- (1.) THIS revision petition is directed against the order of the executing Court dismissing the Objection Petition preferred by Shri Gulshan Rai Sapra, present petitioner.
(2.) STATE Bank of India filed a suit for recovery of Rs. 26,685. 33 Paisa as on May 7, 1984 against M/s Vanita Gram Udyog Samiti, Gulshan Rai Sapra, present petitioner and six others, all of whom are members of the Society. M/s. Vanita Gram Udyog Samiti is a society registered under the Societies Registration Act, 1860. The suit was decreed by the Judgment and decree dated January 30, 1985 against defendants Nos. 2,3,4,6 and 8. The operative part of the decree reads as under: "it is ordered that a decree for the recovery of Rs. 26, 685. 33 P is passed in favour of the plaintiff and against the defendants Nos. 2,3,4,6 and 8 with interest @ 18% per annum since the filing of the suit till today with future interest at this rate till realisation. The amount shall be paid by the defendant No. 2 in instalments of Rs. 1000/- per month commencing from March, 1985. The first instalment shall be paid on or before 25. 3. 1985 and thereafter every instalment shall be paid by the 25th of every succeeding month. In case the defendant fails to make the payment of any two consecutive instalments, the plaintiff bank will be entitled to recover the remaining amount in lump sum. The defaulted instalment shall however be paid by the defendant along with the next instalment falling due. "
(3.) PETITIONER failed to comply with the terms of the decree and consequently, execution proceedings were initiated. The petitioner filed an Objection petition which, as noted above, has been dismissed by the impugned order.;