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IN THE HIGH COURT OF TELANGANA
K.LAKSHMAN
Kanolla Shravan – Appellant
Versus
Shriram Chits India Pvt. Ltd. – Respondent
ORDER :
K. Lakshman, J.
Heard learned counsel for the petitioner and Sri K.S.Sai Pavan, learned counsel for the respondent No.1. Perused the record.
2. This Civil Revision Petition is filed under Section 115 of C.P.C. challenging the attachment order, dated 07.11.2023 in E.P.No.322 of 2022 in ARB.No.1093 of 2021 passed by the IV Additional Junior Civil Judge (Excise) at Karimnagar.
3. Respondent No.3 is the subscriber of the Chit with respondent No.1. Petitioner and Respondent Nos.4 to 7 are the guarantors to the said Chit Funds. Respondent No.1 has filed an application under Section 64 of the CHIT FUNDS ACT , 1982 (for short ‘the Act, 1982’) vide ARB.No.1093 of 2021 before the Chit Arbitrator/Deputy Registrar of Chits, Karimnagar, claiming an amount of Rs.15,46,682/- along with interest. Learned Chit Arbitrator has passed an award, dated 04.08.2022 holding that the petitioner and respondent Nos.3 to 7 are jointly and severally liable to pay the said amount i.e., Rs.15,46,682/- with interest @ 18% p.a. on the principal amount of Rs.13,99,260/- from the date of filing of the dispute till the date of realization of the said amount.
4. Thereafter, respondent No.1 has filed an execution
The court upheld that salary attachment orders must comply with statutory provisions and cannot exceed the awarded amount from judgment debtors, emphasizing the co-extensive liability of sureties and....
The executing court must adhere to prescribed statutory procedures in recovery actions, especially in avoiding double recovery from judgment debtors.
The liability of co-sureties is co-extensive with that of the principal debtor, allowing the decree holder to recover the awarded amount from any or all judgment debtors.
The liability of co-sureties is co-extensive with that of the principal debtor unless otherwise provided by contract, allowing the decree holder to recover from any or all judgment debtors.
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 decree holder can recover the awarded amount from any judgment debtor, including guarantors, as their liability is co-extensive with that of the principal debtor.
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