P L V GIRI Vs. A SUBRAMANIAM

JUDGEMENT

(1.) THE appellant herein, namely, P.L.V.Giri is the judgment-debtor while respondents and 2, namely, A.Subramaniam and Palaniappan are respectively the decree- Court-auction purchaser.

(2.) PURSUANT to a mortgage decree passed in O.S.No.145 of 1972 on the file of Subordinate Judge, Chengalpattu, for a sum of Rs.1,44,045.85, execution had been levied E.P.No.95 of 1974 and despite best of efforts, substantial amounts could not be realised, notwithstanding the fact that the execution proceedings had been pending quite long consequently, the Execution Petition was closed on 15.6.1980.

(3.) ON 19.6.1981, the property was ordered to be proclaimed for sale to be held 22.7.1981 originally, by notifying the plaintiffs value at Rs.50,000 subject to encumbrances; Amin's value at -Rs.6,75,000 and the upset price at Rs.5,00,000 subject to encumbrance. However, the sale was stopped at the instance of the judgment-debtor and 2.9.1981 fixed as the date of sale, on the same terms, but by including the valuation of Rs.12,00,000, as given by the judgment-debtor.