The applicant paid the principal sum of Rs. 2,00,000 with accumulated interest to the Official Liquidator. The Court orders the discharge and redemption of the mortgage over the applicant's property.
Direction to the Official Liquidator to issue a discharge certificate relating to the redemption of the mortgage.
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1
COMP.A. No.478 of 2018 in C.P Nos.233 to 238 of 1999
SENTHILKUMAR RAMAMOORTHY, J.
By order dated 13.09.2019, this Court had recorded the undertaking
of the applicant that he is willing to repay the principal sum of Rs.2,00,000/with interest thereon at 6% per annum calculated up to 15.09.2019. At the hearing today, the learned counsel for the applicant filed a memo dated 27.09.2019 recording that he calculated the amount due with the specified interest of 6% per annum and the said aggregate amount of Rs.3,79,000/(principal + interest at 6% per annum) was paid to the Official Liquidator by a demand draft dated 18.09.2019 drawn on HDFC Bank. He has also enclosed a
copy of the demand draft with the memo. The Deputy Official Liquidator also confirms the receipt of the demand draft for a sum of Rs.3,79,000/-.
complied with the payment obligations as per the orders of this Court.
original title documents relating to the applicant's immovable property are in
2
SENTHILKUMAR RAMAMOORTHY, J.
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the custody of the Official Liquidator by way of mortgage. However, the Deputy Official Liquidator submitted that he has to verify as to whether the said original title deeds are in his possession. In any event, in view of the payment of the amounts due by the applicant, the applicant is entitled to a full discharge and redemption of the mortgage. The Official Liquidator is directed to issue the necessary discharge certificate relating to the redemption and take such further incidental action as may be necessary in this regard.
2 issues framed by the court
Whether the applicant is entitled to discharge and redemption of the mortgage upon full payment of the principal sum and interest.
Whether the Official Liquidator is directed to issue a discharge certificate relating to the redemption.
applicants
Official Liquidator
SENTHILKUMAR RAMAMOORTHY
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
