JUDGMENT - D.R. DHANUKA, J.:---This notice of motion raises an interesting question of law as to whether the remedy of decree-holder Union Bank of India to execute the decree dated 17th January, 1977 passed in Suit No. 1747 of 1976 was extinguished on the 'relevant date' and whether the Insolvency Notice dated 27th June, 1989 based on the said decree is liable to be set aside as a consequence thereof. The question which arises for consideration of the Court is as to whether the decree forming the basis for issue of insolvency notice was alive on the date when the insolvency notice was issued or on the date when the notice of motion was taken out to set aside the insolvency notice herein.

2. The material facts required to be stated for the purpose of disposal of this notice of motion are as under :

(a) On 17th January, 1977, Desai J., passed a consent decree in favour of Union of India and against M/s. T.A. Darbar Company, Turabali Abdulhusain Darbar and Mohammadhusain Abdulhusain Darbar in Suit No. 1746 of 1976. By the said consent decree passed in the said suit, the defendants were directed to pay to the plaintiff Union Bank of India a sum of Rs. 46,520.31 for the principal sum,

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