V.P. PAVITHRAN Vs. SAKTHI FINANCE LTD.

JUDGEMENT

(1.) IT is trite law that only such of the property as is necessary to satisfy the decree debt need be sold. This is the principle enshrined in Order XXI Rule 64 of the Code of Civil Procedure. The property proclaimed for sale in the instant case is 2.75 cents of land. The court below shall sell the property proclaimed for sale in two lots of almost equal area. Lot No. 2 need be sold only if the sale proceeds of lot No. 1 are insufficient to discharge the award amount. Both the lots shall be proclaimed for sale at the same venue and date. The award amount exceeds Rs. 2 lakhs (inclusive of interest and costs) and the grievance is as regards the upset price fixed. The court below has fixed the upset price for the entire property at Rs. 1 lakh. The petitioners contend that the property would fetch Rs. 5 lakhs on a modest estimate. The estimate of both the decree holder and the judgment debtors have to be incorporated in the sale proclamation. This will be in tune with Order XXI Rule 66 of the Code of Civil Procedure.

(2.) THE court below shall modify the sale proclamation accordingly on motion made by the petitioners. The petitioners are given time till 10 -12 -2012 to move for modification of the sale proclamation. The court below is at liberty to surge ahead with the sale of the property as proclaimed if no application is filed by the petitioners as directed. The entire proceedings shall however be taken to a logical end within a period of three months from the date of receipt of a copy of this judgment.