J KIMATRAI AND CO Vs. BANK OF INDIA

JUDGEMENT

(1.) HEARD Mr. K. S. Cooper with Mr. U. R. Timble, learned Counsel for petitioner and Mr. M. S. Usgaonkar with Mr. S. S. Kantak, learned Counsel for the respondent.

(2.) THIS writ petition has been filed under Articles 14, 19 and 226 of the Constitution of India, by a firm, who had mortgaged their property at Bombay with the respondent-nationalised Bank, under a mortgage by deposit of title-deeds, praying for a writ of Mandamus directing the respondent to forthwith hand over to the petitioner all the title-deeds deposited with them as per Exh. `b attached to the petition, along with the costs of the petition and other reliefs. Notice before admission was given to the respondent and an affidavit-in-reply was filed on their behalf. According to the petitioners, they had taken several loans and facilities including overdraft facilities from the respondents and were operating the aforesaid accounts at Kalbadevi branch, Bombay. They had created an equitable mortgage by depositing title-deeds in favour of and with the respondents through their Panjim Branch. The title-deeds were lying with the Panjim Branch of the respondents-Bank. The petition was, therefore, filed at Panjim-Goa.

(3.) THE petitioners contended that they had availed of the following facilities from the respondent-Bank :-