Satyabrata Sinha, J. - (1.) This appeal and the Civil Revision application arise out of an order dated 6th May, 1987 passed by Shri H. Paul, Subordinate Judge (Assistant District Judge), 3rd Court, Alipore whereby and whereunder the said learned court refused to confirm a court auction sale in respect of a property being part of Holding No. 136 i.e. former premises No. 149, Lansdown Road. As there was a doubt as regards maintainability of the appeal, the Life Insurance Corporation has filed an alternative revisional application under Section 115 of the Civil Procedure Code. The said revisional application has also been assigned to this bench for hearing along with the appeal.
(2.) Before proceeding to deal with the rival contentions, the fact of the matter in brief may be noticed. One Satya Prasanna Basu, the predecessor-in-interest of original defendants No. 1 to 7 executed a deed of mortgage dated 31st May, 1948 being premises No. 149, Lansdown Road, now known as Sarat Bose Road, Calcutta in favour of the appellant which is a statutory Corporation constituted under the Life Insurance Corporation of India Act, 1956. The appellant filed a Mortgage Suit against the respondents No. 1 to 7 which was registered as Title Suit No. 53 of 1963. A preliminary decree was passed in the said suit on consent by an order dated 19th June, 1967 for a sum of Rs. 59,715.21 p. with interest at the rate of 7% per annum with quarterly rests from the date of institution of suit till realisation and cost of the suit amounting to Rs. 2800/- only.
(3.) It was agreed that the decretal amount with interest and costs would be paid within 18 months in one or more instalments. As the decretal amount was not paid within the aforementioned period, a proceeding for drawing up of a final decree for sale of the mortgaged property was filed which was decreed on 8th November, 1971. Despite the same the judgment debtor did not pay the decretal amount which amounting to Rs. 1,14,978.97 p. as on 21st May, 1972. A Title Execution Case being Title Execution Case No. 9/72 was filed by the decree-holder against the Judgment-Debtor for sale of mortgaged property on 22.5.1972. In the said proceeding notices under Order 21 Rule 66 was served. On 27.3.1973 a proclamation for sale in local paper known as Alipore Barta was published fixing the date of auction sale on 22.5.73. On 2.4.73 the Judgment- Debtor Nos. 2 to 6 filed objection against valuation On 10.4.73 the Decree- Holder filed counter-objection in respect whereof both the parties were given liberty to publish their own valuation pursuant whereto the decree-holder put their valuation at Rs. 1,15,000/- whereas the judgment-debtors put their valuation at Rs. 3,50,000/-.;