clarifying that subrogation
served as an equitable assignment enabling an Insurer to step into the shoes of the Insured for
recovery purposes after settling ... Claim -
"26. Subrogation, as an equitable assignment, is inherent, incidental and collateral to a contract of
indemnity, which occurs automatically, when the insurer settles
Suretyship
(1950 Edn. Page 205) which reads thus :
"Subrogation is equitable assignment. The right comes into existence when
the surety becomes obligated, and this
wherein the following observation is relied upon:
"The equitable assignment of the rights and remedies of the
assured in favour of the insurer
implied
party
stands transferred to and vested in the insurer and such equitable assignment
of rights and remedies of the insured in favour of the insurer ... party stands
transferred to and vested in the insurer and such equitable
assignment of rights and remedies of the insured in favour of
the insurer
executed an agreement with OP. 1 society on 7.6.88 for assigning property with
equitable mortgage by depositing of
titled deeds in favour ... also to abide by terms and conditions stipulated in the assignment deed. Thus,
Op1 society executed a registered assignment
deed on 4098/98 with
petitioner kept landed property as equitable mortgage. As additional security, 2 LIC policies have also been assigned. The husband of the petitioner stood as guarantor
bank for creating an equitable mortgage. The documents deposited by him with the bank are Janmam Assignment Deed No. 2060/95 of the SRO Feroke ... property along with certified copies of the lost documents, to create an equitable mortgage. After that, on several occasions the respondent requested for return
assigned for condonation of delay
are the procedural delays that usually occur with governmental
organizations for no one seriously pursuing the matter. The
reasonings assigned ... Court/adjudicating authority can extend the period of limitation, on
equitable grounds. That apart, the expression "sufficient cause"
cannot be construed liberally
accordingly, the complainant as well as the original allottee applied for transfer/assignment of the said allotment in favour of the complainant, which was accordingly ... Opposite Parties. It was further stated that the payment plan was equitably changed from time linked payment plan to development linked payment plan vide letter
after depositing his
original title deed by way of equitable mortgage. Complainant
repaid a substantial amount towards repayment of loan by way
of quarterly instalments ... till the year 2004.
11 (ii). We find that as per "assignment Deed' (document at page
nos.106 to 111) which
