JAGAN NATH Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The challenge in this petition is to the impugned order whereby warrant of arrest for the recovery of the decretal amount has been issued by the Executing Court.

(2.) The petitioners have raised a loan from the State Bank of India, now respondent. As they failed to pay the loan amount, therefore, suit for recovery of the amount was decreed against them. They had also failed to pay the decretal amount with the result execution application was filed. The impugned order, copy whereof is Annexure P-1, reads as under :-

(3.) A bare perusal of this order shows that the judgment debtors had been requesting time for making payments and on that basis the case was adjourned by the Executing Court on several dates. The objections filed by them were also dismissed vide Annexure P-3; meaning thereby that the order passed in the objection petition had become final. On the date fixed, they failed to appear or make the payment. The Court had no other option but to issue arrest warrants. It is equally pertinent to note that while passing the decree, the Court had directed the defendants to make the payment within three months from the date of the judgment, i.e., 3.2.1992, failing which the hypothecated and mortgaged properties would be sold in a public auction and the sale proceeds shall be adjusted towards the decretal amount. It was further directed that in case the decree remains unsatisfied even after the adjustment of the sale price, then the remaining amount shall be recovered from the persons and the remaining property of the defendants.