1. This appeal filed under section 96 of the Code of Civil Procedure, 1908 is directed against the order dated 7th October, 2011 passed by the 3rd Joint Civil Judge, Senior division, Kalyan allowing the application filed by the respondent nos. 1 and 2 herein partly, filed under order 21 rule 58 of Code of Civil Procedure, 1908. Some of the relevant facts for the purpose of deciding this appeal are as under:-

2. On or about 29th July 1997 Jankalyan Sahakari Bank Limited sanctioned loan in the sum of Rs.73.86 lacs to M/s. Suntex Hosiery Private Limited and Mr. Narottam Purohit against collateral security i.e. a factory premises known as plot No.F-12, situated at MIDC Industrial Estate, Badlapur, District Thane consisting of plot, plant and machinery etc. (hereinafter referred to as the suit property) M/s. Suntex Hosiery Private Limited and Mr. Narottam Purohit are hereinafter referred to as the judgment debtors. On 8th January 1999 the said bank issued a recall notice to the judgment debtor calling upon to pay Rs.89.16 lacs.

3. Sometime in the month of July 1999 the appellant filed a suit bearing Special Suit no.141 of 1999 before IIIrd Joint Civil Judge, Senior Division Kalya