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State Bank of Travancore & Ors. vs. R. Sobhana & Ors. – (SC)

36.00 3.60

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Code of Civil Procedure, 1908–Sec. 65–Default in payment of loan–Auction of mortgaged property–Amount of loan was Rs. 15,000/-, however, the property was sold in auction for the consideration of Rs. ten lakh–Respondent claiming the excess amount–Held, respondents have no right in claiming any share in the proceed of sale as the bank became owner of same after issuance of sale certificate in it’s favour–However, in view of facts that the respondents are suffering from acute illness and sever financial distress, amount of Rs. five lakh be paid to them.