SAMIR K SHAH Vs. UNION OF INDIA

JUDGEMENT

(1.) Leave granted.

(2.) The appellant is a judgment-debtor. In terms of a consent decree of 26- 12- 2002, the appellant was to make payment of Rs. 445 lakhs to the respondent-Bank within three months in satisfaction of the Bank's claim. In default of such payment, the appellant would be liable to make payment of the entire amount of Rs. 4,06,00,549.92 together with interest at 16.75% per annum.

(3.) The appellant did not pay in terms of the settlement. A recovery certificate was issued on 27th August, 2003 at the instance of the respondent against the appellants for attachment and sale of two plots of land being cts Nos. 256 and 257 belonging to the appellant. Both the plots were valued by the Government approved valuer at Rs. 13,82,61,132.50. The two plots were depicted in a sketch map annexed to the report. CTS No. 256 consists of a bungalow and was valued at Rs. 1,68,66,347.50. CTS No. 257 which is adjacent to and lies to the south of CTS No. 256 and consists of a factory building was valued at Rs. 12,13,94,8007 -. According to this report, the access to both the plots was from Suren Road which lies to the north of cts No. 256. A proclamation of sale was published and the date of sale of the two plots was fixed on 29th March, 2004.