Sivaram Boppe 13 June 2022

To stop a decree

Respected Sir,

I took a loan of 7.5 lakhs by Mortgaging at Kakinada Cooperative Housing Bank, Kakinada in the year 2013. I have paid the EMIs but irregular due to irregularity in my job and irregularities in payment of salaries. Till now I paid 8.5 lakh and this entire amount was credited as penel interests on Principle amount due, interest due and penel interest due. Now the bank served a notice that I have to pay 15.5 lakhs and I tried to settle the issue by negotiating to pay only half of it by taking a personal loan. It is getting delayed due to low CIBIL score. Mean time the Bank may get the decree for auction of the property and recover the dues. Please advise me, how do I stop the auction if the Bank serves a decree notice. I have only one house that is in the hands of Bank and I don't have any assets and other financial resources to pay the amount immediately. Please sir, give me a solution to my problem Sir, I shall be thankful to you forever.

Looking forward for your valuable advise.

With Regards,'

B.Sivaram.

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1 Replies

Mahi Manchanda 24 June 2022

Hi,

Rule 5 of CPC provides for the stay of an execution;

Where the suit is pending in any Court -- in such circumstances if the Court finds the rights of parties are required to be adjudicated by the Court where such suit is pending and unless the rights are to be determined, the decree cannot be executed in such circumstances, Court can stay the execution proceeding.

Also, when an appeal has been filed by either of the parties, the appellate court may order stay of proceedings or stay on an execution of such decree.

The objective is to protect the interest of both the parties i.e. the decree-holder and the judgement-debtor. This decree is usually passed when both the parties are heard. However, under Rule 5(3): court have a power to make ex-parte orders in case of stay of an execution.

The executing (transferee) court can stay execution for a reasonable time. Such a stay is granted to enable the judgment debtor to apply to the (transferor) court which passed the decree or an appellate court for obtaining an order to stay execution or for any other order relating to the decree or execution. Th

I hope this answers your question

Have a good day!