CANARA BANK Vs. JETTI SAMBA SIVA RAO

JUDGEMENT

(1.) This civil miscellaneous appeal is filed under Order 43 Rule 1 of CPC by the 2nd defendant in the suit in O.S.No.169 of 2011 pending on the file of the learned III-Additional District Judge, Prakasam at Ongole, aggrieved by order dated 06.02.2013, passed in I.A.No.6 of 2013.

(2.) Respondents 1 to 3 herein are plaintiffs in the aforesaid suit. They have filed the said suit for declaration of their title to the plaint schedule property and for consequential relief of permanent injunction restraining the defendants (i.e. respondent No.4 and the appellant herein) from interfering with their possession and enjoyment of schedule property either by means of alienations or making the subject matter of said property towards recovery of loans said to have been advanced to the Managing partner of Venkata Ramana Fruit Processing Unit.

(3.) The appellant-Bank is a Nationalised Bank constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970. It is having several branches all over India and one such branch is in Khammam District of Andhra Pradesh. M/s.Venkata Ramana Fruit Processing Unit, a partnership Firm, approached the appellant-Bank in the year 2010, for financial assistance for its business, by offering its properties as primary security and offered the property of defendant No.1 (respondent No.4 herein) as collateral security, apart from other properties. The 1st defendant's son is a partner in the aforesaid partnership Firm. The 1st defendant submitted original registered sale deed, dated 01.07.1984, bearing document No.2556 of 1984, registered in the office of Sub-registrar, Ongole, to the Bank and the Bank obtained report on 23.12.2010 through its panel Advocate regarding the clear and marketable title of the 1st defendant to the schedule property and it has also given a paper publication, dated 22.01.2011, indicating to accept such property as collateral security by way of mortgage to the loan sanctioned to M/s.Venkata Ramana Fruit Processing Unit, and as there were no objections, equitable mortgage was accepted by deposit of title deed bearing No.2556 of 1984, dated 01.07.1984, and the memorandum of deposit of title deeds was registered with Sub-Registrar, Ongole on 25.01.2011, vide document No.679 of 2011.