SARASU VARGHEESE Vs. JAMMU AND KASHMIR BANK LTD

JUDGEMENT

(1.) Instant writ petition has been filed under Article 226 of the Constitution of India, for a writ of certiorari, calling for the records of the order dated 13.11.2017 passed by the Debts Recovery Appellate Tribunal, Chennai in RA No.28 of 2017 and to quash the same.

(2.) Short facts leading to the filing of the writ petition are that the petitioner purchased a property measuring an extent of 2 grounds and 200 sq.ft. in Plot No.2489 in AK-107, 10th Main Road, Anna Nagar, Chennai - 600 040, jointly with her mother Mrs.Kunjoonamma (Deceased), from Mr.M.M.Mathew, vide registered Sale Deed dated 18.10.1989. Sale consideration of the subject property was paid by Mr.K.Vargheese, husband of the petitioner.

(3.) During the year 1997, Mr.J.R.Jaya Gopinath of M/s.Magum Business Services Limited, approached the mother of the petitioner and misused her trust, due to her old age and took the original title deeds pertaining to the subject property to obtain a loan for M/s.Magnum Business Services Limited offering the subject property, as security. Mother of the petitioner, as a gesture of good will, agreed to offer the subject property as security, even without consideration, to enable Mr.Jaya Gopinath to avail loan. The petitioner was not informed about the handing over of the title deeds of the subject property by the mother of the petitioner to Mr.J.R.Jaya Gopinath, since during the relevant time, the petitioner was living in USA along with her husband. The transaction is not binding on the petitioner even though she is a co-owner of the subject property.