Valdity of decree with register deed
Syed Faisal
(Querist) 23 April 2017
This query is : Resolved
The co-opertive bank in maharshtra has got a decree against surety under 101 mcs act but after carful examination of documents it found that , the bank sanction three loan first in 8-8-2010 for 48 lac where they execute all the necessary documents inculding promissory note , agreement , consent letter and the bank has excuted register mortgage deed of surety ,
2)same borrower again applied 55 lac loan for in 16-12-2012 where the first loan outstanding is 31 lac where the bank has used same surety but this time they have used the signature of surety which they sign on blank paper for first loan then they excuted promissory note and consent letter without mortgage deed
3) again borrower has applied for 3rd loan in 7-5-2013 for 118 lac again bank has sanction loan with alleged signature of surety without any register mortgage deed
Note
* Bank has created charge over properly for all three loan
* borrower crediter and surety for all three loan are one
* Surety are ready to settle first loan
*) Bank has got decree over surety
Any advice in related to defence in concern matter are helpful.
Dr J C Vashista
(Expert) 24 April 2017
Consult a local lawyer with relevant documents and information for proper appreciation of facts and circumstances of the case, guide and proceed.
Incomplete information can not lead to form and opinion and advise.
P. Venu
(Expert) 24 April 2017
Please post the complete facts.
Kumar Doab
(Expert) 24 April 2017
Agreeing with Dr. J.C.Vashista, Mr. P.Venu.
Apparently the contention of surety is that he/she signed on blank paper for 1st loan only.
But the Bank has succeeded in getting decree on surety.
Local counsel can guide and help you the best.
Ms.Usha Kapoor
(Expert) 25 April 2017
Agree with Vashista ans Venu.Approach your own lawyer.
Rajendra K Goyal
(Expert) 25 April 2017
Bank has decree in its favor hence surety is liable to pay the debt till the decree is reversed otherwise by the competent authority.
Syed Faisal
(Querist) 26 April 2017
Can you refere some citation in above matter.
krishna mohan
(Expert) 28 April 2017
Well advised by experts. But from the given information it is noted that surety has not consented for last two loans. If that is so, surety must have denied when the bank made surety as one of the respondents. Better would be to Challenge the decree within the period through able lawyer on fact of law and evidence if the same was rightly represented before the lower court and over looked.
