State Bank Of India vs Sat Prakash Sharma & Ors.
2008 Latest Caselaw 2164 Del

R - 26
*      IN THE HIGH COURT OF DELHI AT NEW DELHI

+                       RFA No.452/1995

                        Date of decision: 04th December, 2008
%

       State Bank of India                              ..... Appellant
                         Through : Mr. Virender Singh, Adv.

                   versus

       Sat Prakash Sharma & Ors.                     ..... Respondents
                       Through : None.


CORAM :-
THE HON'BLE MR.JUSTICE PRADEEP NANDRAJOG
THE HON'BLE MR. JUSTICE J.R. MIDHA

1.       Whether Reporters of Local papers may
         be allowed to see the Judgment?

2.       To be referred to the Reporter or not?

3.       Whether the judgment should be
         reported in the Digest?

Pradeep Nandrajog, J. (Oral)

1. The appellant is aggrieved by the denial of prayers B,C&D.

2. We note that the amount claimed by the bank i.e. the

appellant, in sum of Rs.1,98,147.75 has been held to be the

entitlement of the appellant. Prayer for a primary decree to be

passed in terms of Order 34 as also a direction that the

hypothecated vehicle be recovered and sold has been declined by

the learned Trial Judge by noting that PW-1 has not deposed

anything qua said prayers and that relief pertaining thereto could

be sought by taking out execution.

3. We disagree with the reasoning of the learned Trial Judge for

the simple reason, PW-1, the branch manager of the appellant,

deposed to the deposit of the original title deeds by way of an

equitable mortgage pertaining to 10 Biswas of land comprised in

Khasra No.77/20, Village Rithala, Delhi. He also deposed that the

vehicle in respect whereof the loan was availed was hypothecated

with the bank; being Vehicle No.DBP-1544.

4. We accordingly allow the appeal and modify the impugned

judgment and decree dated 17.08.1994. We hold that the

appellant has successfully established that 10 Biswas of land

comprised in Khasra No.77/20, Village Rithala, Delhi was the

subject matter of an equitable mortgage to secure the repayment

of the loan. The suit pertaining to the prayer B is decreed by

directing that, if within 6 months from today, the judgment debtors

do not pay the decretal amount, it shall be open to the appellant to

seek sale of the mortgage property.

5. Pertaining to the hypothecation of the bus in question, we are

doubtful whether the bus would be on road.

6. Be that as it may, we pass a decree directing the defendant

to hand over the possession of the hypothecated bus to the

appellant with a direction that the appellant would sell the bus after

intimating the decree holders the highest bidder available with the

appellant.

7. No costs.

PRADEEP NANDRAJOG, J

J.R. MIDHA, J DECEMBER 04, 2008 aj