ORDER :

1. Supervisory Jurisdiction of this Court is being invoked by the Jammu & Kashmir Bank the petitioner herein (for short “the Bank”) seeking quashment of order dated 03.03.2022 passed by the court of Additional District Judge (Commercial Court), Jammu (for short “the trial court”).

2. Facts emerging from the record would reveal that the petitioner herein being plaintiff filed a suit against the respondents herein for recovery of an amount of Rs. 21,23,99,541.48/- on the premise that the defendant 1 being a Company and defendants 2 and 3 its Directors being respondents herein availed a loan/cash credit facility from the Bank and in furtherance thereof executed multiple documents including personal guarantee for repayment of the loan as also hypothecated the Company’s assets including the plant and machinery (present and future), stocks and book debts with the bank as well as mortgaged the immovable properties standing in the name of defendant 2 as a security for the payment of the said loan amount.

It also came to be stated in the plaint by the bank that the defendants-respondents herein availed the loan/cash credit facility as per the terms and conditions jointly and severally liable for repayment of the loan amount alongwith the interest.

It also came to be stated in the plaint that the defendants-respondents herein, however, did not abide by the terms and conditions set out for repayment of loan/cash credit facility and defaulted therein and after being advised, asked and reminded number of times to liquidate their outstanding amount, the defendants-respondents herein failed necessitating the filing of the suit.

3. Written statement to the suit came to be filed by the defendants-respondents herein after the defendants were summoned by the trial court, wherein the claim raised and lodged in the suit came to be opposed and resisted by the defendants-respondents herein.

4. During the pendency of this suit, the plaintiff-petitioner herein preferred an application under Order 38 Rule 5 read with Section 151 of the Code of Civil Procedure for attachment before judgment qua the sale of immovable property comprising of a residential flat bearing No. 402 located in Pocket D-6, Block G-6 situated at Vasant Kunj, New Delhi (for short “the property”) standing in the name of defendants 2 and 3 – respondents herein. In response to which application filed by the plaintiff-petitioner herein, objections came to be filed by the defendants-respondents herein opposing the said application.

5. The trial court after considering the said application, in terms of the impugned order, dismissed the same.

6. The impugned order whereby the aforesaid application of the plaintiff-petitioner herein came to be dismissed is being assailed in the instant petition by the petitioner.

Heard learned counsel for the parties and perused the record.

7. Before proceeding to test the legality or otherwise of the impugned order, it would be pertinent, significant and advantageous to refer to the contents of the application supra filed by the plaintiff-petitioner herein before the trial court as also the affidavit accompanied therewith and, same accordingly, are extracted and reproduced in extenso hereunder:-

1. That the above titled Civil Original Suit for the recovery of Rs. 21,23,99,541.48 (Rupees Twenty One Crore Twenty Three Lacs Ninety Nine Thousand Five Hundred Forty One and Forty Eight Poise only) has been filed against the non applicants/defendants and prima facie the averments made in the plaint demand the grant of decree in favour of the applicant/plaintiff Bank and against the non-applicant/defendants.

2. That today the application filed on behalf of plaintiff Bank under Section 136, Order 38 Rule 5 read with section 151 Civil Procedure Code has been listed.

3. That the plaintiff Bank humbly seeks the kind indulgence of Learned Court to place on record the copies of following documents:

(a) Valuation Report dated 29-09-2020 of Land measuring 21 Kanals