Indian Kanoon - Search engine for Indian Law

3. The property in question was purchased through the documents executed by one Shri N.K. Duggar, respondent No. 3, who was the allottee of the flat in question in pursuance to the conveyance deed registered on 23.8.1984. This is so set out in the agreement to sell dated 21.5.1984. It appears that around the same time or just before the transaction in question in respect of the aforesaid property, certain loan facilities were availed of from Canara Bank, Connaught Circus Branch, respondent No. 1 by respondent No. 2 to 4. Since the borrowers and the guarantor failed to adhere to the financial discipline of the bank, a suit bearing NO. 679/1986 was filed and was decreed on 7.11.1986 for a sum of Rs. 3,21,635.40 along with interest. The execution petition was filed almost two and a half years later as execution case No. 4/1989 and an order of attachment dated 29.4.1989 was issued in respect of the property in question as respondent No. 3 was the judgment debtor and registered owner of the property.