2017 (12) TMI 1618 - HC - Indian Laws

Recovery of loan - sale of mortgaged property - The petitioner will deposit a sum of Rs. 2.50 lacs with the Bank within three days. Further Rs. 7.50 lacs will be deposited on or before the next date of hearing. The petitioner will pay his half share of the loan amount and other half share may be recovered by selling the property of the other partner. Adjourned to 16.1.2018.

Summary

The High Court of Punjab & Haryana ordered the petitioner to deposit Rs. 2.50 lacs with the Bank within three days and Rs. 7.50 lacs before the next hearing. The land mentioned in the petition is jointly owned and mortgaged with the Bank as security. Adjourned to 16.1.2018 with interim order to continue.