BANK OF INDIA Vs. HINDUSTAN SUPER LIGHTS

JUDGEMENT

(1.) The decree holder. Bank of India, had filed this execution petition against the judgment debtors for recovery of the sum of Rs. 2,49,296.96 together with interest @ 9% from 29.10.1976 till realisation. This was pursuant to the compromise decree passed on 17.8.1977, providing for payment of the decretal amount in monthly instalments of Rs. 5,000.00 each. In case of default in payment of any three instalments, the balance decretal amount was recoverable at once.

(2.) The execution petition was filed on 21.5.1980. Appearance was entered on behalf of the judgment debtors by Shri S.P. Moga and Shri P.R. Monga. Warrants of attachment had been issued. Bailable warrants to ensure presence of the judgment debtors were also issued. Initially the warrants of attachment were not effected due to change of residence and of the factory. The proceedings in the execution continued with some payments being made from time-to-time.

(3.) On 15.7.1985, the statement of Shri Narender Kurnar, judgment debtor, was recorded to the effect that he did not own any immovable property and was carrying on business of auto bulbs from his residence. The assets of the judgment debtors in the factory were also attached and sold and the proceeds of Rs. 6,625.00 were deposited. The statement of account filed by the decree holder shows that judgment debtors have paid a total sum of Rs. 1,72,466.75 rupees one lakh seventy two thousand four hundred sixtysix and paise seventy five only) from 22.8.1977 to 26.6.1982 and c.s on September, 1997 a sum of Rs. 3,22,4563.00 was still due.