PUNJAB NATIONAL BANK Vs. BAREJA KNIPPING FASTENERS LTD.

JUDGEMENT

(1.) PUNJAB National Bank -applicant has filed application for execution of decree passed in Company Petition No. 46 of 1984 and final decree passed in C. A. No. 115 of 1986. According to the applicant, a sum of Rs. 43,38,193.45 along with 12 per cent interest remains due which is liable to be recovered from the company (in liquidation) and guarantors by attaching and selling shares of the guarantors, attachment and sale of property of the guarantors and by arrest and detention.

(2.) C . A. No. 415 of 1999 has been filed on behalf of the judgment -debtors, praying for dismissal of the execution application.

(3.) IN the reply filed to the application by the judgment -debtor, the stand taken is that there is no provision for transfer of an application filed after coming into force of the RDB Act which came into force on June 24, 1993.