SUBHASH AGARWAL Vs. ABHISHEK ANDLEY

JUDGEMENT

(1.) Respondent No.1/Decree Holder/Plaintiff - Mr. Abhishek Andley (hereinafter, "Plaintiff") had filed a suit for recovery of a sum of Rs.14,68,979/- against Petitioner/Judgment Debtor/Defendant No.1 - Mr. Subhash Agarwal (hereinafter, "Defendant No.1"), Respondent No.3/Judgment Debtor/Defendant No.3 - Mr. D.K. Agarwal (hereinafter, "Defendant No.3") and Respondent No.2/Judgment Debtor/Defendant No.2 - their partnership firm, i.e., M/s Precision Castings (hereinafter, "Defendant No.2").

(2.) The suit was filed in March, 2010. Vide judgment and decree dated 21st November, 2014, the suit was decreed for a sum of Rs.14,64,367/-, along with pre-suit and pendente-lite interest at 12% p.a. The decree has not been challenged and has attained finality.

(3.) In 2015, execution proceedings were filed by the Plaintiff and warrants of attachment were issued in respect of the movable properties of the three Defendants. In the meantime, Defendant No.1 filed an application, even prior to the passing of the decree, wherein he sought to be declared an insolvent. The said petition continues to remain pending. On the basis of the insolvency suit, an application was moved by Defendant No.1 for adjournment sine die of the execution proceedings against him.