J.V.GUPTA
Central Bank Of India – Appellant
Versus
Raghbir Singh Virk – Respondent
, J.
1. This revision petition is directed against the order of the executing court dated January 16, 1988, whereby the auction-purchaser has been allowed interest at the rate of 12 per cent. per annum on the money deposited by him from the date of deposit till the refund of the purchase money.
2. In execution of the decree filed by the petitioner-bank, the attached property was sold in open auction for a sum of Rs.60,500. The auction purchaser deposited the said amount in court on December 17, 1985. Subsequent thereto, the sale was ordered to be set aside on the basis of an irregularity committed in conducting the sale for want of notice under Order 21, Rule 66, Code of Civil Procedure (hereinafter called "the Code" ). At the same time, the auction-purchaser was also directed to withdraw the amount, vide order dated July 23, 1987. At the time when the sale was set aside under Order 21, Rule 90 of the Code, no direction as to interest was given by the executing court. Later on, the auction-purchaser moved an application stating that he may be allowed interest on the said amount from December 17, 1985, till its realisation from the decree-holder-bank. The said application wa
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