Madras High CourtAPPLN/109/2016closed

The Official Assigee v. S.Arjunlal Sunderdas

2024-07-24Honourable Dr Justice G. Jayachandran,Honourable Mr Justice C.V. Karthikeyan4 pages

Appln.Nos.109, 168, 179, 187 & 237 of 2016 in I.P.No.25 of 2014 Dr.G.Jayachandran, J.

and C.V.Karthikeyan, J.

These five applications are in respect of execution of the decree filed as against the 2nd respondent who belong to same group of Company in short known as: 'AR AP (P) Ltd.'

2. These five applications are filed for recovery of decreetal amount as mentioned below with 18% interest p.a from the date of filing, till the date of realization.

Name of the Debtor Appln.Nos.

Amount Hotel AR AP (P) Ltd 109/2016 75,00,000 A.Aravindan 168/2016 1,00,00,000 A.Prabhakaran 179/2016 1,25,00,000 P.Vijayalakshmi 187/2016 30,00,000 A.Ravindran 237/2016 1,09,00,000 Total 4,39,00,000

3. Pending disposal of the Execution Petition, the decree holder and the Judgement debtor had arrived at a compromise of one time settlement and pursuant to that, as against the payment of Rs.4,39,00,000/-, towards the Principal and proportionate interest at the rate of 18%, the decree holder agreed

to receive a sum of Rs.5,19,00,000/-. Accordingly, the Judgement debtor has made the following payments on 23.07.2024.

(i). Rs.36,60,000/- as against Application No.187/2016. (ii). Rs.1,20,60,000/- as against Application No.168/2016. (iii). Rs.1,50,60,000/- as against Application No.179/2016. (iv). Rs.1,20,60,000/- as against Application No.237/2016. (v). Rs.90,60,000/- as against Application No.109/2016.

4. Insofar as the 4th payment in Application No.237 of 2016, towards the Principal of Rs.1,09,00,000/- and interest, the Judgement debtor has disputed the debt of Rs.9,00,000/-, whereas agreed the debt of Rs.1,00,00,000/- alone.

5. The Official Assignee/Decree holder in order to buy peace and to honour the one time settlement, waives the claim of Rs.9,00,000/- in Application No.237 of 2016. The memo also filed by the 2nd respondent to that effect and same is taken on record.

6. In the light of the one time settlement and payment of Rs.5,19,00,000/- towards full quit and settlement of the decree passed, these Application Nos.109, 168, 179, 187 & 237 of 2016 are closed, recording the full satisfaction.

(Dr.G.J, J.) & (C.V.K, J.) 24.07.2024 bsm

Dr.G.Jayachandran, J.

and C.V.Karthikeyan, J.

bsm Appln.Nos.109, 168, 179, 187 & 237 of 2016 in I.P.No.25 of 2014 24.07.2024