K.Ramesh v. Eshen Finance,

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 28.04.2023

CORAM

THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR and C.M.P.(MD).No.9594 of 2023 1.K.Ramesh 2.K.Palaniammal ... Appellants Vs.

Eshen Finance, represented by its Managing Partners, KAS.Esvaramurthi, S/o.A.Somasundaram, and E.Shembakavalli, W/o.KAS.Esvaramurthi.

... Respondent PRAYER: The Civil Miscellaneous Appeal is filed under Order 43 Rule 1(q) of the Civil Procedure Code, against the fair and decretal order passed in I.A.No. 639 of 2019 in O.S.No.148 of 2019, dated 24.01.2023 on the file of the Principal District Court, Karur.

For Appellants : Mr.H.Arumugam For Respondent : Mr.Raguvaran Gopalan .

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J U D G M E N T

Challenging the order of attachment passed by the Principal District Court, Karur in I.A.No.639 of 2019 in O.S.No.148 of 2019, dated 24.01.2023, the present appeal has been filed.

2. As against the appellants, three suits have been filed for recovery of a sum of Rs.40,00,000/-. The suits were proceeded on the basis that the appellants have borrowed amount on promissory note and also made an endorsement acknowledging the same and extended the time for paying the amount within a period of limitation. On the earlier round of litigation, the property of the appellants to an extent of 76 cents has been produced as security, for the said amount. Thereafter, not satisfied with the same, an application has been taken out to attach the remaining property of the appellants. The appellants have also given a security to an extent of 28 cents, which has been properly developed as house sites. However, the trial Court, taking note of the guideline value of the sites and based on the market value, has ordered for attachment of the remaining property. Challenging the same, the present appeal has been filed.

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3. The learned counsel appearing for the respondent fairly submitted that apart from 76 cents already given as security, being satisfied with the remaining 28 cents towards security, he is not pressing for the attachment of the remaining property.

4. In such a view of the matter, since the appellants have already given a security for 28 cents, the same shall be taken as security. Hence, the order of attachment in respect of the remaining property stands set aside and the trial Court is directed to expedite the trial and complete the same as directed by this Court in C.R.P.(MD).Nos.604 and 607 of 2023, dated 06.03.2023.

5. With the above observations, the Civil Miscellaneous Appeal is disposed of in the admission stage itself, with the consent of both the parties. No costs. Consequently, the connected Miscellaneous Petition is closed. 28.04.2023 akv 3/4

N.SATHISH KUMAR ,J.

akv To The Principal District Court, Karur.

C.M.A.(MD).No.445 of 2023 28.04.2023 4/4