Home Case Index All Cases Indian Laws Indian Laws + HC Indian Laws - 2014 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (1) TMI 1905 - HC - Indian LawsEffects of attachments effected subsequent to the creation of equitable mortgage - Sale of mortgaged property - preponderance of judicial opinion - can attachment be effaced after the property is purchased by another in sale conducted by the Recovery Officer of the Debts Recovery Tribunal? - HELD THAT:- The preponderance of judicial opinion leads to the irresistible conclusion that the sale of the mortgaged property in favour of the petitioner under Ext. P5 sale certificate under the Act is free of all encumbrances. The attachments effected subsequent to the mortgage created in favour of the bank do not affect the title and ownership of the petitioner over the subject property. Such attachments have no impact on the sale conducted under the Act and the same ceases to have any effect or fall to the ground the moment the sale is confirmed in favour of the petitioner. The Sub Registrar and the Village Officer are directed to efface the attachments effected subsequent to the mortgage from the relevant records. Otherwise those attachments would remain as a permanent taboo prejudicially affecting the marketability and title to the property even though they ceased to have any legal efficacy. Petition allowed.
|