Amit D 15 December 2024
When a loan agreement is based on a property as collateral and the agreement is not registered, Does Order XXXIX Rule 1(c) allow a temporary injunction on the property? Or is it only applicable when there is dispute directly related to the property.
This is a VERY IMPORTANT question for me. Would truly appreciate a proper answer.
Thank you very much.
T. Kalaiselvan, Advocate (Advocate) 15 December 2024
If the property has been given as collateral security then in the money recovery suit you can file a petition seeking attachment before judgement to attach the property given as collateral for the purpose of security towards loan amount.
Advocate Bhartesh goyal (advocate) 16 December 2024
File suit for recovery of money along with petition for attachment of property u/ order 38 rule 5 CPC.provision of order 39 rule 1&2 CPC would not apply in your matter.
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