Madras High CourtAPPLN/197/2016closed

The Official Assignee v. S. Arjunlal Sunderdas

2026-02-27Honourable Mr Justice C.V. Karthikeyan,Honourable Mr.Justice K.Kumaresh Babu5 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 17.04.2026

CORAM

THE HON'BLE MR JUSTICE C.V. KARTHIKEYAN AND THE HON'BLE MR.JUSTICE K.KUMARESH BABU in I.P.No.25 of 2014 The Official Assignee High Court Madras ..Applicant(s) Vs

1. S. Arjunlal Sunderdas 23, Anderson Road Nungambakkam Chennai-6

2. B V Reddy & Sons BV Reddy Colony Chittoor A P 517001 ..Respondent(s) To direct the 2nd respondent to pay a sum of Rs.1,21,25,000/- with interest at 18% P.A. from 21.04.2014 till date of realization with cost of the recovery proceedings.

For Applicant(s):

M/s.K.V.Ananthakrushnan Assisted by M/s.A.Janani For Respondent(s):

M/s.Anna Mathew For M/s.Menon

ORDER

(Order of the Court was made by K.Kumaresh Babu J.) This matter is listed under the caption "For Being Mentioned" at the instance of the learned counsel for the respondents.

2. Heard both sides.

3. Considering the submissions made, paragraph Nos.3 to 10 shall be replaced with the following paragraphs:

"3. The respondents had been adjudicated to pay a sum of Rs.1,58,22,500/- (Rupees One Crore Fifty-Eight Lakhs TwentyTwo Thousand and Five Hundred only). The respondents have independently made a claim as against the insolvent and has also been adjudicated to be entitled to a dividend as declared in Claim No.75 of 2016 to the tune of Rs.3,67,50,000/-

4. The learned counsel appearing for the respondents had sought set-off of all the debts that he had been adjudicated with against the claim to which he is entitled and to pay the difference that had already been declared in his favour.

5. The learned counsel appearing for the Official Assignee would have no objection to disbursing the said amount.

6. In such view of the matter, there shall be a direction to disburse a sum of Rs.2,09,27,500/- (Rupees Two Crores Nine Lakhs Twenty Seven Thousand and Five Hundred only), which is the amount after set-off of the amount payable by the respondents to the insolvent. Such amount shall be paid within a period of two weeks.

7. For better appreciation, the tabular column admitted by the parties is extracted hereunder:

8. In fine, this application stands closed. No costs."

The above correction shall be carried out and fresh order copy shall be issued.

(C.V.K.,J.) (K.B.,J.) 17.04.2026 gpa

C.V.KARTHIKEYAN, J.

AND K.KUMARESH BABU, J.

gpa in I.P.No.25 of 2014 17.04-2026