DELHI HIGH COURT
ASHA MENON
Pushpa Builders Ltd. – Appellant
Versus
Vaish Cooperative Adarsh Bank Ltd. – Respondent
JUDGMENT
1. This petition has been filed under Article 227 of the Constitution of India for quashing/setting aside of the order dated 13th January, 2020 passed by the learned Additional District Judge/Executing Court, Saket Courts, in Ex. No. 337/2017. The petitioner is the Judgement Debtor and the respondent, as the Decree-Holder has sought the execution of the Final Decree dated 20th August, 1996.
2. Some of the relevant facts may be noted at this juncture. The petitioner had on 4th November, 1987 secured a loan of Rs.20 lakhs from the respondent against the mortgage of Plot No M-5, G.K.II, New Delhi. A Mortgage Deed was executed on 15th January, 1988. The agreed rate of interest according to the petitioner was 18% simple interest per annum.
3. Since the petitioner defaulted in the repayment of the loan, a suit was filed in the High Court [CS (OS) No. 1174/1991] by the respondent for the recovery of Rs.20,19,158.65/- along with interest @ 18% p.a. from the date of filing of the suit till recovery, with a further prayer for the sale of the mortgaged property in case of non-payment.
4. A preliminary decree was passed on 21st February, 1992 upon an application filed under Orde
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.