IN THE HIGH COURT OF JUDICATURE AT MADRAS

Dated: 30.11.2007

Coram:

THE HONOURABLE JUSTICE MR.M.VENUGOPAL

C.R.P.(NPD)No.1736 of 2003

and

C.M.P.No.17702 of 2003

M.Shanmugam .. Petitioner

vs.

1.UCO Bank

Erode Town,

Periyar District.

2.M/s.Salem Cones

3.K.Susheela

(R2 and R3-given up) .. Respondents

Civil Revision Petition filed against the order dated

15.09.1997 made in O.S.No.55 of 1988 passed by the Sub Judge,

Sankagiri.

For Petitioner : Mr.M.Jayaraman

For Respondent : Mr. A.V.Radhakrishnan for R1

R2 and R3 given up

O R D E R

The civil revision petitioner is the second defendant in

O.S.No.55 of 1988 on the file of the Sub Court, Sankagiri. In the

said suit filed by the first respondent/Plaintiff Bank for

hypothecation directing the defendants 1 to 3 to pay a sum of

Rs.4,79,259/- with future interest at 13.5% per annum from the

date of suit till date of payment towards the Term Loan, with a

charge over the property described in the schedule and directing

the sale of the hypothecated property in c