Law:

Section:

(a) Compromise----Decision of matter on the basis of compromise/agreement between the parties---Status--When a lis is disposed of by the Court on the basis of a compromise between the parties, the order/ shall not be the one passed by the Court on the merits of the case, which always is based upon proper adjudication of the Court about the factual and legal controversy involved in the matter; such decision has altogether a different status, sanctity and legal value---Where, however, the case is decided on account of an agreement/compromise between the parties, even if approved by the Court, the validity of the order/ remains dependent upon its being the lawful agreement---Agreement/compromise, therefore, if challenged as being invalid and if it is so adjudged by the Court, such decision of the Court based upon the agreement shall automatically sink along with the annulment of the agreement/compromise. (b) Contract----Contract shall only be valid inter se the parties and no stranger thereto can be bound by the terms of the contract until and, unless such stranger has expressly or by necessary implication accepted the contract. (c) Civil Procedure Code (V of 1908)----O.XXI, R.30---Execution of decree for payment of money---Mortgaged property of a -debtor cannot be sold through private negotiation by the decree holder, in favour of a third party, even if such party claims any prior agreement of sale with the -debtor. (d) Civil Procedure Code (V of 1908)---O.XXI, Rr. 65 & 66---Execution of decree---When the Executing Court, has decided to attach and sell the property of a debtor under O.XXI, R.65, C.P.C. the sale has to be conducted, if it is not prescribed otherwise, through a public auction---When the Executing Court, in the present case, had taken a conscious decision to sell the property by auction and notice under O.XXI, R.66, C.P.C. was issued to the , debtor, which had neither been suspended nor set aside by the High Court, in the appeals of the other respondents, the Bank under the law had no power to circumvent the authority and the mode chosen by the Executing Court for the disposal of the property and to agree for selling the same in favour of other…

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