Back
K. LAKSHMAN
Bijili Thirupathi – Appellant
Versus
Shriram Chits Private Limited – Respondent
ORDER :
1. Heard Mr. Papaiah Peddakula, learned counsel for the petitioners and Mr. N. Srikanth Goud, learned counsel for respondent No. 1. As per cause title, respondent No. 6 is not necessary party, while respondent Nos. 2 to 5 are only the Disbursing Officers of the petitioners and notices to them are dispensed with.
2. This revision is filed under Section-115 of the CPC challenging the order of attachment dated 21.03.2024 passed by learned Principal Junior Civil Judge, Karimnagar in E.P. No. 60 of 2024 in ARB No. 899 of 2021.
3. On the application filed by respondent No. 1, the Arbitrator/Deputy Registrar of Chits, Karimnagar, had passed an award dated 24.03.2023 for an amount of Rs.18,30,173/- with interest @ 18% per annum on the principal amount of Rs.15,91,020/- against the petitioners herein and respondent No. 6 herein ARB No. 899 of 2021. He has also held that respondent No. 1 herein shall recover the said amount by way of sale of movable and immovable properties belonging to them or by attachment of salaries or by any other mode of execution as per law.
4. Respondent No. 1 herein had filed an execution petition vide E.P. No. 60 of 2024 in ARB No. 899 of 2021 seeking execution
The execution of an arbitral award must proportionately consider the liabilities of co-sureties and cannot impose total deductions from salaries.
The liability of co-sureties is co-extensive with that of the principal debtor unless otherwise stated, and execution procedures must adhere to statutory requirements and prior legal precedents.
The liability of co-sureties is co-extensive with that of the principal debtor, and execution must consider proportionate recovery from all judgment debtors.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
