Drat Madras Court April 2007 Judgments
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Indian Bank Vs. City Hospitals and anr.
Court: DRAT Madras
Decided on: Apr-23-2007
Reported in: IV(2007)BC61
1. The OA filed by the appellant/applicant Bank before the DRT-II at Chennai, was dismissed against defendants 4 and 5 by its order dated 27.9.2006. Aggrieved by the same, this appeal has been filed.I have heard the learned Advocates for the appellant and the respondents.2.The principal question involved in this appeal is whether the Power of Attorney executed by the Managing Director of the 4th defendant company to give any guarantee or provide any security without a special resolution of the company is valid under law.The appellant's case is that the defendants 3 to 5 through their power agent the 2nd defendant in the OA, deposited the title deeds relating to their immovable properties on 26.8.1990, with the appellant's Anna Nagar Branch, Madras, with an intention to create equitable mortgage.The defendants 3 to 5 have also executed Memorandum of deposit of title deeds on 28.8.1990, confirming the deposit of title deeds on 26.8.1990, and the creation of equitable mortgage and, there...
Bob Housing Finance Ltd. Vs. Saeed Ur Rahman
Court: DRAT Madras
Decided on: Apr-11-2007
Reported in: IV(2007)BC47
1. Aggrieved by the order dated 3.11.2006, passed in ASA-57/2005, by the DRT, Bangalore, this appeal has been filed.I have heard the learned Advocates for the appellant and the respondent.2. The issue raised in this appeal is whether the mortgage executed/created by a person, who has no title to the property, acquires title to the property subsequently, would validate the mortgage.3. The learned Advocate for the appellant states that the loan was sanctioned on 24.2.1998, and mortgage was created on 26.3.1998. On the date of the mortgage, though there was no sale deed in favour of the respondent in respect of the mortgaged property, he had entered into an agreement with the real owner of the property to purchase the property and also purchased the property subsequently, and therefore, the mortgage executed by the defendant is valid and the said fact was not properly considered and appreciated by the Tribunal. The Tribunal is of the view that on the date of execution of the mortgage, th...
Central Bank of India Vs. South Indian Bank Ltd. and ors.
Court: DRAT Madras
Decided on: Apr-09-2007
Reported in: IV(2007)BC49
1. By consent of both the parties, both the appeals were heard together and a common order has been passed.2. The appellant filed Applications IA-509 & 510/2004, seeking permission of the DRT to lead oral evidence of his own witness to substantiate its defence and the same came to be dismissed by order dated 15.11.2006. Aggrieved by the same, this appeal has been filed.3. The learned Advocate for the appellant has taken me through the affidavit, which was filed before the DRT, wherein it is stated that the then Manager of the appellant-Bank and some other officer have committed certain frauds, which made the appellant-Bank to incur certain losses also. That only in the said circumstances, the appellant has chosen to file applications to examine the appellant-Bank's witness.4. The learned Advocate for the 1st respondent Bank viz. South Indian Bank, contends that there is no provision either in the Act or in the rules framed under the RDDB & FI Act, 1993, enabling the person to ...
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