MUKHTIAR SINGH Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) THIS revision-petition is against the order of the executing court dated 8-12-1990 whereby objections of the petitioner were dismissed.

(2.) BRIEFLY put, the Punjab National Bank - the decree-holder-filed an execution application for recovery for a sum of Rs. 78,801. 25 paise against the judgment-debtors the loanees as well as guarantors. The guarantor raised objection to the execution on the ground that his property cannot be attached/sold till the decree-holder has exhausted all his remedies against the resorted to in the present case.

(3.) DECREE-HOLDER put in appearance and controverted the averments made by the objectors. It was specifically stated that liability of the objector being a guarantor for the loan was joint and several and so the objector was estopped to say that decree-holder should take measures to recover from the guarantor till such time. The executing court considered the various objections raised by the guarantor, i. e. (i) not properly calculating the principal amount and interest amount separately (ii) objection of the judgment-debtor that attachment of agricultural land of the objector-guarantor-was against law ; (iii) no steps having been taken for attaching the property of the judgment-debtor/loanee which comprised of 3 machines, one electric motor and one takar ; and (iv) the award of future interest beyond 6%. The executing court found no merit in any of the submission made by the judgment-debtor and so dismissed the same.