- (1.) Special leave granted.
(2.) On 28/11/1995, we passed an order setting aside the order of the division bench of the High court which had set aside the decree passed against the principal debtor by the learned Single Judge and we restored that decree. Therefore, so far as the principal debtor is concerned, there is a decree on admission against him under Order 12 Rule 6 Civil Procedure Code.
(3.) As regards the decree against the guarantors, we had deferred the issue regarding the confirmation of the decree against them but had directed them to file an undertaking within 7 days to the effect that they will not a dispose of any of their personal properties, encumbered or otherwise to be indicated in the undertaking till further orders. Pursuant thereto, undertakings have been filed by the two guarantors which are far from satisfactory. They are identically worded except for the schedule of properties in which the equity shares and their value have been set out. The undertaking is to the following effect: "In compliance of the said order, I annex hereto a schedule of properties and assets owned and possessed by me and I declare that I am the sole owner of the said properties and assets. I give an undertaking that I will not alienate, transfer, dispose of or deal with the said properties and assets until further order of this hon'ble court. "in the schedule, certain shares of a limited company and the value thereof has been stated. The deponent does not state that except the property shown in the schedule, he has no other property. The undertaking is, therefore, far from satisfactory.;