Court : DRAT Madras
Decided on : Jan-06-2006
Reported in : II(2006)BC135
..... nor guarantors for the money advanced by the respondent bank. as such, they claim that they are not liable to make any pre-deposit as required under the act.4. section 21 of the act, deals with deposit of the amount of debt due on filing an appeal, which reads as under, "where an appeal is preferred by any person from ..... to a bank or a financial institution or a consortium of banks or financial institutions, such persons alone could be directed to make pre-deposit as required under section 21 of the act, to entertain the appeal. the appellants have neither borrowed any amount nor they stood as guarantors and as such, no amount is due from them payable to ..... borrower or debtor. as such, the appellants, who are only purchasers of the mortgaged property, are not liable to comply with the pre-deposit is required under section 21 of the act. whether the appellants are bona fide purchasers or not is a subject matter of the appeal. as such i am satisfied that the appellants cannot be directed to .....
Tag this Judgment!Court : DRAT Madras
Decided on : Mar-06-2006
Reported in : III(2006)BC76
..... daruka and ors. air (37) 1950 sc 272, wherein it was held, "a mortgage by deposit of title deeds is a form of mortgage recognised by section 58(f), t.p. act, which provides that it may be effected in certain towns (including calcutta) by a person "delivering to his creditor or his agent documents of title to ..... . in support of this submission, the appellants relied upon the case of h.g.nanjappa v. mfc industries (p) ltd. wherein it was held that, "under section 17 of the registration act, by clause (b) thereof, non-testamentary instruments which purport or operate to create, declare, assign, limit or extinguish, whether vested or contingent of the value of ..... been, if it had arisen after such establishment within the jurisdiction of such tribunal, shall stand transferred on that date to such tribunal." that apart, section 19 of the rddb&fi act, 1993, states that, "that bank or financial institution may make an application to the tribunal to recover any debt from any person within the local .....
Tag this Judgment!Court : DRAT Madras
Decided on : Jul-05-2006
Reported in : I(2007)BC62
..... and the said facts arc denied by the defendant nos. 8 to 10 and. therefore, the burden to prove lies on the shoulders of the appellant only under section 101 of the evidence act. when the appellant makes his claim based on the documents said to have been executed by the defendant nos. 8 to 10 and the same was denied by ..... and that they have not gone to the bank and executed the documents, the burden lies upon them to prove the same under section 103 of the evidence act and which they have not done. section 103 of the evidence act deals with, "the burden of proof as to any particular fact lies on that person who wishes the court to believe in its ..... to the appellant-dank as contended by them. as such, the burden of proof as set out in section 103 of the evidence act would not be applicable. but on the other hand, the burden of proof as envisaged under section 101 of the evidence act is applicable, which states."whoever desires any court to give judgment as to any legal right or liability .....
Tag this Judgment!Court : DRAT Madras
Decided on : Aug-03-2006
Reported in : IV(2006)BC215
..... properties for sale. i am of the view that the respondents have validly created equitable mortgage by fl deposit of title deeds, as required under section 58(f) of the transfer of property act, 1882 and the oa is also based upon the mortgage. there is nothing to indicate that the related documents, for having created a mortgage by ..... due diligence, but on the contrary, the appellant contends that there was no need to produce those documents and the said contention is not sustainable. section 58(f) of the transfer of property act clearly states that, mortgage by deposit of title deeds could be created only by delivery of documents of title of immovable property to a creditor ..... /created by the defendants in the oa is an equitable mortgage by deposit of title deeds and the requisites for such a deposit is covered under section 58(f) of the transfer of property act, 1882, which states where a person in any of the following towns, namely, the towns of calcutta. madras and bombay, and in any other .....
Tag this Judgment!Court : DRAT Madras
Decided on : Sep-08-2006
Reported in : I(2007)BC128
..... 1999-1-l.w.739, wherein the hon'ble supreme court held that, "it is axiomatic that condonation of delay is a matter of discretion of the court. section 5 of the limitation act does not say that such discretion can be exercised only if the delay is within a certain limit. length of delay is no matter, acceptability of the explanation .....
Tag this Judgment!