S. Ravindra Bhat, J.

C.M. APPL. 12159/2011 IN EFA (OS) 26/2011

For the reasons mentioned in the application, C.M. Appl. 12159/2011 is allowed.

EFA (OS) 23/2011 & C.M. APPL. 10277/2011 AND EFA (OS) 26/2011 & C.M. APPL. 12158/2011

1. This common judgment would dispose of two appeals directed against a judgment and order of a learned single judge of this Court, dated 24-03-2011 in EP No. 112/2010. The impugned judgment overruled the contentions of the appellant in EFA No. 23 of 2011, (hereafter “B.K.Modi”) that execution proceedings were not barred in any manner, by operation of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (hereafter “SICA”). The second appeal (EFA 26/2011) is by Morgan Securities Ltd (hereafter “Morgan”); it claims to be aggrieved by a part of the same order, to the extent it excludes one of the properties of B.K. Modi, on the ground that it is a dwelling house (hereafter “the suit property”) from execution proceedings.

2. The facts necessary for deciding the controversy are set out hereafter. M/s Modi Rubbers Ltd. borrowed Rs 5 Crores from Morgan Securities through an inter corporate deposit on 20-3-2001; the money was payable in n