SRINIVASAN, J.

1. (O.S.A. No. 126/94 & Application No. 4029/94) This appeal is by the decree-holder (Punjab National Bank, Madras-1, hereinafter referred to as the ‘Bank’) in C.S. No. 180 of 1984 against the order of a learned single judge of this Court in Application No. 6488 of 1993.

2. The Bank is aggrieved by the direction contained in the judgment of the learned single judge whereby the Bank is directed to discharge all the statutory liabilities of defendants 1 to 16 towards income-tax, sales-tax and others in such a way that defendants 1 to 16 are not burdened with any liability after the execution of the sale deed.

3. The Bank obtained a decree passed on consent in C.S. No. 180 of 1984 on 14-6-1989. It was a decree based on mortgage and hypothecation. After some attempts were made to sell the properties through an Advocate-Commissioner and failed, the Bank entered into private negotiations with certain parties and ultimately, agreed with one K.K.R. Finance & Housing Development (P) Ltd. for sale of all the properties at Rs. 2.25 Crores. It is not necessary at this stage to set out all the terms of the agreement betw een the Bank and the said K.K.R. Finance & Housin