RAJESH KAPOOR Vs. CHAND SEHTI

JUDGEMENT

(1.) Petitioner Rajesh Kapoor was the defendant in the suit for recovery of Rs. 65,915/ - filed by respondent Chand Sethi, which was decreed ex -parte on 8.6.2006. During the execution proceedings, the petitioner filed an application under Order 9 Rule 13 read with Sec. 151 C.P.C. for setting aside the impugned ex -parte judgment and decree dated 8.6.2006 and also filed application for staying of the impugned ex -parte judgment and decree. The learned Executing Court stayed the executing proceedings subject to the petitioner's furnishing bank guarantee to the tune of decretal amount, within 15 days vide order dated 7.4.2007. The petitioner failed to submit the requisite bank guarantee and sought extension of time. The Executing Court extended the time up to 15.5.2007 for doing the needful. But the petitioner instead of furnishing the requisite bank guarantee, filed the instant revision petition.

(2.) The only argument of the counsel for the petitioner is that he can only manage the bank guarantee of Rs. 45,000/ - and not beyond that for which he be permitted to submit adequate surety/security of the remaining decretal amount. There appears to be fairness in the submission of learned Counsel for the petitioner. The petitioner is ready to furnish bank guarantee of the major portion of the decretal amount and there will be no impediment if the petitioner is permitted to furnish adequate surety/security in respect of the remaining decretal amount.

(3.) Keeping in view the circumstance above, the petition is allowed and the impugned order dated 7.4.2007 passed by the Executing Court is modified to the extent that the petitioner will furnish bank guarantee to the tune of Rs. 45,000/ - and for the remaining decretal amount, the petitioner will furnish adequate security/surety, to the satisfaction of the Executing Court.