Return of recovered article

saroja (Querist) 22 January 2014 This query is : Resolved
Mr X is a ornament dealer and given his ornament to Mr B to sell the same, Mr B could not able to sell but pledged the same for 50 % of market value, in addition to to pledged money, B also put some more money of his own and made part payment to Mr X.

Now Mr X filed criminal case against B alleging that B is failed to make entire payment nor able to return the ornaments, as per said complaint police recovered the ornaments from banker.

Now, to whom gold has to handed over ?
1. If given to X , B will loose money (paid by him on his own source) and Banker will loose their money
2. If given to B, both X and Banker will loose their money
3. If given to Banker, X & Y will loose

Here, X created valid mortgage to Banker

Please advice

Regards,
Saroja

Follow Query

Report Abuse

ajay sethi (Expert) 22 January 2014
B had no business in mortgaging the gold . he was only given ornaments to sell . he did not return ornaments nor paid full consideration .X should be returned ornaments and X should return part consideration paid by B .

saroja (Querist) 22 January 2014
Thanks, now B role is clear , what about banker ? they lent huge money

ajay sethi (Expert) 22 January 2014
banker can recover money lent to B . since B was not owner of gold he had no business to mortgage the ornaments without owner consent