IA No.7177/2013 (of plaintiff u/O XXXIV R-3(2)&(3) CPC)

1. In this mortgage suit under Order XXXIV of Code of Civil Procedure, 1908 (CPC) for recovery of Rs.7,03,500/- with future interest @ 17% per annum compounded quarterly from the date of institution of the suit till realisation and for sale of the hypothecated and mortgaged properties for realisation of the said amounts, on 26th April, 2001, a preliminary decree in the sum of Rs.7,03,500/- along with interest @ 12.5% per annum with costs was passed and the defendants were directed to pay into the Court the decretal amount within six months therefrom. It was further provided that if no payment is made, the plaintiff Bank would be entitled to seek a final decree.

2. The defendants M/s Mayur Exports and Shri Anil Kumar Sethi though had contested the suit by filing a written statement but the judgment dated 26th April, 2001 records that the defendants stopped appearing at the stage of evidence and neither cross-examined the witnesses of the plaintiff Bank nor led evidence of their own. Hence, the preliminary decree a