TMI Blog2013 (4) TMI 566X X X X Extracts X X X X X X X X Extracts X X X X ..... ents that the appellant is not mortgagee and rather one M/s. 3i Infotech Trusteeship Services Limited is mortgagee and one M/s. Bhartiya Hotel is the mortgagor. we think that the direction given by the learned Trial Judge at the instance of the appellant cannot be deleted. we do not find any reason to grant any relief on this appeal. - A.P.O.No.132 of 2012 C.P.13 of 2009 - - - Dated:- 19-7-2012 - K. J. SENGUPTA, AND ASIM KUMAR MONDAL, JJ. This appeal has been preferred with the leave of the Court against the same judgment and order of the learned Company Judge dated 20.1.2012 passed in the aforesaid company application. The above appellant was not a party to the proceedings and they have been able to satisfy prima facie at the time ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 296,346.43 which comprised of the invoked Letter of Credit amount of Rs.2,200,271,866.33 and outstanding SBLC commission of Rs.34,024,480.10. No payment was made either by the borrower nor by the corporate guarantor. Thus for recovery of the alleged outstanding dues the appellant seeks to enforce the said security namely two mortgaged properties. According to the appellant it is unable to do so, in view of observation and direction given by the impugned judgment and order which affects the right of the appellant. Mr. Jayanta Mitra, learned Senior Advocate with Mr. Bimal Chatterjee, Senior Advocate, for the appellant contends that the decisive observation made and direction given by the learned Trial Judge by the same impugned judgment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng affected by the order and judgment of the learned Trial Judge. Mr. Pratap Chatterjee, learned Senior Advocate appearing for the Madura, respondent No.2 herein submits on fact in this case that admittedly the present management of Dunlop India Limited in violation of the order of restriction under Section 22A of SICA sold and transferred four immovable properties of the company leaving company s creditors, employees and workmen in the lurch. Sale of all these four properties of the company were void ab initio, non est in the eye of law and nullity. The suspicious circumstances surrounding the transaction which prompted the appellant to advance money in respect of two of those immovable properties display total lack of bona fides and wan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ture of the mortgage dated September 26, 2008 in respect of property at 132A, Dr. Annie Besant Road, Worli, Mumbai intending to furnish collateral security for SBLCF. Similar way by an indenture dated 26th September 2008 Dunlop Property Private Limited mortgaged in favour of the said 3i Infotech Trusteeship Services Limited mortgagee in respect of immovable property at Ambattur, Chennai in the State of Tamil Nadu collateral security for stand by letter of credit facilities. We have read these two documents annexed to the supplementary affidavit it appears that recorded mortgagee is purporting to act as a security trustee and acting on behalf of the ICICI Bank Limited. We are of the view that whatever may be the status of the said recorded m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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