JUDGMENT

S.B. Sinha, J.—A judgment and order dated 8.01.1999 passed by the High Court of Karnataka at Bangalore in CRP No. 3528 of 1998 is in question before us, which arises in the following factual matrix.

2. M/s. Nellai Small Match Producers Service Industrial Co-op. Society Ltd. filed a suit against N. Dharmaraj, Respondent No. 2 herein in the Court of Principal Subordinate Judge in the State of Tamil Nadu for realization of some amount owing and due to it. The said suit was decreed. The said decree was transferred for execution to the Court of City Civil Judge, Bangalore. The matter ultimately was transferred to the Court of the 17th Additional City Civil Judge, Banaglore.

3. A proclamation of sale of immovable property bearing No. 1138/8, II Main Road, Vijaynagar, Bangalore was issued on 21.10.1988 whereupon the auction sale was held. In the said auction sale Smt. Mahadevi S. Havannavar became the highest bidder having given a bid for a sum of Rs. 3,25,000/-. The said deal was accepted by the learned Executing Court on 26.10.1988. It is stated that the said sale was conducted at about 4.00 p.m. on the said date and keeping in view of the fact that the banks at that time were cl