Naveen Kumar Agarwal challenged an order for property possession, claiming third-party status and readiness to redeem debt under Section 91 of the Transfer of Property Act. The Bench permitted notice by post and directed parties to maintain status quo on the property.
Notice issued in two modes; status quo on property ordered till next listing.
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Appeal Dy. No. 780/2022 Date: 13.10.2022
Naveen Kumar Agarwal Vs. HDB Financial Services Ltd. Present: Shri Ashok Pandey, counsel for the appellants, Heard the learned counsel for the appellant.
Learned counsel for the appellant submits that the property in question was purchased by the appellant after creation of mortgage with the respondent-FI. The appellant is neither borrower nor guarantor and is a third party. It is further submitted that Rs. 50.00 lacs is lying with the respondent-FI and the appellant is ready to deposit the remaining amount and is claiming redemption of the property in question under section 91 of the Transfer of Property Act. It is also submitted that the respondents are likely to take over the possession of the property in question on 14.10.2022 per order dated 22.09.2022, copy of which is annexed as Annexure- to the urgency application.
Issue notice to the respondents by two modes i.e. Registered Post with A.D. and Speed Post. Steps to be taken by the appellant within 10 days. Affidavit of service along with tracking report be filed by the next date.
Considering the facts and circumstances of the case and the fact that the appellant is ready to deposit the remaining amount of debt due, the parties concerned are directed to maintain the status quo qua the property in question, as it exists today, till next date of listing.
List this case on 04.01.2023 for service.
Justice R. D. Khare
Chairperson
VN Giri
2 issues framed by the court
Whether the appellant, claiming to be a third party ready to deposit the debt amount, is entitled to redemption under section 91 of the Transfer of Property Act
Whether the parties should maintain status quo on the mortgaged property pending service
1 provisions across 1 enactments
Naveen Kumar Agarwal
HDB Financial Services Ltd.
R. D. Khare
VN Giri
As recorded by the court registry
7 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
