K.VISWANATHA NAIDU Vs. STATE OF ANDHRA PRADESH

JUDGEMENT

(1.) Heard Smt. Nimmagadda Revathi, learned counsel for the petitioners and the learned Assistant Government Pleader for Registration and Stamps for the respondents.

(2.) Being aggrieved by the proceedings of the 3rd respondent refusing to register the document submitted by the petitioner for creation of collateral security in favour of the Banks in respect of landed properties in an extent of Ac.6.00 cents in Sy.No.1689, Kodur (West) Revenue Village, Kodur Mandal of Annamayya District, the instant Writ Petition is filed.

(3.) It is contended by the petitioner that he is the absolute owner of the subject property purchased by him for valid sale consideration in 2005 vide document bearing No.1116/2005, 1117/2005, 1118/2005. In recognition of his title and possession over the subject property the Revenue authorities mutated the name of the petitioner in Revenue records and also issued pattadar passbooks and title deeds in favour of the petitioner. The petitioner, who is a promoter of a company namely M/s. Sri Varsha Food Products India Limited, had approached the bank for loan by offering the subject landed property as collateral security. The mortgage deed thereafter was sought to be registered at the time of the renewal of loan. In pursuance thereof, the petitioner has sought for registration of the memorandum of deposit of title deeds. However, the 3rd respondent vide proceedings, dtd. 16/12/2019 had refused to mortgage the same informing the petitioner that the erstwhile composite High Court vide order in CRP.No.1147 of 2012 granted injunction and since the property is covered under the said injunction orders, the registration of the mortgage deed was refused.