GOBIND SINGH Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The instant Regular Second Appeal is directed against the impugned judgment and decree rendered by the learned District Judge, Shimla in Civil Appeal No. 121-S/13 of 2005 of 1.1.2007, whereby it set aside the judgment rendered by the learned Civil Judge (Junior Division), Jubbal, District Shimla H.P in Civil Suit No. 30/1 of 2004 of 30.9.2005.

(2.) The brief facts of the case are that the respondent herein (for short "the plaintiff") filed a suit before the trial Court below with a prayer therein that the appellant herein (for short "the defendant") approached the plaintiff-Bank for advancing to him agriculture loan. The plaintiff- bank advanced a sum of Rs.26,000/- as loan to him alongwith interest at the rate of 14% per annum with yearly rests subject to the charge as may be directed by the Reserve Bank of India. The plaintiff bank accepted the proposal and a sum of Rs.26,000/- was paid to the defendant. The amount was advanced against hypothecation of land as security for repayment of the loan. The defendant failed to repay the amount aforesaid. The balance due against him up to July, 15,2004 comes to Rs. 47,507/-. The land mortgaged by the defendant is comprised in Khata/khatoni No. 82/249 and khasra No. 822, 838 and 841 measuring 0- 55-81 hectors situated in village Saraswatinagar and the mortgage has been mutated in favour of the plaintiff-bank. It is further averred that land aforesaid be put to sale and the sale proceeds raised therefrom be ordered to be paid to the plaintiff-Bank and in case the sale proceeds are found less than the due amount then a personal decree to the extent of 47,507/- be rendered against the defendant alongwith the interest and costs etc.

(3.) The defendant contested the suit and filed written-statement.