Civil Revision No. 223 of 2009 -1- *** IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Revision No. 223 of 2009 Date of decision : 15.1.2010 Mohinder Singh ....Petitioner Versus Oriental Bank of Commerce and another ...Respondents **** CORAM : HON'BLE MR. JUSTICE S. D. ANAND Present: Mr. Harkesh Manunja. Advocate for the petitioner. Mr. Hitesh Kaplish, Advocate for Mr. Pawan Sharma, Advocate for the respondent. S. D. ANAND, J. In terms of the order dated 20.11.2009, passed by a Coordinate Bench (T.P.S.Mann, J.) of this Court, Shri Sanjiv Kapoor , Branch Manager, Oriental Bank of Commerce, Ladwa, District Kurukshetra is present. He states that the Bank has no objection to the release of 15 Kanals 11 Marlas of land to enable the petitioner herein to sell it off and raise funds for being able to furnish a bank guarantee. The officer has also identified the property which can be released. The details there of are as under: - “2/9th share of the land comprised in Khewat No.243, Khatauni No.427, 428, Khasra No.26//11(7-8), 20(7-8), 17(8-0), 18(8-0), 14/2(7-7), 22(8-0), 23(8-0), 24(8-0) and 26//19(8-0) situated in village Ghallore, Hadbas No.159, Sub Tehsil Radaur, Tehsil Jagadhri, District Yamunanagar.” Civil Revision No. 223 of 2009 -2- *** Execution petition was filed by the respondent-bank against the petitioner herein, for execution of an exparte judgment and decree. The objections were disposed of by the learned Trial Court, vide order dated 1`4.10.2007. It was held that the petitioner owed a sum of about Rs.3,70,000/- to the respondent-bank at the time of filing of execution application. The plea was disposed of with a direction that the further proceedings in the execution application shall stand stayed if the petitioner herein would provide security to the tune of Rs.4 lacs to satisfy the impugned decree, in case the judgment and decree is not set aside ultimately. The petitioner is in revision against that order. It was in the course of the hearing of the execution application that the following order weas passed by a Coordinate Bench (T.P.S.Mann, J.) on 20.11.2009:- “Learned counsel for the petitioner states that his client is willing to furnish the bank guarantee for the decretal amount but the only obstacle which comes in his way is that his entire land, measuring 87 Kanals, stands attached. In case, about 10 Kanals of land is released from attachment, he shall either encash the same by selling it and then furnish bank guarantee or mortgage the same and then request the bank for furnishing the necessary bank guarantee. The suit was filed in the year 1997 when the outstanding amount against the petitioner was Rs.1,92,000/-. The suit was decreed, though ex parte, on 24.09.2005 and the loanee was directed to pay the aforementioned suit amount along with interest at the rate of 14% with half yearly rests from the date of filing of the suit till realisation of the amount the execution Civil Revision No. 223 of 2009 -3- *** was applied on 27.05.2006 and at that time the outstanding amount was Rs.3,70,000/-, as is clear from para 3 of the order dated 14.09.2007 passed by the execution Court. Adjourned to 15.01.2010 so as to explore the possibility of an amicable settlement. The petitioner, on the one hand, and Branch Manager of Oriental Bank of Commerce, Ladwa District Yamuna Nagar, on the other, shall be present in person. It is in pursuance of that order that the Branch Manager concerned has entered appearance today and made a statement. On consensual basis, the petition shall stand disposed of with a direction that petitioner shall be entitled to sell 15 kanals 11 marals of land, whose particulars stand indicated above. The sale proceeds thereof would be utilised by the petitioner herein to furnish bank guarantee for the execution of the impugned judgment and decree. January 15,2010 (S. D. ANAND) Pka JUDGE