CHIRRAVURI VEERABHADRA RAO Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The 1st respondent filed O.S.No.79 of 1988 in the Court of I Additional District Judge, Rajahmundry, against the appellant and another, for recovery of amount. The suit was decreed. After the decree became final, the 1st respondent filed E.P.No.57 of 1993. Attachment was obtained against plaint- 'A' to 'E' schedule properties. 'B' and 'C schedule properties are owned by the appellant. The judgment-debtor is said to be a firm and that it owned 'D' and 'E' schedule properties that were offered as security for repayment of the debt.

(2.) The 'B' and 'C schedule properties were brought to sale on 26.11.1998, and respondents 2 and 3 emerged as highest bidders for the two items of property. The appellant filed E.A.No.3 of 1999 under Rule 90 of Order XXI, read with Section 47 C.P.C. The grounds pleaded by him are broadly that, (a) though plaint 'D' and 'E' schedule properties were offered as security, the 1st respondent did not proceed against the same, on account of collusion between some of the parties; (b) the value of plaint 'B' and 'C schedule properties was put at an incredibly low figure, without following the procedure prescribed under the relevant Rules of Order XXI, for determination of the value; and (c) the publicity, as provided for under Rule 67 of Order XXI, was not given, before the sale was conducted. Other ancillary contentions were urged.

(3.) The application was mainly opposed by respondents 2 and 3. The Executing Court dismissed E.A.No.3 of 1999, through its order dated 08.03.2001. Hence, this appeal, under Order XLIII Rule 1 C.P.C.