Partly allowed

Maganti Nagaraju v. Shriram Finance Limited

Andhra Pradesh HC9 Sept 2024CRP/1938/2024

Case brief

AI extract

What is this about?

The High Court dismissed the Civil Revision Petition seeking to set aside an attachment order in an execution petition arising from an arbitration award. The Court held the Executing Court correctly noted the finality of the award and the petitioner's liability. Time was granted to the petitioner to pay the decretal amount.

What did the court decide?

The petitioner was granted eight weeks to deposit the decretal amount with the Executing Court or pay the respondent directly.

Maganti Nagaraju Vs Shriram Finance Limited — Execution and Attachment | Andhra Pradesh HC (2024)

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IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI

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TUESDAY, THE TENTH DAY OF SEPTEMBER TWO THOUSAND AND TWENTY FOUR

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PRESENT

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THE HON’BLE SRI JUSTICE R RAGHUNANDAN RAO AND THE HON’BLE SRI JUSTICE HARINATH.N

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CIVIL REVISION PETITION NO; OF 2024

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Petition under Section 115 of C.P.C. praying that in the circumstances stated in the grounds filed herein, the High Court may be pleased to beg to present the above Revision Petition in this Hon'ble Court aggrieved by the attachment Order dt: 31-07-2024 in E.P.No.1078 of 2023 in Arbitration Award No.324 of 2022 on the file of the Court of the IX Additional District & Sessions Judge Krishna at Machilipatnam.

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Between:

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Sru^STd d°at'S‘^a ^ R/°-D.Ne.2-176,

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...PETITIONER/JDR N0.I/RESPONDENT N0.I

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AND

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Fin'in'n2 H"''®'' (formerly known as Shriram Transoort Reco»oP°'’^’’i^"h Machilipatnam Branch, Rep.by its Branch locharge-cum-Authorized Signatory J Naaaraiii

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S/o.Narayana Rao D No 11/1 l^T Finnr J-f^agaraju Machilipatnam, Krishna DisM. ’ ’ ^^emmanaginpet.

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...RESPONDENT/ DHR/CLAIMANT

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yearn R/c^^NalrGudTu'^V^ 35

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...RESPONDENT/JDR N0.2/RESPONDENT No.2

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LA NO: 1 OF 7()9A

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Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to grant stay of all further proceedings including attachment

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APHC010365382024

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IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI

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[3488]

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(Special Original Jurisdiction)

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TUESDAY,THE TENTH DAY OF SEPTEMBER TWO THOUSAND AND TWENTY FOUR

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PRESENT

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THE HONOURABLE SRI JUSTICE R RAGHUNANDAN RAO

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THE HONOURABLE SRI JUSTICE HARINATH.N

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CIVIL REVISION PETITION NO: 1938/2024

Between:

MagantiNagaraju

...PETITIONER

AND

Shriram Finance Limited and Others ...RESPONDENT(S)

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Counsel for the Petitioner:

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1.SAI GANGADHAR CHAMARTY

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Counsel for the Respondent(S):

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The Court made the following Judgment:. (perHon'ble Sri Justice R. Raghunandan Raoj

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The petitioner herein had obtained a loan from the 1 St respondent for purchase of a lorry. Subsequently, the 1 St respondent had initiated arbitration proceedings on the ground that the petitioner had not repaid the loan taken by the petitioner. The said arbitration proceedings culminated an award being passed on 25.01.2023, directing payment of Rs.2,55,953/- with interest at the rate of 12% from the date of claim till realization.

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Execution Petition 2. The respondent had thereafter filed an No.1078 of 2023 in the Court of the IX Additional District and Sessions Judge, Krishna District at Machilipatnam.

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The Executing Court had by an order dated 31.07.2024 directed attachment of the property of the petitioner which^{issetoutintheschedule} given to the Execution Petition.

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Aggrieved by the said order of attachment, the petitioner has approached this Court by way of the present Civil Revision Petition. 5. Heard Sri Sai Gangadhar Chamarty, learned counsel for the petitioner.

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A,perusal of the order dated 31.07.2024 does not in^anymanner interference from this Court as the Executing Court^hadtakeninto require any fact that the award had become final and that the petitioner is account^he J s. *■ awarded amount. The Executing Court also took into^account liable to pay the the claim of the petitioner that the property which^{issoughttobeattacheddid} not belong to him and belongs to his wife and had negative the same.

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In the circumstances, we do not find any reasons^{tointerferewith} the order of the Executing Court.

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Sri Sai Gangadhar Chamarty, learned counsel for the^petitioner however submit that the petitioner is ready and willing^{topaythedecretal} amount and is taking steps to make such payments. He^{wouldfurthersubmit}

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Execution Petition had thereafter filed an 2. The respondent IX Additional District and Sessions Judge No.1078 of 2023 in the Court of the Krishna District at Machilipatnam.

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order dated 31.07.2024 directed 3. The Executing Court had by an the schedule of the petitioner which is set out in attachment of the property given to the Execution Petition.

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order of attachment, the petitioner has 4. Aggrieved by the said of the present Civil Revision Petition. approached this Court by way 5, Heard Sri Sai Gangadhar Chamarty, learned counsel for the

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petitioner.

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order dated 31.07.2024 does not in any manner 6. A,perusal of the the Executing Court had taken into interference from this Court as require any award had become final and that the petitioner is accountlhe fact that the . The Executing Court also took into account liable to pay the awarded amount to be attached did the claim of the petitioner that the property which is sought and belongs to his wife and had negative the same. not belong to him to interfere with 7. In the circumstances, we do not find any reasons the order of the Executing Court.

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Sri Sai Gangadhar Chamarty, learned counsel for the petitioner is ready and willing to pay the decretal however submit that the petitioner is . He would further submit amount and is taking steps to make such payments

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f %

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that the petitioner is undergone certain financial difficulty because of which he has not been able to clear the awarded amount.

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In such circumstances, the petitioner is granted eight (8) weeks of time to either deposit the E.P amount with the Executing Court or to pay the same directly to the 1®* respondent after obtaining proper receipt and to submit the said receipt to the Executing Court.

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Accordingly, this Civil Revision Petition is disposed^{of.Thereshall} be no order as to costs.

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As a sequel, pending miscellaneous petitions, if any,^{shallstandclosed.}

//TRUE COPY//

SD/-B.PRASADA RAO ASSISTANT REGISTRAR SECT OFFICER

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1- The IX Additional District & Sessions Judge Krishna at Machilipatnam. 2. One CC to SRI. SAI GANGADHAR CHAMARTY Advocate [OPUC]

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Two CD Copies

HIGH COURT

DATED:10/09/2024

ORDER

CRP.No.1938 of 2024

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X 2 2 NOV 20211 mr
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Current beciion . yOils

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DISPOSING OF THE CIVIL REVISION PETITION

Maganti Nagaraju v. Shriram Finance Limited

Case brief

What is this about?

What did the court decide?

Maganti Nagaraju v. Shriram Finance Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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