| Citation(s) |
|---|
| 2015 SLG 1189 2015 SLD 1189 2015 PLJ 464 |
Supreme Court of Pakistan
C.A. No. 1366 of 2003 and C.A. No. 732 of 2009, decision &hearing Dated: 24.11.2014. (On appeal against the judgmentDated 17.10.2000, passed by the Lahore High Court, Lahore,in W.P. No. 3305 of 1995).
GULZAR AHMED, JUSTICE, MUSHIR ALAM, JUSTICE
Kh. Muhammad Farooq, Sr. ASC and Mr. Shahid Hamid, Sr. ASC for Appellants (in C.A. Nos. 1366/2003 and 732/2009).Ex-parte for
Respondent No. 1-3, 8 & 9 (in C.A. No. 1366/2003).Kh. Muhammad Farooq, Sr. ASC for
Respondent No. 2 (in C.A. No. 732/2009).N
C.A. No. 1366 of 2003 and C.A. No. 732 of 2009, decision &hearing Dated: 24.11.2014. (On appeal against the judgmentDated 17.10.2000, passed by the Lahore High Court, Lahore,in W.P. No. 3305 of 1995).
GULZAR AHMED, JUSTICE, MUSHIR ALAM, JUSTICE
Kh. Muhammad Farooq, Sr. ASC and Mr. Shahid Hamid, Sr. ASC for Appellants (in C.A. Nos. 1366/2003 and 732/2009).Ex-parte for
Respondent No. 1-3, 8 & 9 (in C.A. No. 1366/2003).Kh. Muhammad Farooq, Sr. ASC for
Respondent No. 2 (in C.A. No. 732/2009).N
NATIONAL BANK OF PAKISTAN THROUGH ITS ATTORNEY AND ANOTHERVS PARADISE TRADING COMPANY & OTHERS
Law:
Section:
Transfer of Property Act, 1882 (IV of 1882)-- ----S. 58--Mortgage--Memorandum of deposit of title deeds--Loss of original title deeds--Suit for recovery under Banking Tribunals Ordinance--Attachment of sale of property to be without lawful authority--No legal effect--No equitabl mortgage can be created without delivery of original title documents--Question of--Whether by delivering along with memorandum of deposit of title deeds, certified copies of title deeds will create equitable mortgage of property--Modes of mortgage of immovable property--Validity--No equitable mortgage could be found on a forged document of title nor on entries in record of right or jamabandi nor on basis of receipts and maps of property--Even allotment letter has not been considered as a document of title for making an equitable mortgage by deposit of title deeds--Where copy of relinquishment deed was accepted as a document of title for creation of an equitable mortgage--Agreement for sale of an immovable property and also list of properties and subsequent agreement and delivery of title documents was considered to be sufficient document of title for creation of an equitable mortgage for that intention of parties was found to be that of creating security by way of an equitable mortgage--No element of gross negligence on part of bank and equitable mortgage thus was found to be valid--Where there was no evidence of title documents having been lost or no good reason was assigned for not depositing original title documents, copies of title documents were not accepted to be one on basis of which equitable mortgage could be created--Documents were sufficient for appellant to have accepted assurance of respondent of original sale-deed being lost and not in her possession and as when same is found, it will be deposited with appellant--Possible for appellant to probe for ascertaining truth of fact of original sale-deed being lost--To our mind, that could not be practically possible. Transfer of Property Act, 1882 (IV of 1882)-- ----S. 58--Banking Tribunals Ordinance, 1984, S. 6--Mortgage--Memorandum of deposit of title deeds--Ingredients necessary for creation of equitable mortgage--Existing…