Raghunath Rai Bareja And Another vs Punjab National Bank And Others

The Supreme Court held that under Article 136 of the Limitation Act, 1963, the period for executing a decree is 12 years from the date it becomes enforceable, which in this case was 15.1.1987. The Court found that the Bank's execution petitions were filed beyond the limitation period, as the first execution petition was dismissed in 1990 and the subsequent petitions did not comply with legal requirements. Consequently, the Court upheld the Punjab & Haryana High Court's order transferring the execution proceedings to the Debt Recovery Tribunal, affirming the dismissal of the execution petitions as time-barred.