L.NARASIMHA REDDY
M. A. Raoof – Appellant
Versus
Vishnu Chit Funds Pvt. Ltd. , Hyderabad – Respondent
Judgment Debtor No.4 is the petitioner in this C.R.P. The 1st respondent filed O.S. No. 4277 of 1997 on the file of the VI Junior Civil Judge, City Civil Court, Hyderabad, against the petitioner and respondents 2 to 4, for recovery of money, on the strength of a chit transaction between it and the 2nd respondent. Respondents 3 and 4 and the petitioner stood as guarantors. After the suit was decreed, and the decree became final, the 1st respondent filed E.P.No.28 of 2010, only against the petitioner, though rest of the judgment-debtors were also shown as parties. The petitioner filed counter opposing the E.P., by raising several grounds. The Executing Court allowed the same, through order, dated 25.04.2011. Hence, this revision.
Heard learned counsel for the petitioner and learned counsel for the 1st respondent.
It is no doubt true that a decree-holder has the option to proceed against any of the judgment debtors, including those, who figure as sureties. However, at least in the suits instituted by chit fund companies, a different approach is warranted. The transaction is mainly between the chit fund company, on the one hand, and the prized subscriber, on the other. It is inciden
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.