- (1.) THIS writ petition has been preferred by the petitioner against the order dated 03.09.2010 passed by learned Additional District Judge (Fast Track), Rajsamand (for short 'the Executing Court' hereinafter), whereby the learned Executing Court has rejected the application preferred by the petitioner under section 47 read with section 151 of the Code of Civil Procedure.
(2.) BRIEF facts of the case are that the petitioner took a loan from the respondent -Bank and when the petitioner failed to repay the said loan amount, the respondent -Bank filed a mortgage suit against the petitioner as well as its guarantor. The suit was decreed by the Executing Court vide judgment and preliminary decree dated 17.11.2006, and thereafter a final decree was drawn by the Executing Court on 06.07.2007. The respondent -Bank filed execution proceedings against the petitioner before the Executing Court for the recovery of the amount of Rs.17,14,302/ -. In the execution proceedings, the petitioner filed objections under section 47 read with section 151 of the Civil Procedure Code and alleged that the Bank is applying a different rate of interest on the due amount than the rate of interest prescribed by the Reserve Bank of India (for short 'the RBI' hereinafter). The Bank has opposed the said objection of the petitioner, and the learned Executing Court, after hearing both the parties, has rejected the objections raised by the petitioner vide impugned order dated 03.09.2010.
(3.) THE learned counsel for the petitioner has argued that the Executing Court has grossly erred in rejecting the application of the petitioner without taking into consideration the objections raised by the petitioner in right perspective. The learned counsel for the petitioner has also argued that the Bank has not applied the applicable rate of interest as per the directions given by the trial court, while passing of the judgment and decree and, therefore, the objections filed by the petitioner were liable to be allowed but the Executing Court has rejected the application of the petitioner without taking into consideration the approved rate of interest of the RBI.;