ANAND AUTOMOBILES Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This appeal has been preferred against the judgment dated 24.4.2004 passed by the Sub-Judge-I, Bermo at Tenughat in connection with Title Mortgage Suit No. 14 of 2001 whereby and whereunder the suit has been decreed against the appellant.

(2.) The suit was filed by the plaintiff-respondent-Bank, which is a body corporate constituted U/s 3 of the State Bank of India Act, 1955 having its central office at Madam Cama Road, Nariman Point Mumbai and its local head office at Judge Court Road, Patna and branch office, Chandrapura, P.O. Chandrapura, District-Bokaro and the plaintiff-respondent has been carrying out its banking business. The appellant-defendant, who happens to be the proprietor of M/s Anand Auto Mobiles at Chandrapura approached the plaintiff-respondent-Bank for grant of loan and accordingly cash credit facility was provided which stood extended up-to Rs. 800,000/-. The appellant-defendant had executed necessary document and also deposited title deed of the schedule property to create equitable mortgage with the respondent-Bank. When the appellant failed to repay the loan amount, notices were served making demand therein but the same stood unattended and therefore, Title Motgage Suit No. 14 of 2001 was filed by the respondent-Bank.

(3.) The appellant duly appeared and filed Written Statement admitting dues and execution of documents. The learned Sub-Judge-I, Bemo at Tenughat after adjudication passed the impugned judgment and decree in favour of the respondent-Bank.