A preliminary decree passed under Order 34, Rule 4, Civil Procedure Code, cannot be executed till a decree absolute is obtained by the decree-holder.

( 1 ) THE Lakshmi Commerical Bank Ltd. , filed a suit against M/s. American Rubber Mills Co. , a partnership concern, Harnam Singh Anand, Sunder Singh Anand Ajit Singh Anand, Ajit Singh Anand, Bhola Nath Jain etc. for recovery of Rs. 48,796,08 with costs and future interest. It prayed for a decree for this amount against the defendants jointly and severally by sale of certain stocks pledged with the plaintiff and by sale of certain properties mortgaged with the plaintiff mentioned in paragraphs 9 and 12 of the plaint. A personal decree was also sought against the defendants jointly and severally for any amount that may be left recoverable after sale of the pledged and mortgaged property. This suit was compromised and this court passed a compromise decree in favour of the plaintiff and against the defendants on 26-11-1968. Inter alia, the decree passed by this Court reads as under:

". . . . . . . . . . . . THIS Court doth pass a preliminary decree under Order XXXIV, Rule 4 of the Code of Civil Procedure and DOTH ORDER that Sarvshri Harnam Singh Anand. Surinder Singh Anand and Ajit Singh defendants 2 to 4 herein do pay to Lakshmi Commercial Bank Ltd. plaintiff herein the sum of Rs. 22,639. 89 (Rupees twenty two thousand six hundred thirty nine and eighty nine paise) with proportionate costs incurred by the plaintiff herein in this suit as taxed by the taxing officer of this court and noted in the margin hereof AND THIS COURT by and with the consent of the parties concerned DOTH ALSO ORDER that a sum of Rs. 4000. 00 (Rupees four thousand) have been paid in cash and Rupees 1000. 00 (Rupees one thousand) through a cheque on 18-9-1968 the balance amount due shall be payable by monthly instalments of Rs. 1000. 00 (one thousand) each commencing from October 1968 AND THIS COURT DOTH by and with the consent of the parties concerned FURTHER ORDER that in the event of three defaults consecutive or otherwise in the payment of instalments the balance amount shall become recoverable in lump sum AND THIS COURT DOTH by and with the consent of the parties concerned FURTHER ORDER that till the entire amount due from the said defendants to the plaintiff is paid the factory building situated on plot No. 1/359, Shahdara, Delhi, along with all the machinery, fittings, fixtures, furniture, tools, implements, stores, chemicals and materials shall remain mortgaged with the plaintiff and in the event of default the plaintiff shall have the right to recover the total amount that may be due by applying to the court for a final decree that the mortgaged property or a sufficient part thereof be sold and for the purpose of such sale the plaintiff shall produce before the court or such officer as it appoints, all documents in its possession or power relating to the mortgaged property; and that the money realised by such sale shall be paid into court and be duly applied (after deduction therefrom of the expenses of the sale) in payment of the amount payable by the said defendants to the plaintiff and that the balance, if any, shall be paid to the said defendants or other persons entitled to receive the same; and that if the money realised by such sale shall not be sufficient for payment in full of the amount due from the said defendants the plaintiff shall be at liberty to apply for a personal decree against the said defendants for the remaining amount. Plot No. 9, Punjabi Bagh, Delhi standing in the name of Shri Sunder Singh Anand and which was equitably mortgaged with the plaintiff shall Stand redeemed from mortgage and the title deed of that property shall be returned to Sunder Singh Anand. AND THIS COURT DOTH FURTHER ORDER that Sarvshri Bhola Nath Jain and Shiv Kumar Jain defendants Nos. 5 and 6 herein do pay to the plaintiff bank herein a sum of Rupees 26,156. 19 p. (Rupees twenty six thousand one hundred fifty six and nineteen paise) with interest at the rate of 12 (twelve) per centem per annum on the said sum from 11th March 1968 (the date