A. Gopal Reddy, J.

C.M.A.No.1448 of 2008 by the auction purchaser and C.M.A.No.200 of 2008 & C.R.P.No.5004 of 2008 by the decree holder, which are directed against the common order dated 06-02-2008 passed by the Principal District and Sessions Judge, Medak at Sangareddy in E.A.Nos.23 & 24 of 2007 in E.P.No.50 of 2002, are taken up for hearing together and disposed of by this common judgment.

2. In the course of our judgment, the parties are referred to as arrayed in the Court below, for the sake of convenience.

3. The facts in nutshell giving rise to filing the present appeals and revision are as under:

M/s. Maharastra Apex Corporation Limited (hereinafter called decree-holder) filed E.P.No.50 of 2002 against Irrigation Engineering Company (India) Limited, Ranigunj, Secunderabad represented by its Joint Manager, Praveen Dawar; Rajkumar Tandon and Smt. I. Shanthamma. All the three were shown as co-obligators for execution of award passed by Sri A.S.N.Habaar, advocate, Arbitrator in A.P.No.201 of 2000 dated 11-08-2001 wherein the arbitrator passed ex-parte award for recovery of sum of Rs.19,14,461/- as claimed by Maharastra Apex Corporation Limited with future interest on R