M/S SHRIRAM HOUSING FINANCE LTD. Vs. DISTRICT COLLECTOR, THE DISTRICT MAGISTRATE, KANCHEEPURAM COLLECTORATE, KANCHEEPURAM DISTRICT

JUDGEMENT

(1.) Heard the Learned Counsel for the Petitioner and the Learned Special Government Pleader for the Respondent.

(2.) No counter is filed on behalf of the Respondent.

(3.) According to the Petitioner, the Borrowers, V.Satish and V.Amudha approached the Petitioner for availing House Loan to purchase House / Flat and that the sum of Rs. 25,18,937/- [Rupees Twenty Five Lakhs Eighteen Thousand Nine Hundrend and Thirty Seven only] was sanctioned as Loan, as per Loan Agreement No.SHLHCHNI0000415 towards the purchase of an immovable property. As per the terms and conditions of the loan, the borrowers had to pay the loan pursuant to the sanction of loan and in continuation of the process of loan, the borrowers had deposited all the original deeds and title deeds and related documents pertaining to the schedule property with an intention to create Equitable Mortgage to secure the repayment of Home Equity Loan and further that, the borrowers had executed and registered a mortgage by way of deposit of title deeds to and in favour of the Petitioner. As a matter of fact, the said mortgage deed was registered [as Document No.4424 of 2014] on the file of SRO, Poonamallee.