1986 (10) TMI 30

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....t of certain accounts opened by them in the Connaught Place branch of the petitioner-bank. Since respondent No. 6 had created an equitable mortgage in favour of the petitioner bank by deposit of title deeds of immovable property belonging to her and situated at S-72, Greater Kailash, New Delhi, the bank filed a suit against respondents Nos. 5 and 6 for realisation of the bank's dues by sale of thi....

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.... 4 addressed a letter to the petitioner-bank stating therein that a huge demand of income-tax was outstanding against respondent No. 5 and, therefore, the property bearing No. S-72, Greater Kailash, New Delhi, was attached on July 8, 1973, as per Income-tax Certificate Proceedings Rules and that the sale proclamation of the said property had been drawn up and an auction sale had been fixed for Dec....

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....who is a secured creditor had a first charge over this property because this property was mortgaged to the petitioner and it was further submitted that, in any event, the Tax Recovery Officer had wrongly held that the property belonged to respondent No. 5 and respondent No. 6 was only a benamidar. Learned counsel further submitted that, even otherwise, if it is held that the property was actually ....

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....y from the assessee and no one else. Learned counsel, however, stated that the Tax Recovery Officer could investigate and find out whether the property belonged to respondent No. 5 or 6 and if he found that in fact it belonged to respondent No. 5 and respondent No. 6 was only a benamidar, he could attach the property. I do not think that for deciding the present petition it is necessary for me to....