K C MANCHANDA Vs. OFFICAL RECEIVER

JUDGEMENT

(1.) This is a Civil revision and has been directed against the judgment dated 30.10.1982 passed by the Court of Addl. District Judge, Amritsar, who dismissed the appeal of the present petitioner.

(2.) The brief facts of the case are that the appellant was entitled to a charge of Rs.29,000/- on the property of the insolvent firm M/s Bawa Cycle Store on the basis of equitable mortgage in his favour. Arvinder Kaur, respondent purchased the property of the insolvent, i.e. the house, vide Sale deed dated 4.8.1965 in her favour prior to the order dated 9.9.1977 of the Insolvency Court declaring her property liable to auction. The appellant also filed a suit for the recovery, of Rs.29,000/- and got the property is possession of Arvinder Kaur attached in execution of the decree passed in his favour. The parties agitated their claims right upto the Hdn'ble High Court and the matter v as set at rest by the judgment dated 13.3.1974, passed in RSA No.46 of 1968 (K.C. Manchanda v. Arvinder Kaur and Ors.), vide which the following order was passed:-

(3.) K.C. Manchanda filed an application before the Insolvency Court for the payment of interest on the amount of equitable mortgage, i.e. Rs,29,000/-. However, the Insolvency Judge rejected that application vide order dated 28.1.1981. Aggrieved by the said order, the petitioner filed an appeal before the court of Addl. District Judge, Amritsar, who dismissed the appeal for the reasons given in para-3 of the order which read as under:- .