Document Fragment View
Fragment Information
Showing contexts for: zoom developers in Brajesh Kasliwal Son Of Shri Suresh ... vs Union Of India And Ors on 29 September, 2020Matching Fragments
5] Respondent No.4 is the owner of the property admeasuring 2.18 acres situated at No.7, Manoramaganj, A. B. Road, Indore, bearing Khasra Nos.168 and 169 (New Nos.306 & 307 of village Palasia Thana, Indore) (briefly referred to hereinafter as "the property in question"). It is stated that though Respondent No.4 was the owner of the property in question, Respondent No.2 was in possession of the said property on the strength of a lease deed.
6] On 15.04.2005, Respondent No.4 mortgaged the said property in question to Union Bank of India, Respondent No.1, in order to avail certain credit facilities for Zoom Developers Private Limited and Zoom Vallabh Steel Limited. However, the aforesaid two entities failed to repay the loans availed of under the credit facilities. It is stated that the actual area of the property in question is 1,15,425 sq.ft. out of which 1,09,754 sq.ft. was mortgaged to Respondent No.1.