which
payments were pending and with respect to which there
was no hypothication in favor of respondents 1 and 2 were ... taken over factory of
the third respondent, those machineries which were already
hypothicated by the third respondent in favour of the
corporation alone were available
There is already an
endorsement to the effect that there exists a hypothication
agreement in favour of TATA Motors Ltd., Branch Calicut ... Registration Certificate of the vehicle and also on noting the
hypothication agreement. There is nothing produced before
petitioners had clandestinely sold the vehicle in
question to third parties, eventhough hypothication was
noticed in the registration certificate. It is further stated
that
supra).
According to him, the vehicle which was subject
matter of the hypothication agreement in which
only the arbitration clause was contained is
repossessed
basis of the
contentions that there is no security other than hypothication of
the vehicle, the respondents insists that the vehicle can be
returned only
mortgaging properties belonging
to the 2nd petitioner and also by creating hypothication of
the stock in trade of the business. Consequent to default
committed
petitioner, he was the owner of the said vehicle which
was under hypothication with respondent No.7. It is the
case of the petitioner that
petitioner on payment
of the above said amount, retaining the hypothication and
on the petitioner making an additional undertaking in the
form of a Bond
different periods. According to
the petitioner, the vehicles in question were under
hypothication to the 2nd respondent Bank and consequent to
filing
