rpa IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.2730 OF 2008 NOTICE OF MOTION NO.2730 OF 2008 NOTICE OF MOTION NO.2730 OF 2008 IN IN IN SUIT NO. 2780 OF 2006 SUIT NO. 2780 OF 2006 SUIT NO. 2780 OF 2006 M/s.Housing Development Finance Corporation Ltd. .. Plaintiffs V/s. Shilratna Balram Jagrap & Ors. ..Respondents Ms.Asha Nayak i/b.Mr.Mahesh Menon and Co.for the Plaintiffs. None for Respondents. CORAM : R.Y.GANOO, J. CORAM : R.Y.GANOO, J. CORAM : R.Y.GANOO, J. DATED : 30TH SEPTEMBER, 2008 DATED : 30TH SEPTEMBER, 2008 DATED : 30TH SEPTEMBER, 2008 P.C. P.C. P.C. . The Plaintiffs have instituted the suit against Defendant No.1 as the Borrower and against Defendant Nos.2 and 3 as the Guarantors. Defendant No.4 is the person in whose favour the agreement for sale to be entered in to Defendant No.1. The Plaintiffs have taken out this Motion so as to have the flat sold which is presently with the Court Receiver. In the Plaint the categorical case is made out by the Plaintiffs that a mortgage has been executed by Defendant No.1 by deposit of title deeds. ( 2 ) It was open for the Plaintiffs to proceed for recovery of the amount on the basis of the mortgage deed. The Plaintiffs have instituted this suit for recovery of an amount. 2. The Plaintiffs now want that the suit flat should be sold pending the suit. The learned Advocate for the Plaintiffs submitted that the bank wants to realise its money for satisfaction of the loan. 3. I am not inclined to accept this submission because the suit is pending. It is quite possible that the Plaintiffs may loose the suit and in such a case Defendant No.1 who is the owner of the flat will face financial losses. Since the Receiver is already appointed in respect of the suit flat and since the learned Advocate for the Plaintiffs has accepted that the Receiver has already taken possession of the suit flat, as of today there is no immediate threat to the security of the Plaintiffs as such prayer for disposal of the suit flat being a security cannot be granted. Hence, the motion will have to be dismissed. Hence, the order : ( 3 ) :: O R D E R :: :: O R D E R :: :: O R D E R :: i. The motion is dismissed. ii. The suit to go in the usual course. (R.Y.GANOO,J.) (R.Y.GANOO,J.) (R.Y.GANOO,J.)