9911796707
TMI Blog2004 (3) TMI 443X X X X Extracts X X X X X X X X Extracts X X X X ..... y 28, 2004. Vide interim order passed in C.M. No. 984 of 2004, notice was issued for March 24, 2004, and it was directed that the petitioner be not dispossessed. Further, that the petitioner shall not create any third party right or part with possession of the property. The present application C.M. No. 1802 of 2004 has been moved by the respondent/bank, seeking modification of order dated Januar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w transpires that the property in question had been given as security and a mortgage created by deposit of title deeds in the year 1995 by the Guarantor-Neeru Seem under the Securitisation and Recons-truction of Financial Assets and Enforcement of Security Interest Act, 2002, for the borrower M/s. Neeru Graphics Pvt. Ltd. ( ii ) The petitioner s case before the court was that the equitable mortg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assed is that, the bank may proceed to take possession but shall not create third party rights till the disposal of the challenge to the vires of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 4. In the present case, a petition had earlier been filed by the petitioner and his son-in-law, challenging the vires of the Act. In the said wr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The petitioner while purchasing the property claims to have been cheated by the seller inasmuch as it was claimed that the original deeds were lost while they were in fact deposited with the bank, creating an equitable mortgage. In this situation, while the petitioner is claiming to have been cheated and has lodged FIR under section 420 read with section 120B of the Indian Penal Code, prima facie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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