2% p.a.

(3.) AGGRIEVED by the action of the defendant No.1 who had brought the property to auction, the plaintiff/applicant filed O.S.No.1880 of 2000 in the VII Asst. City Civil Court, Chennai, seeking relief of mandatory injunction directing the respondent No.1 to render true and proper accounts and for permanent injunction restraining the mortgagee from bringing the property for public auction. The mortgagee appeared in the suit. Though the counsel appearing on behalf of the plaintiff/ applicant did not disclose that the suit was dismissed, it is pointed out by the learned counsel for the defendant/non applicant that the suit was dismissed on 15.11.2002.