PANNA LAL BHANSALI Vs. AXIS BANK LTD

JUDGEMENT

(1.) THIS appeal is directed against the Judgment dated 06.04.2011, passed by the Civil Judge, No.1, Kamrup, Guwahati in Title Suit No.8 / 2010 and Decree drawn thereon dismissing the said suit on the ground that Court, entrusted to adjudicate such a dispute has no jurisdiction over the same in view of the prohibition, imposed by Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short "the SARFAESI" Act). Being aggrieved by the aforesaid Judgment and Decree, the appellant prefers this appeal on the grounds stated in the memo of appeal.

(2.) THE case of the plaintiff as emerges from the his pleading, in short is that the property which is more particularly described in the schedule A to the plaint was originally owned by defendant No.7. It was subsequently purchased by defendant No.2 to 4. THE defendant No.5, M/S More Divinity, is a firm having its office at Shaktigarh, G. S. Road Gauhati whereas the defendant No.2 to 4, being the natural persons, are the members of the firm stated above. In order to narrate and appreciate the dispute before us well, the property, described in Schedule A, would be referred to as suit property whereas the appellant and respondents in T.S.No. 8/2010 would be described here-in-after as plaintiff and defendants respectively.

(3.) IN course of time, defendant No.2 to 5 also executed another general power of attorney in favour of the defendant No.6 authorizing him to execute a sale deed in respect of the suit property in favour of the plaintiff. IN the mean time, the defendants procured necessary permission from the Guwahati Metropolitan Development Authority (in short "GMDA") for affecting the sale of suit property. During the intervening period, the plaintiff also came to know that the suit property which was leased out to State Bank of INdia, Dispur Branch, was released from the charge, created on it, on repaying all the outstanding dues.