GUJARAT INDUSTRIAL INVESTMENT CORPN. LTD. Vs. SHRI KIRITBHAI MANIBHAI PATEL

JUDGEMENT

(1.) Tehilram Girdharidas v. Longin De Mello, 18 Bom. L.R. 587 It cannot be gainsaid that hypothecation which is a mortgage without possession and therefore, sort of a pledge is recognised in India. In the case of Tehilram Girdharidas v. Longin De Mello, 18 Bom. L.R. 587, Justice Beaman held that the rights which the plaintiff acquired over the property in 1913 remained wholly unaffected by the illusory partnership created by the hypothecator with a third party and that the hypothecatee was, therefore, entitled to bring the whole of the property to sale. The learned judge further' observed as follows:

(2.) This exposition of law stands good even this day and therefore, this third party can certainly bring it to the notice of the Court that it has got a sort of a charge over the suit property sought to be attached and sold.