LAXMI PLASTICS Vs. BANK OF BARODA

JUDGEMENT

(1.) The petitioners have filed this revision petition under S. 115, C.P.C. against the order dated 2-11-1995 passed by the learned Additional District Judge No. 2, Jodhpur in Civil Misc. Case No. 83 of 1995 on the application moved by the petitioners under O. 41, R. 6(2), C.P.C.

(2.) The relevant facts necessary for the disposal of this petition briefly stated are that non-petitioner No. 1 Bank of Baroda filed a suit for the recovery of Rs. 1,36,248.95 p. against non-petitioner No. 2 M/s. Shobha Industrial Corporation and others in the learned lower Court. It is alleged that some credit facilities were sactioned by non-petitioner No. 1 in favour of non-petitioner No. 2 by way of term loan etc. It is alleged that equitable mortgage in respect of the property belonging to Shri Hulas Chand, partner of M/s. Shobha Industrial Corporation was made for securing the loan. It is further alleged that plots Nos. P-5 and P-6 belonging to M/s. Shobha Industrial Corporation were also got mortgaged with the non-petitioner Bank. The plants, machinery, raw-materials, processed as well as finished products were also hypothecated with the non-petitioner Bank.

(3.) The petitioner-Firm M/s. Laxmi Plastics is a partnership firm, in which, Hanumandas Rathi and Smt. Kamla Devi Rathi are the partners. The firm is situated at Plot No. 5, Industrial Estate, Jodhpur. Petitioner No. 4 Shri Sita Ram Birla is the proprietor of M/s. Birla Polymers, who was also a partner in M/s. Laxmi Plastics before 9-9-1984. He retired and a retirement deed was executed and Plot No. P-5 was agreed to be given to Shri Sitaram Birla. Originally, Plots Nos. 5 and 6 were purchased by M/s. Laxmi Plastics, through its partners Shri Sitaram Birla, Hanumandas Rathi and Smt. Kamla Devi Rathi from M/s. Shobha Industrial Corporation by way of a registered sale deed dated 21-5-1979. Thus, at the relevant time, the petitioners were the owners of Plots Nos. P-5 and P-6. A preliminary decree in Original Suit No. 13/83 filed by plaintiff-non-petitioner No. 1 against M/s. Shobha Industrial Corporation and its partners was passed on 10-9-1983 and against that preliminary decree, defendant-non-petitioner No. 2 filed an appeal in this Court, which is still pending. It may be stated here that M/s. Laxmi Plastics was not impleaded as party in the aforesaid suit but it was impleaded in the appeal as respondent.