STATE BANK OF PATIALA Vs. JAGDISH SINGH KHEHAR

JUDGEMENT

(1.) Having remained unsuccessful before both the Courts, the State Bank of Patiala, decree holder-appellant (hereinafter referred as 'the appellant') has filed this execution second appeal.

(2.) The time lag in the matter under consideration is enormous. In the year 1984, M/s Shree Ganesh Sales, of which Himesh Sablok-respondent No.3 and Surinder Behal-respondent No.4 were partners, was granted cash credit facility to the tune of Rs.50,000/-. The allegations are that the said Himesh Sablok had hypothecated the property i.e. H.No.730, Sector 8-B, Chandigarh with the appellant as a credit security by depositing title deeds to obtain the said facility. Having failed to pay the loan amount, a civil suit No.161 was filed on 26.10.1987 for recovery of Rs.61,894-05 paise, under Order 34 read with Order 7 Rule 1 CPC. In the said suit, the defendants i.e. M/s Shree Ganesh Sales, Himesh Sablok and Surinder Behl were proceeded against exparte., whereas Sudhir Mahajan-respondent No.5 had contested the suit. The said suit resulted into a preliminary decree on 19.04.1989 for recovery of Rs.61,894.05 paise along with interest at the rate of 151/2 % per annum since the date of filing of the suit till realization. It was further ordered that on failure to pay the said amount within three months, the property so hypothecated i.e. H.No.730, Sector 8-B, Chandigarh, would be sold and still in the case of deficiency in recovery, the appellant would be at liberty to recover the amount from respondent Nos. 2 to 5 personally. The aforesaid preliminary decree dated 19.04.1989, ultimately merged into final decree dated 02.05.1996.

(3.) After the appellant filed the execution petition, the Court issued notice and thereafter, the aforesaid property was ordered to be attached.