MUKESH KOTHARI Vs. STATE BANK OF INDIA, BELGAUM AND OTHERS
LAWS(BOM)-2017-3-166
HIGH COURT OF BOMBAY
Decided on March 10,2017

Mukesh Kothari Appellant
VERSUS
STATE BANK OF INDIA, BELGAUM AND OTHERS Respondents

JUDGEMENT

R.M.BORDE, J. - (1.) Heard.
(2.) Rule. With the consent of the parties, Petition is taken up for final disposal at the admission stage.
(3.) The Petitioner is objecting to the decision rendered by the Debts Recovery Appellate Tribunal at Mumbai in Appeal No. 117 of 2009 decided on 16th June 2014 confirming the decision rendered by the Debts Recovery Tribunal - III at Mumbai in S. A. No. 35 of 2007 decided on 16th April 2009. The Petitioner herein is purchaser of Flat No. 101, First Floor, Rajendra Kripa Cooperative Housing Society Ltd; Manish Darshan, Bidkanti Nagar, near Jain Temple, J. B. Nagar, Andheri (East), Mumbai - 59. The flat was purchased by Petitioner from Respondent No. 2 through a Saledeed dated 18th November 2006 for a sale consideration of Rs. 22.00 Lacs. According to Petitioner, the Sale Agreement was duly registered on 18th November 2006. The property has been purchased by Petitioner by obtaining housing loan from Respondent No. 3 - Allahabad Bank, in whose favour Petitioner is stated to have created Equitable mortgage in respect of the said flat. The Petitioner claims that Respondent No. 1 - State Bank of India has taken steps under Section 13(4) of the SARFAESI Act and issued a possession notice on 12th April 2007 on the Petitioner. The Petitioner claims that he is neither a Borrower nor a Guarantor in respect of the loan availed by Respondent No. 2 from Respondent No. 1 - Bank.;


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