Punjab & Sind Bank Vs Recovery Officer (DRAT Chennai)
DRAT Chennai held that mortgage created on the basis of copy of the sale deed is not legal. Accordingly, mortgage created in favour of the Punjab and Sind Bank based on copy of the sale deed is held invalid.
Facts- The present appeals are filed against the order passed by the Learned Presiding Officer, DRT-II, Chennai. Notably, the appeal was filed by Appellant Mr. T.N. Rajakumar before Recovery Officer claiming right in item No.1 of description of properties detailed in E-Auction Sale Notice dated 11.03.2015 on the basis that he was the successful bidder in auction held by Punjab and Sind Bank and that the sale was concluded in his favour, Sale Certificate issued, registered, possession delivered and necessary mutation has been effected in revenue records and EB. He also sought for stay of all further proceedings in respect of item No.1 of the property in pursuance of E-auction Sale Notice and Proclamation of Sale dated 11.03.2015. The Recovery Officer, after hearing the parties, dismissed the appeal. As already stated, the order of dismissal was appealed before DRT-II, Chennai, in Appeal No. 25/2015 and that was also ended in dismissal. Against the dismissal of Appeal No. 25/2015, both Punjab and Sind Bank and T.N. Rajakumar filed these Appeals.
