EDELWEISS ASSET RECONSTRUCTION LIMITED Vs. JAHAAN SUJEET SHAH

JUDGEMENT

(1.) Revisionary jurisdiction of this Court is invoked by the Applicant under Sec. 115 of the Code of Civil Procedure, 1908 (the Code) for challenging order dtd. 1/2/2021 passed by 18th Joint Civil Judge, Senior Division, Pune, on Applications at Exhibits-36 and 45 seeking rejection of plaint under Order VII Rule 11 of the Code.

(2.) Applicant is an Asset Reconstruction Company. Olive Tree Trading Pvt. Ltd. has availed loan facility of Rs.5,00,63,007.00 from Edelweiss Retail Finance Limited. Respondent Nos.3 and 4 are the Directors of the Company. To secure the credit facility, mortgage by way of deposit of title deeds is created by Respondent No.3-Mr. Sujeet Suresh Shah. Since the Company and Respondent Nos.3 and 4 failed to repay the loan, the debt is assigned to the Applicant vide Assignment Agreement dtd. 28/6/2019. It appears that Respondent Nos.3 and 4 have also availed a loan from Janata Sahakari Bank Limited by way of mortgage of another immovable property as security.

(3.) Respondent Nos.1 and 2 are children of Respondent Nos.3 and 4. Respondent Nos.1 and 2 have filed Special Civil Suit No.1509 of 2020 seeking partition of the suit property, which is mortgaged with the Applicant, claiming that the same is a joint family property. They have also sought a declaration in the Suit that the intimation of equitable mortgage dtd. 17/6/2017 created in favour of the Applicant is not binding on the suit property and on their share. They have also sought a declaration that mortgage deed dtd. 2/9/2013 created in favour of Janata Sahakari Bank Limited is also not binding on the suit property as their share. Plaintiffs have also sought the relief of injunction.