BATHI REDDY K Vs. V CHENCHU REDDY

JUDGEMENT

(1.) The petitioner, who is the Judgment- Debtor, filed this revision petition aggrieved by the orders dated 29th June, 2001 passed in E.A.No.149 of 2000 in E.P.No.10 of 1999 in O.S.No.4 of 1996 on the file of Senior Civil Judge, Srikalahasti, refusing to give set off for the amounts paid by him to the credit of E.P.No.10 of 1997 arising out of O.S.No.34 of 1995 filed by State Bank of India, Srikalahasti.

(2.) Heard both the Counsel.

(3.) The facts of this case are very interesting. Mr. V. Chenchu Reddy, the decree-holder in this suit, has taken a term loan from State Bank of India, Srikalahasti, by mortgaging the title deeds of the mill in the year 1984. During the subsistence of the mortgage, he sold half of the share to the petitioner herein for a consideration of Rs.7,02,000/- under Ex.A-1 dated 25-12-1992. Though it is stated that the entire sale consideration was paid in cash, it appears that the petitioner paid Rs.5,02,000/- in cash and executed a promissory note for Rs.2,00,000.00. Both of them seemed to have run the mill jointly for some time till 1995. Thereafter, Mr. Chenchu Reddy settled his property on his wife. Normally the settlee being lady and settler being the husband, the settler would be looking after the affairs of the mill. On 01-09-1995 the bank filed O.S.No.34 of 1995 for recovery of the money advanced to Mr. Chenchu Reddy through one P.S. Gopala Krishna Das. For reasons best known to Chenchu Reddy, he remained ex parte in the suit and the same was decreed on 21-03-1996 and final decree was passed on 07-04-1997. Thereafter, the Bank filed OEP No.10 of 1997 for realization of the decretal amount. At that stage, the petitioner and the decree-holder's (sic. J.Dr.'s) wife in whom the property was settled jointly filed claim petition in E.A.No.320 of 1998 that the decree-holder has no saleable interest in the mill. But the said E.A. appears to have not been pursued to its logical end and that application was dismissed on 18-06-1999. In the meantime, Mr. Chenchu Reddy got O.S.No.4 of 1996 filed by Mr. Gopal Krishna Das who appeared for the Bank in the earlier suit against the petitioner for recovery of an amount of Rs.2,00,000.00 with interest on the basis of promissory note, said to have been executed at the time of agreement of sale. As usual, the legal ingenuity was exhibited by both the parties by taking conflicting stands and rejecting various contentions raised by the petitioner herein, the suit was decreed on 06-07-1998. On an appeal in A.S.No.2171 of 1998 filed by the petitioner, this Court in CMP No.15200 of 1999 by order dated 9-8-1999 directed him to deposit Rs.1,10,000.00 together with interest and costs.