ROCKY TYRES CHANDIGARH Vs. AJIT JAIN

JUDGEMENT

(1.) This revision petition was taken up for hearing out of turn when the order of Hon'ble Supreme Court of India dated 21-11-1997 was brought to the notice of the Court by the registry on 2-12-1997. The matter was listed on 3-12-1997 when this Court passed the following order :-

(2.) It will be necessary to refer to the facts giving rise to the present revision as it arises from a protracted litigation between the parties since 1976. State Bank of India had filed a suit for recovery of Rs. 5,22,585.37 paise with costs and interest against Rocky Tyres and others. A decree was passed in favour of the Bank and against the defendants in the suit on 7-4-1976. Having failed to recover its dues the decree holder-Bank filed an execution application on 12-8-1976 and after following the due process the property was put to auction on 15-6-1979. The property was auctioned for a sum of Rs. 1,90,000/-. Objections to this were filed by the decree-holder as well as by the judgment-debtors which were dismissed by the executing Court. The objector-judgment debtor had preferred an appeal before the High Court in which the order of the executing Court was set aside and the matter was remanded for trying the objections after framing issues and affording opportunities to the parties to lead evidence. In furtherance to the orders of the High Court, issues were framed by the executing Court and the same were dismissed. Sale certificate was issued in favour of the auction purchaser qua the property in dispute.

(3.) Again the matter was taken up by the decree-holder-Bank before the Supreme Court. The special leave petition preferred by the Bank was disposed of vide order of the Hon'ble Apex Court on 1-12-1994. This order of the Hon'ble Supreme Court has been reported as (1995) 1 JT (SC) 60 : (1994 AIR SCW 5152) titled as State Bank of India v. Ajit Jain. It may be appropriate to refer to the operative part of the judgment which reads as follows :-