Judgment

Dr. ANAND, J.:- The common question of law which arises in both these appeals, by special leave, is whether the Financial Corporation set up under S. 3 of the State F1nancial Corporations Act (hereinafter the Act) is entitled to take recourse to the remedy available to it under Section 29 of the Act even after having obtained an order or a decree after invoking the provisions of Section 31 of the Act but without executing that decree/ order? The facts in both the appeals are, however, different and we shall first notice the relevant facts in each of the two appeals, before answering the question posed herein above.

CIVIL APPEAL NO. 3689 OF 1987.

2. The respondent borrowed a sum of Rs. 99,500/- from the appellant, the Andhra Pradesh State Financial Corporation (hereinafter the Corporation), for the purpose of carrying on the business of manufacturing agricultural implements. A mortgage deed was executed by the respondent on 27-12-1966. On account of the defaults committed by the respondent, the Corporation filed an application being OP No. 211 of 1969 before the District Judge, Guntur, under S. 31 of the Act for realisation of the sum of Rs. 1,09,020.19 paise together with fur