[Civil Appeal No. 161 of 2014 arising out of SLP (C) No.23000 of 2010]. [Civil Appeal No. 162 of 2014 arising out of SLP (C) No.26550 of 2010]. On 11.9.1989, The Allahabad Bank (hereinafter referred to as 'the Bank') sanctioned a loan of Rs.12.70 lac to M/s. Amar Timber Works, a partnership firm having three partners, Jagmohan Singh, Payam Shoghi andDev Kumar Sinha. The above loan was sanctioned to M/s. Amar Timber Works,after its partners had mortgaged certain properties to secure the loan amount. Since the loan amount was not repaid in compliance with the commitment made by M/s. Amar Timber Works, nine years later, in 1998, the Bank preferred Original Application No.107 of 1998 before the Debt Recovery Tribunal for the recovery of the Bank's dues. The above Original Application was allowed on 21.11.2000. Accordingly, a direction was issued for the recovery of Rs.75,75,564/- from M/s. Amar Timber Works. For the execution of the order passed by the Debt Recovery Tribunal, the Bank initiated recovery proceedings on 28.11.2000. During the pendency of the recovery proceedings, Jagmohan Singh, one of the partners of M/s. Amar Timber Works, died (on 27.1.2004). On 16.4.2004, the Recovery Officer attached plot No.722, located at Exhibition Road, P.S. Gandhi Maid an, Patna(hereinafter referred to as 'the property') measuring 1298 sq.ft.
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