PIPES AND PIPES Vs. STATE BANK OF INDORE

JUDGEMENT

(1.) THIS appeal is directed against the judgment and final decree for sale dated November 4, 1996, passed in Civil Suit No. 2-A of 1989 by the Fourth Additional District Judge, Indore, whereby the decree-holder's application has been allowed and the mortgaged property has been directed to be sold.

(2.) THE brief history of the case is that the plaintiff (respondent here) filed a suit in the court of the Fourth Additional District Judge, Indore, for recovery of Rs. 3,62,716. 35 interest and costs. As per contract between the parties certain properties, i. e. , the goods, machinery and plant, as described in annexure "a" Parts "a" and "b" were pledged with the plaintiff-bank. A preliminary decree was passed on February 1, 1993. The defendants, though filed written statement, but absented at a later stage. As such an ex parte preliminary decree was passed.

(3.) THEREAFTER, the plaintiff-bank filed an application for passing of the final decree on February 18, 1994, under Order 34, rule 5, Sub-rule (3) of the Code of Civil Procedure, 1908. The defendants (appellants here) filed an objection that as the movable property has also been pledged and, therefore, the plaintiff be directed to furnish the account first and they be further directed to sell movable property first and if the money is not recovered or is not paid back fully then only the plant and machinery be sold. He also prayed for permission to negotiate private sale.