K V ANTONY Vs. CATHOLIC SYRIAN BANK LTD

JUDGEMENT

(1.) Decree holder-bank brought the property of the appellant to sale in execution of a mortgage decree. Sale was conducted on 15-l-1989. The decree holder purchased the property, in the absence of other bidders, for the decree debt due then. Appellant moved for setting aside the sale, but the execution court dismissed it as per the impugned order.

(2.) Among the grounds taken up by the appellant he pressed two of them into service here. First is that there was gross under-valuation of the properties sold. Second is that the sale is illegal inasmuch as the court did not fix a reserve price as regards the mortgage as provided in O.21 R.72A(2) of the Code of Civil Procedure (for short the Code').

(3.) Regarding the first ground, appellant has not adduced any evidence. There is no material to show that the value of the property would have been substantially higher than the bid amount as on the date of sale.