Some time in the financial year 2002 2003, the 9th respondent i.e. the Orissa State Finance Corporation hereinafter referred to as OSFC sanctioned a term loan of Rs.
By the impugned judgment herein, the writ petition was allowed, hence the appeal.
The value of the said property was estimated at about Rs.
The appellant herein and OSFC companytested the writ petition.
As the borrower did number make the repayments in terms of the agreement between OSFC and the borrower, the OSFC attempted to seize the truck which was also hypothecated to the OSFC.
As the same was number traceable, the OSFC proceeded against the mortgaged property.
5,26,500/ for purchase of a TATA truck in favour of the 6th respondent who is wife of the 7th respondent.
13033 of 2009, one of the respondents therein who is the purchaser of the property in an auction held under Section 29 of the State Financial Corporations Act, 1951 for short the Act preferred the instant appeal.
The said loan transaction is secured by a mortgage of certain piece of land by the father in law of the 6th respondent and father of the 7th respondent since died .
Challenging the seizure and sale of the mortgage property, the writ petition came to be filed by the wife and children of the mortgagor.
2, 7 and 8 herein to companylect the residue amount of Rs.2,86,460/ from the Corporation.
On 31.3.2009, possession of the mortgaged property was handed over to the appellant.
10,08,000/ .
Chelameswar, J. Leave granted.
Aggrieved by the judgment dated 6.12.2010 of the High Court of Orissa in Writ Petition C No.
On 10.6.2009, the OSFC after appropriating the amounts due to it intimated the three sons of the mortgagor respondent Nos.
