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1997 DIGILAW 764 (DEL)

SYNDICATE BANK v. SUNDER LAL TANEJA AND SONS

1997-09-11

K.S.GUPTA

body1997
K. S. Gupta, J. ( 1 ) DEFENDANTS have filed this application under Section 151 Civil Procedure Code seeking direction for return of the title deed of property bearing No. 9/60, Punjabi Bagh, New Delhi, by the plaintiff-Bank, on their securing the suit amount or any amount which may be ultimately found due from them. ( 2 ) NEEDLESS to say that the plaintiff-Bank has contested the application by filing reply. ( 3 ) SUBMISSION advanced by Shri Ravinder Sethi appearing for the defendants was that his client is ready to furnish bank guarantee or place FDRs at the disposal of the Court for the suit amount besides giving security for the balance amount for return of the title deed in question by the plaintiff-Bank. Admittedly plaintiff-Bank has filed suit under Order XXXIV Civil Procedure Code against the defendants and para 21 of the prayer clause made in the plaint which is relevant reads as under: ( 4 ) AS is manifest from the said prayer clause, plaintiff-Bank has sought decree for the suit amount etc. against defendants 2 and 3, who are alleged to be partners of defendant No. 1 firm personally and also preliminary decree under Order XXXIV Rule 4 Civil Procedure Code in respect of immovable property No. 9/60, Punjabi Bagh, regarding which equitable mortgage by deposit of title deed was created by the defendants in favour of the plaintiff-Bank at the time of taking of loan. Therefore, in case the title deed is returned to the defendant, no preliminary decree under Order XXXIV Civil Procedure Code can be passed in respect of aforesaid property No. 9/60 if the suit of the plaintiff-Bank is ultimately decreed by the Court. That apart, under Rule 5 of Order XXXIV Civil Procedure Code title deed of the mortgaged property can be returned only after a preliminary decree is passed and payment of all the amounts due from the defendants under sub-rule (1) of Rule 4 is made to the plaintiff. No order for return of title deed in question can be made at this stage to the detriment of the interests of the Bank. ( 5 ) APPLICATION is, therefore, dismissed.