Lingampally Shiva Kumar v. Kapil Chit Funds Pvt Limited

THE HON'BLE SRI JUSTICE SANJAY KUMAR AND THE HON'BLE SRI JUSTICE U. DURGA PRASAD RAO CIVIL REVISION PETITION No.1952 of 2015 O R D E R : (per Hon'ble Sri Justice Sanjay Kumar) This Civil Revision Petition under Section 115 C.P.C. was filed by the Judgment Debtors in E.P.No.18 of 2015 in A.R.B.No.15 of 2014 on the file of the learned Senior Civil Judge at Bodhan.

2.

By docket order dated 18.04.2015, the Executing Court issued an attachment warrant against the movables of the Judgment Debtor Nos.2, 4 and 5. Aggrieved thereby, all the Judgment Debtors are before this Court.

3.

By order dated 04.06.2015, this Court granted interim stay of all further proceedings in the Execution Petition, subject to the condition that the petitioners/Judgment Debtors deposit a sum of Rs.2,50,000/- within a time frame. 4.

It is stated that the said conditional order has been complied with.

5.

Upon hearing the arguments of Sri T. Sujan Kumar Reddy, learned counsel for the petitioners/Judgment Debtors, and Smt. Ch. Sujata, learned counsel representing Sri P. Vishnuvardhana Reddy, learned counsel for the

respondent/Decree Holder, we find that no case is made out for interference with the Execution Proceedings. 6.

Sri T. Sujan Kumar Reddy, learned counsel for the petitioners/Judgment Debtors, thereupon fairly stated that sufficient time may be granted to the petitioners/judgment debtors to make good the dues payable to the respondent/Decree Holder.

7.

As per the counter filed by the respondent/Decree Holder, the dues of the petitioners/Judgment Debtors as on 27.06.2016 stood at Rs.7,50,646/-. In terms of the Award passed under the Chit Funds Act, 1982, further interest would have to be added to this amount.

8.

In that view of the matter, the Civil Revision Petition is disposed of directing the petitioners/Judgment Debtors to remit a sum of Rs.3,75,000/- to the respondent/Decree Holder within two months from today and the balance payable, after accretion of interest in terms of the Award, within two months thereafter.

In the event the petitioners/Judgment Debtors fail to make either of the aforestated payments, it would be open to the respondent/Decree Holder to proceed with the Execution Petition pending before the learned Senior Civil Judge at Bodhan. It is also made clear that this Court will not entertain any request for extension of time to make the

payments as stipulated above. Upon payment being made in terms of this order, the parties shall get the same recorded by the learned Senior Civil Judge at Bodhan in the pending execution proceedings.

9.

Pending miscellaneous petitions, if any, shall stand closed. No order as to costs.

_________________________ SANJAY KUMAR, J _____________________________ U. DURGA PRASAD RAO, J Date: 26.12.2016.

Msr

THE HON'BLE SRI JUSTICE SANJAY KUMAR AND THE HON'BLE SRI JUSTICE U. DURGA PRASAD RAO CIVIL REVISION PETITION No.1952 of 2015 26.12.2016 Msr