S MANGAYARKARASI Vs. I C I C I BANK LTD

JUDGEMENT

(1.) THE respondent applicant Bank filed IA-2/2002 seeking to restrain the defendants from selling, transferring, disposing of, creating third party right or in any manner dealing with the shares and immovable properties as have come to their shares and allotment in pursuance of Conciliation order dated 29.9.2001 issued in CMP No. 31/2001 and the Tribunal allowed the same and passed an order of injunction on 28.2.2002. THE appeal is directed to set aside that order.

(2.) Counsel for the appellant submitted that the property involved in the IA for which interim injunction was sought for are not the mortgaged properties to the Bank and those properties are the Trust properties, the appellant is only a trustee and the beneficiaries are different persons and the appellant has no manner or right over these properties and as it is a Trust property the injunction granted in respect of these properties are to be vacated and the order passed by the PO. DRT, is liable to be set aside.

(3.) COUNSEL for appellant submits thill all these properties arc the Trust properties and the appellant has, no manner of right over these properties and injunction granted is not sustainable. In respect of Item 6 of the properly, its an immovable property. It is seen from the settlement arrived at in the Lok Adalat that the 2nd defendant and the other parly shall retain one-half share of undivided share of land out of the total extent of land measuring 31,320 sq.ft., morefully described in Schedule 6 to the Family Settlement. So it is evident in Item 6 of the property that the 2nd defendant has got right over the property. The appellant contends that except her capacity to be the Trustee she has no manner of right over the property.