K.SREEDHARAN
Sreedhran K. – Appellant
Versus
Federal Bank Ltd – Respondent
K. Sreedharan, J.
1. When C.M.P. 4110/95 came up for orders, I heard counsel appearing on either side in detail. I am disposing of the revision petition.
2. Plaintiff, decree holder is Federal Bank, Bank advanced money to the defendants-judgment debtors on security of property mortgaged to it. Since the money was not repaid, they obtained the decree. In execution of the decree, mortgaged properties are brought to sale. As per E.P. 74/92, a sum of Rs. 1,54,174.72 is due to the Bank. On the basis of that amount, court fixed reserve price under O.21 R.72A of the Code at Rs.1,60,000/-. The property has not been sold so far. According to judgment debtors, the decree debt as on today will be much more than Rs. 1,60,000/- and so the reserve price requires modification. It is the case of the judgment debtors that the decree holder, mortgagee can be allowed to purchase the property only on wiping off the decree debt. Since this aspect has not been considered by the learned Subordinate Judge, the judgment debtors want this court to interfere with the order dated 17-8-1995.
3. Learned counsel representing the decree holder conceded the position that the executing court has to fix the reser
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