BHAWANI PARSHAD KAPUR Vs. HIMACHAL PRADESH FINANCIAL

JUDGEMENT

(1.) THIS appeal has been filed under Section 32 of the State Financial Corporations Act, 1951, hereinafter to be referred as 'the Act', and is directed against the order dated 9 9 1980, passed by the District Judge. Mandi. The impugned order was passed in the proceedings initiated by the respondent against the appellant under Section 31 of the Act and it directs that the property of the appellant mortgaged with the respondent as security for the loan raised by the appellant from the respondent be put to sale for realization of the principal amount of loan along with interest thereon till the date of its realization.

(2.) THE facts and circumstances giving rise to this appeal may now be stated in brief:

(3.) ON the pleas raised by the parties, the District Judge framed the following issues :