K SOMARAJU Vs. CH L SATYANARAYANA

JUDGEMENT

(1.) This revision is filed against the orders dated 7-9-1994 in E.P. No.199 of 1990 in O.S. No.242 of 1985 on the file of the Court of the II Additional Subordinate Judge, Kakinada.

(2.) The brief facts in giving rise to the filing of this revision are as follows: The Decree Holder filed the suit on the basis of the mortgage deed executed by the J.Drs. and obtained preliminary decree on 21-1-1985 and also obtained final decree on 22-2-1987. The decree holder filed the E.P. to bring the mortgage property to sale to realise the amount due under the said final decree in E.P. No.199 of 1990. It appears that the 1st J.Dr. filed I.P. No.1 of 1987 and he was adjudged as insolvent on 22-1-1990. The first J.Dr. filed a counter in the said E.P. stating that he was declared as insolvent and Official Receiver was appointed and the property vests with the Official Receiver and the mortgaged property was also shown in the schedule of debts filed in the Insolvency Petition No.l of 1987 and hence he requested to dismiss the petition.

(3.) Judgment Debtors 2 to 4 filed a memo adopting the counter of the 1st J.Dr. The Official Receiver also filed a counter stating that the 1st J.Dr. adjudged as insolvent and he was appointed as Official Receiver and the property vests with him and he let out the said property to one Venkateswara Rao on yearly rent of Rs.300/- and that he alone is entitled to sell the property but the decree holder cannot bring the property to sale.