SEEMA TRADING COMPANY Vs. P N B

JUDGEMENT

(1.) This revision petition arises out of the orders of the learned Senior Sub-Judge, Mandi, dated 16th January, 2002.

(2.) It appears, petitioner-judgment debtor, Seema Trading Company, had taken certain advances from the decree holder Punjab National Bank. The loan amount was not paid to the bank. A suit was filed by the bank for the recovery of the amount due to the bank. Judgment debtor suffered a decree, dated 27th March, 1996, for Rs. 36,356 alongwith interest pendente lite and future at the rate of 17.5% per annum with quarterly rests till the realisation of the decretal amount. The decretal amount was not paid by the judgment debtor. The decree holder brought an execution petition before the trial Court qua Rs. 1,09,448.90 paise, which included interest and costs as well as the costs of the execution. The judgment debtor filed objections under Section 47 of the Code of Civil Procedure claiming that the house/building of the judgment debtor, which was located in Mohalla Mangwain of Mandi town, sought to be attached in execution by the decree holder, is exempt from attachment being a residential house in which the judgment debtor and his family members reside and that the objector has no other house to live in. Learned trial Court vide its impugned orders dismissed the objections holding that the objections were not maintainable.

(3.) Learned trial Court in dismissing the objections relied upon State Bank of India, Bathri v. Shri Balak Raj Abrol and another. In Balak Raj Abrol, learned Single Judge of this Court held that in view of the provisions of Section 60 of the Code of Civil Procedure as amended by an Amendment Act, 104 of 1976, the property was not exempted from the attachment simply because it happened to be main residential house of the judgment debtor.