Petition dismissed as filed on incorrect premise that entire property is sold

K. Chandrasekar Vs Chairman (Madras High Court)

Madras High Court held that petition is dismissed since the same was filed on the premise that bank (recovery officer) has sold entire property (included the one already sold). The said premise is incorrect. Hence, petition dismissed.

Facts- Petitioner availed a term loan of Rs.5,10,000/- on 4.3.1983 from second respondent/bank. On 6.9.1986, the loan was enhanced to Rs.5,52,700/-. Borrowers executed promissory note, agreement of hypothecation, term loan agreement, etc., on 17.9.1986. Borrowers also deposited th

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