Dangeti Nageswara Rao v. M/S.Shriram City Union Finance Limited.
HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY AND HON'BLE SRI JUSTICE T.AMARNATH GOUD C.M.A.No.546 of 2018 Date:29.08.2018 Between:
Dangeti Nageswara Rao .....Appellant And:
M/s Shriram City Union Finance Ltd., reptd by its GPA Holder/ Authorised Signatory-P.Ravi Kiran and three others.
....Respondents Counsel for the appellant: Mr. P.Rajesh Babu Counsel for respondent No.1: Mr. Kunchem Maheswara Rao The Court made the following:
CVNR, J & TA, J CMA.No.546 of 2018 Dt:29.8.2018 JUDGMENT: (per Hon'ble Sri Justice C.V.Nagarjuna Reddy) This Civil Miscellaneous Appeal arises out of order, dated 11.12.2017 in O.P.(Arbn).No.25 of 2016 on the file of the Principal District Judge, East Godavari at Rajamahendravaram. At the hearing, Mr. P.Rajesh Babu, learned counsel for the appellant submitted that his client will be satisfied if he is granted the facility of repaying the amount payable under the Arbitral Award, vide A.C.No.190 of 2015, dated 29.12.2015, in reasonable instalments.
Mr. Kunchem Maheswara Rao, learned counsel for respondent No.1, agreed for repayment of the arbitral award amount by the appellant in six monthly instalments. In the light of the facts and circumstances of the case, we are of the opinion that interests of justice would be met if the appellant is permitted to pay the amount awarded under the said Arbitral Award in six monthly instalments commencing from 1st October, 2018. In the event of default of payment of any instalment on or before 1st of the succeeding month, the Civil Miscellaneous Appeal would stand dismissed leaving respondent No.1 free to execute the arbitral award. Subject to the above directions, the Civil Miscellaneous Appeal is disposed of.
CVNR, J & TA, J CMA.No.546 of 2018 Dt:29.8.2018 As a sequel to disposal of the Civil Miscellaneous Appeal, .No. 1 of 2018 filed for interim relief is disposed of as infructuous.
____________________________ JUSTICE C.V.NAGARJUNA REDDY ________________________ JUSTICE T.AMARNATH GOUD 29th August, 2018 DR