CHITRAREKHA Vs. VIRENDRA KUMAR SHARMA

JUDGEMENT

(1.) HEARD on 1a. No. 10288/08 for taking certain documents on record. The application is allowed.

(2.) BECAUSE the petitioner has challenged the order passed in execution proceedings hence with the consent of parties the case is disposed of finally.

(3.) PLAINTIFF-RESPONDENT No. 1, Virendra Kumar Sharma, filed a civil suit against the petitioner-defendant No. 1 for recovery of an amount of Rupees two Lakhs with interest at the rate of 18% per annum. He pleaded that the defendants had taken a loan for their personal use on 01 -11 -1999. In consequence thereof a promissory note was executed. Defendants also agreed to pay interest at the rate of 18% per annum on the loan amount. However, in spite of that the defendants did not pay the aforesaid amount. Defendants denied the execution of promissory note and taking loan. They pleaded that plaintiff authored a forged document. The Trial Court after recording the finding that defendants had taken a loan of Rupees Two Lakhs passed a decree of an amount of Rupees Two Lakhs with interest at the rate of 18 % per annum from the date of institution of the suit i. e. , 08-08-2002. Plaintiff filed an execution proceedings for execution of the aforesaid decree. During execution proceedings the petitioner-defendant no. 1 deposited an amount of Rs. 40,000/- on 24-03-2006 and Rs. 2,36,000/- on 01-07-2006 calculating the interest at the rate of 6% per annum. The Executing court did not satisfy with the amount and issued notification for auction of the property of the petitioner on the ground that petitioner did not deposit the amount as per the rate of interest of 18% per annum.