CITIBANK Vs. INDO AMERICAN ELECTRICALS LIMITED

JUDGEMENT

(1.) The question that arises in this execution for determination, is whether the Delhi High Court can execute the present decree for the recovery of Rs. 13,00,000.00 along with interest and costs by attachment and sale of the factory building of the judgment-debtor situated at Durgapur, West Bengal. Notice of the application was issued to the Judgment-debtor but the report came on the registered postal envelop sent that the judgment-debtor had refused service.

(2.) The ground on which the decree-holder seeks execution of the decree from Delhi is that the defendant/judgment, debtor had during . the course of the main suit while seeking permission to defend the suit under order 37, rule of the Code of Civil Procedure, furnished security of its immovable properties, namely, the colony land and the colony buildings thereon as per schedule annexed thereto situated in Durgapur, West Bengal, for due discharge of the decretal amount which be awarded against it. The security bond was submitted before the Registrar of this High Court, and accordingly accepted.

(3.) The decree-holder pleads that since the security bond was submitted in the Court at Delhi, this Court is competent to proceed on its basis and enforce the liability arising thereunder. No transfer certificate, it is urged, need be sent to the Court at Durgapur for proceeding against the property so made subject-matter of the security bond. In support, reliance has been primarily placed upon an unreported decision of learned D.K.. Kapur, J, dated 20.2. 1979, in Execution No. 94 of 1978 (Citibank N.A. New Delhi v. Rainbow Refractories (P) Ltd.).