CHARANJIT SINGH CHEEMA Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) This revision petition is directed against the order of the Executing Court directing the petitioner to furnish security in the sum of Rs. 3,50,000/-.

(2.) There is no dispute about facts. An ex parte decree of Rs. 2,03,060.80 with costs and future interest at the rate of 9-5/8 per cent per annum from the date of institution of the suit till realisation of the decretal amount was passed in favour of respondent No. 1 and against respondent Nos. 2, 3 and the petitioner. The petitioner is a guarantor. The loan was advanced on security of immovable property. The security was furnished by way of deed of hypothecation.

(3.) Normally this Court will not interfere with the discretionary orders like the one passed by the executing Court. However, in the present case it has resulted in gross injustice to the petitioner. His property worth more than Rs. 4,50,000/- is already under attachment. The attachment will be kept intact and it will be removed only when the application under Order 9 rule 13 of the Code of Civil Procedure is finally disposed of by trial Court. After disposing of the application, the executing Court will pass such orders as are necessitated under the circumstances with regard to the attached property. The order passed by the trial Court for furnishing security in the sum of Rs. 3,50,000/- is wholly unjustified. The order under challenge is set aside. However, the executing Court is directed to dispose of the application under Order 9 rule 13 of the Code of Civil Procedure expeditiously preferably within three months from the date of receipt of this order. No order as to costs.