ORDER :

VENKATESWARLU NIMMAGADDA, J.

This instant Civil Revision Petition is filed by the 2^nd JDr/petitioner herein against the decretal order dated 28.07.2025 passed in E.P.No.2/2023 in Dispute No.264/2022 on the file of the Court of the Learned Civil Judge (Senior Division), Addanki wherein the petition filed by the Decree Holder/Respondent No.1 herein under Order XXI Rule 54, 64 and 66 of CPC seeking to attach and sell the petition schedule property of the 2^nd JDR/petitioner herein was allowed.

2. The petitioner herein is 2^nd Judgment Debtor and respondents herein are decree holders in dispute No.264/2022. For the sake of convenience and clarity, parties arrayed as they were referred in Execution Proceedings. Respondent Nos.2 to 5 arrayed as not necessary parties in the present CRP.

3. The brief facts of the case

The Decree Holder filed arbitration case in Dispute No.264/2022 before the Hon’ble Deputy Registrar of Chits, Narasaraopet under Section 64 of the Chit Fund Act, 1982 praying to pass an award for recovery of chit amount of Rs.25,82,336/- against the 2^nd JDr and 4 others, who are Respondent Nos.2 to 5 herein. Accordingly the Deputy Registrar of Chits, Narasaraopet passed an award dated 19.12.2022 which reads as under:

“a. That the dispute be and the same is hereby decreed with costs.

b. That the Opponents 1 to 5 jointly and severally do pay to the Disputant Company a sum of Rs.25,82,336/- (Rupees TWENTY FIVE LAKHS EIGHTY TWO THOUSAND THREE HUNDRED AND THIRTY SIX ONLY) with subsequent interest @ 18% p.a. on the principal amount of Rs.20,38,786/- (Rupees TWENTY LAKHS THIRTY EIGHT THOUSAND SEVEN HUNDRED AND EIGHTY SIX ONLY) from the date of Dispute till the date of Award and thereafter 12% p.a. from the date of Award till the date of realization.

c. That the Opponents 1 to 5 jointly and severally do also pay to the Disputant a sum of Rs.50,419/- (Rupees FIFTY THOUSAND FOUR HUNDRED AND NINETEEN ONLY) towards costs of the dispute.

The Deputy Registrar of Chits, Narasaraopet also issued recovery certificate on the same day i.e,. on 19.12.2022 under Section 71(A) of the Chit Funds Act, 1982 which shows as under:

“RECOVERY CERTIFICATE

(Under Section 71(A) of the Chit Funds Act, 1982)

This is to certify that on 19.12.2022 an award passed in the above dispute, thereby it is ordered that the opponents 1, 2, 3, 4 and 5 do pay jointly and severally to the disputant company. The total claim amount of Rs.25,82,336/- (Rupees TWENTY FIVE LAKHS EIGHTY TWO THOUSAND THREE HUNDRED AND THIRTY SIX ONLY) with entire costs and interest at the rate of 18% per annum on the principal amount of Rs.20,38,786/- from the date of filing of the dispute i.e., 24.06.2022 till the date of Award and thereafter at 12% p.a from the date of Award till realization against the Opponents 1, 2, 3, 4 and 5 with joint and several liability. Any other payment made shall be adjusted in aforesaid quantified entitled amount. This dispute is Accordingly Awarded in favour of Disputant and against the Opponents. Costs of the dispute of Rs.50,419/- are also awarded.”

Pursuant to the award and recovery certificate, the Decree Holder filed E.P.No.2/2023 on the file of Senior Civil Judge Court, Addanki in Dispute No.264/2022, in which the 2^nd JDr filed counter-affidavit and after conducting a detailed enquiry, recording evidence, and marking the documents, the court below allowed E.P. No. 2 of 2023 by order dated 28.07.2025 and the same was assailed in the present Civil Revision Petition.

4. Learned counsel for 2^nd JDr submits that the property attached in E.P.No.2/2023 on 03.03.2023 was mortgaged in favour of Andhra Bank prior to filing of E.P itself. Now the said bank was merged with Union Bank of India. Subsequently the 2^nd JDr sold the EP schedule property under a registered sale deed dated 01.09.2023 in favour of 3^rd party i.e., Gundapaneni Kavitha for Rs.21,00,000/-. The said amount was credited towards mortgage loan amount with the Union Bank of India and remaining amount of Rs.1