Pius C. Kuriakose, J.

The Nedungadi Bank Ltd. (Original decree-holder) and the Punjab National Bank, its successor by amalgamation (the present decree-holder) are the appellants. The appeal is directed against an order passed by the executing court dismissing an application filed by the original decree-holder for cancellation of sale on grounds of fraud and material irregularity.

2. Heard Sri. K.P. Balasubramanian, counsel for the appellants and Sri. C.M. Andrews, counsel for the 15th respondent as well as Sri.M.P.Ashok Kumar, counsel for the 13th and 14th respondents, Perused the lower court records.

3. The decree was one for sale for immovable properties based on a mortgage in favour of the original decree-holder. A-schedule to the decree had four items of immovable properties out of which item No.4 was situated outside the local limits of the Payyannur Sub Court wherein the execution proceedings were initiated. As on the date of the execution petition, i.e., 27.8.1991, the amount due under the decree was Rs.6,66,237.70. Execution was sought by sale of the properties, item Nos.1 to 3 in A-Schedule to the decree. The original decree-holder suggested upset prive of Rs.60,