SUNNY FARMS Vs. UNITED COMMERCIAL BANK

JUDGEMENT

(1.) The Present revision petition has arisen out of an execution petition which was disposed of by the learned Subordinate Judge being fully satisfied. The judgment-debtors through this revision petition have only challenged the order of the executing Court to the extent that after the deposit of Its. 1,70,975/- on June 20, 1980, there remained a balance of Rs. 4,963.15P. and not Rs. 64,608/-. The contention of the learned Counsel is that a sum of Rs. 59,000/- had been deposited by the first Auction Purchaser an July 24, 1978 and this amount was available to the Bank and should have been adjusted against the loan amount. The Bank having failed to do so is not entitled to charge interest on this amount. The learned Counsel pointed out that it had been ordered by the trial Court by order dated 14th July, 1980, that this amount of Its. 59,000/- be paid to the Bank.

(2.) The learned Counsel appearing for the respondent has pointed out that the amount of Rs. 59,000/- belonged to the Auction Purchaser and there was a stay granted by the Court for withdrawing this amount. Learned Counsel further pointed out that auction in with this amount of Rs. 59,000/- had been deposited was finally set-aside by learned District Judge by order dated 12th November, 1984. The learned Counsel further contended that the sale having been set-aside, the sum of Rs. 59,000/- which had been deposited by the Auction Purchaser could not be withdrawn by the Bank and the said amount could only be withdrawn by the Bank and the said amount could only be withdrawn by the Auction Purchaser. During the course of arguments, the learned Counsel for the petitioner admitted that this amount of Rs. 59,000/- has since been withdrawn by the judgment-debtor.

(3.) The property of judgment-debtors was put to sale thereafter and then execution had been consigned to the record room being fully satisfied. I find no ground to interfere with the order of the trial Court. The amount of Rs. 59,000/- could not be paid to the Bank because of the stay order and even otherwise belonged to the Auction Purchaser whereas the revision petition has been filed by the judgment-debtors. At no point of time this amount belonged to the judgment-debtors and could not be adjusted against the loan amount. The Bank in my view has rightly calculated the amount.