Ghanshyam had borrowed 50,00000 under a registered mortgage deed, dated 14/02/18 executed in favour of late...

 

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Ghanshyam had borrowed 50,00000 under a registered mortgage deed, dated 14/02/18 executed in favour of late Harsham Jogi and his sons (S1, S2 and 53 in the present case). It is the case of Ganshyam that that several payments were made towards the debt and that they were endorsed on the mortgage bond. The interest stipulated in the mortgage bond was 10 per cent per annum, and the balance due as of now was 20 lakhs. Meanwhile, pending the negotiation between the sons, the second son issued a notice that all of them were entitled to a 1/3 th share each in the amount due under the mortgage bond. The claim was subsequently challenged by the eldest son, who claimed that being the eldest son he is entitled to1/2 of the balance amount. Ghanshyam is willing to discharge the balance amount but is not in a position to know the real claimants or their shares in the sum of Rs. 20 lakhs in question. BASED ON THE ABOVE HYPOTHETICAL AND ANSWER THE FOLLOWING QUESTIONS. THE MARKS ARE RELATIVE TO THE CORRESPONDING QUESTION. 5 MARKS 1. In the situation mentioned above what would you suggest is the best remedy for Ganshyam? 1 Mark 2. Is there any lis in the present case? If so what is the cause of action and who are the parties to it. 2 Marks 3. In the suit that follows, will Ghanshyam be entitled to any remedy? Ghanshyam had borrowed 50,00000 under a registered mortgage deed, dated 14/02/18 executed in favour of late Harsham Jogi and his sons (S1, S2 and 53 in the present case). It is the case of Ganshyam that that several payments were made towards the debt and that they were endorsed on the mortgage bond. The interest stipulated in the mortgage bond was 10 per cent per annum, and the balance due as of now was 20 lakhs. Meanwhile, pending the negotiation between the sons, the second son issued a notice that all of them were entitled to a 1/3 th share each in the amount due under the mortgage bond. The claim was subsequently challenged by the eldest son, who claimed that being the eldest son he is entitled to1/2 of the balance amount. Ghanshyam is willing to discharge the balance amount but is not in a position to know the real claimants or their shares in the sum of Rs. 20 lakhs in question. BASED ON THE ABOVE HYPOTHETICAL AND ANSWER THE FOLLOWING QUESTIONS. THE MARKS ARE RELATIVE TO THE CORRESPONDING QUESTION. 5 MARKS 1. In the situation mentioned above what would you suggest is the best remedy for Ganshyam? 1 Mark 2. Is there any lis in the present case? If so what is the cause of action and who are the parties to it. 2 Marks 3. In the suit that follows, will Ghanshyam be entitled to any remedy?

Answer rating: 100% (QA)

1 Given the situation the best remedy for Ghanshyam would be to deposit the balance amount of Rs 20 ... View the full answer