BIMLA DEVI Vs. PARVESH KUMAR

JUDGEMENT

(1.) The defendants have filed the regular second appeal against the judgements passed by both the Courts below while decreeing the suit filed by the plaintiff declaring him to be the owner of the mortgaged suit property and hence, entitled to decree for possession thereof. It will be noted here that the plaintiff/respondent is a mortgagee, whereas the defendants/appellants are mortgagors. In other words, the mortgagee has been declared to be the owner of the mortgaged property and consequently, held entitled to possession thereof.

(2.) In the considered view of this Court, the following question of law arises for determination:

(3.) In a nutshell, the facts of the case are that a shop-cumresidential building, constructed on a plot measuring 92.5 square yards having two floors, was mortgaged by registered mortgage deed dated 17.07.2003 for a sum of Rs. 3,50,000/-. The defendant/mortgagors agreed to repay the mortgaged money along with interest at the rate of 2% per month upto 17.07.2005 and get the property redeemed. In case, the mortgagors failed to redeem by paying the mortgaged money with interest upto 16.07.2005 i.e. within two years, the mortgagee would become owner of the property mortgaged.