IN THE HIGH COURT OF JUDICATURE AT MADRAS
N. SATHISH KUMAR, J
L.Dharmalingam – Appellant
Versus
Margadarsi Chits Private Limited – Respondent
| Table of Content |
|---|
| 1. execution decree for recovery of amount. (Para 3) |
| 2. revision petitioners argue against execution. (Para 4) |
| 3. court discusses legal position of guarantors. (Para 5 , 6) |
O R D E R
Challenging the Order of Civil arrest passed by the Executing Court in the execution proceedings, the present Civil Revision Petition has been filed.
2. Brief background of the case is as follows :
The decree holder had filed a case before the Registrar of Chits for recovery of a sum of Rs.23,94,906/- and award has been passed for recovery of the said amount along with interest at the rate of 24% as per the contract and for cost of Rs.1,30,912/-. As the amount has not been paid, the execution has been levied as against the revision petitioners. A stand has been taken by the revision petitioners that the first judgment debtor has already given security for the award amount and without invoking execution against the first judgment debtor, execution proceedings cannot be proceeded as against the revision petitioners. According to them, they are only guarantors.
3. The executing Court after assessing the evidence produced on the side of the decree holder in this regard and satisfied itself that th
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.