DALJIT KUMAR SON OF SHRI BHAGAT RAM Vs. H.P. STATE FINANCIAL CORPORATION THROUGH ITS MANAGER (LEGAL) AND OTHERS

JUDGEMENT

(1.) Present civil revision petition is filed under Section 115 of Code of Civil Procedure 1908 against order dated 9.9.2002 passed by learned District Judge Mandi (H.P.) in Civil Miscellaneous Petition No. 202 of 2000 filed in execution petition No. 15 of 1997 titled HPFC vs. Sarwan Automobiles.

(2.) M/s Sarwan Automobiles Shop village Barchhawar Sarkaghat District Mandi H.P. through its sole proprietor Sarwan Kumar applied for grant of loan to the tune of Rs. 316000/ - (Rupees three lacs sixteen thousand only) for construction of factory and to purchase the machinery. It is pleaded that H.P. Financial Corporation Shimla sanctioned the loan of Rs. 190000/ - (Rupees one lac ninety thousand only) and mortgage deed of immovable property comprised in Khata No. 81 min Khatauni No. 216 min Khasra No. 1119 situated in village Barachhwar P.O. and Tehsil Sarkaghat District Mandi H.P. was executed. Loanee did not pay the loan amount within time and thereafter H.P. Financial Corporation Shimla filed petition under Section 31 of H.P. State Financial Corporation Act 1951 for recovery of loan amount. Learned District Judge Mandi passed order for recovery of Rs. 300626/ - (Rupees three lacs six hundred twenty six only) with costs and interest upto 31.8.1993 and further ordered that M/s Sarwan Automobiles shop will liable to pay interest at the rate of 16 1/2% with half yearly rests. Learned District Judge further affirmed interim order dated 2.12.1993 restraining Sarwan Kumar proprietor M/s Sarwan Automobiles from transferring or removing the machinery plant and other equipments installed in factory. Learned District Judge Mandi further ordered for sale of mortgaged property mentioned in mortgage deed Ext.PB placed on record qua land measuring 1.52 hectares situated in village Barchhwar Tehsil Sarkaghat District Mandi H.P. and also ordered for sale of factory building, fixtures, fitting including electric installation and also plant and machinery described in Schedule B as security for the loan amount. Learned District Judge further ordered that Corporation would be at liberty to apply for sale after the expiry of period of appeal.

(3.) Thereafter H.P. Financial Corporation filed execution petition No. 15 of 1997. Thereafter sale of half share of Sarwan comprised in Khasra No. 1119 old Khasra No. 1162 new siutuated in village Barchhwar Tehsil Sarkaghat District Mandi H.P. measuring 0 -01 -52 hectares was auctioned. Thereafter Daljeet Kumar auction purchaser purchased the share of Sarwan Kumar on dated 25.3.2000 in consideration amount of Rs. 354000/ - (Rupees three lacs fifty four thousand only) being the highest bidder and deposited 1/4th of total amount on the same day. Thereafter on 4.4.2000 Daljeet Kumar auction purchaser filed application under Order 21 Rule 90 and Section 47 of CPC before learned District Judge Mandi pleaded therein that half share of Sarwan Kumar in mortgaged property comprised in Khasra No. 1162 was to the extent of 0 -01 -72 hectares but when proclaimation of sale by public auction was issued by Court under Order 21 Rule 66 CPC then less area was shown as 0 -01 -52 hectares. Auction purchaser pleaded therein that auction proceedings be cancelled and amount deposited by auction purchaser be refunded to him or area of auction of immovable property be enhanced to 0 -01 -72 hectares and time to deposit rest of auctioned money be extended.