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Showing contexts for: constructive knowledge in Asian Hotels North Ltd vs Yes Bank Ltd & Ors. on 7 October, 2024Matching Fragments
20. A party requesting a relief stemming out of a claim is required to exercise due diligence and it is a requirement which cannot be dispensed with. The term ―due diligence‖ determines the scope of a party's constructive knowledge, claim and is very critical to the outcome of the suit.
21. In the given facts, there is a clear lack of ―due diligence‖ and the mistake committed certainly does not come within the preview of a typographical error. The term ―typographical error‖ is defined as a mistake made in the printed/typed material during a printing/typing process. The term includes errors due to mechanical failure or slips of the hand or finger, but usually excludes errors of ignorance. Therefore, the act of neglecting to perform an action which one has an obligation to do cannot be called as a typographical error. As a consequence the plea of typographical error cannot be entertained in this regard since the situation is of lack of due diligence wherein such amendment is impliedly barred under the Code.
22. 1t is further submitted by Shri Rohatgi, learned Senior Advocate that challenge to mortgage/charges now is barred by limitation, delay and laches. This is because the first mortgage was created on the premises on 23-9-1982. By the amendment applications, the principal relief sought to be added by the respondents is to assail any and all charges/mortgages on the premises created since 1982 in favour of any person. It is submitted that first mortgage on the premises was registered on 23-9-1982 with the RoC as per Section 125 of the Companies Act, 1956. Subsequent charges/mortgages were also registered with the RoC. It is submitted that as per Section 126 of the Companies Act, 1956 and Section 80 of the 2013 Act, the respondents are deemed to have knowledge and constructive notice of the said mortgage/charges and there exists a I.A. 10671/2023, 8068/2023, 9173/2023 & 2858/2024 in CS(COMM) 128/2022 Signing Date:08.10.2024 18:53:58 presumption in law that the respondents had knowledge of the aforesaid charges.