RADHEY SHYAM GUPTA versus PUNJAB NATIONAL BANK & ANR.

RADHEY SHYAM GUPTA versus PUNJAB NATIONAL BANK & ANR.

Fixed deposit receipts derived from pension and gratuity amounts retain their exempt character under proviso (g) to Section 60(1) CPC and cannot be attached for satisfaction of a court decree. The High Court committed a jurisdictional error in directing satisfaction of the decree from such fixed deposits and altering the execution mode prescribed by the trial court.

Parties
Appellant: Radhey Shyam Gupta; Respondent No.1: Punjab National Bank; Respondent No.2: Durga Prasad
Jurisdiction
India
Judgment Date
04 November 2008
Procedural Posture
Civil Appeal / Appeal Against High Court Orders in Execution Proceedings
Outcome
Appeals allowed
Legal Topics
Attachment of Property, Execution of Decrees, Pension and Gratuity, Revisional Jurisdiction, Guarantee Liability
Civil Procedure Banking Law Debt Recovery Attachment of Property Execution of Decrees Pension and Gratuity Revisional Jurisdiction Guarantee Liability

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Parties

Radhey Shyam Gupta

Appellant

Punjab National Bank

Respondent No.1

Durga Prasad

Respondent No.2

Procedural Posture

Civil Appeal / Appeal Against High Court Orders in Execution Proceedings

Legal Issues

  1. 1 Whether fixed deposit receipts derived from pension and gratuity amounts can be attached for recovery of decretal amounts.
  2. 2 Whether the High Court erred in directing satisfaction of a portion of decree from fixed deposit receipts and altering the recovery mode set by the trial court.
  3. 3 Scope of revisional jurisdiction of the High Court under Section 115 CPC in altering execution proceedings.

Ratio Decidendi

Fixed deposit receipts derived from pension and gratuity amounts retain their exempt character under proviso (g) to Section 60(1) CPC and cannot be attached for satisfaction of a court decree. The High Court committed a jurisdictional error in directing satisfaction of the decree from such fixed deposits and altering the execution mode prescribed by the trial court.

Court Disposition

Appeals allowed

Orders

  • Order of High Court set aside
  • Order of Executing Court restored