The Court settled the dispute between the claim petitioner and the decree holder regarding the amount payable to satisfy a money decree through Negotiation.
Direction to the Court below to release Rs. 3,15,000/- to the decree holder; appeal treated as non est and dismissed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN & THE HONOURABLE MR. JUSTICE S.S.SATHEESACHANDRAN
FRIDAY, THE 10TH JUNE 2011 / 20TH JYAISHTA 1933
RFA.No. 353 of 2009() -------------------------------IA.6259/2005 & IA.6962/2008 IN OS.553/2005 of PRL.SUB COURT,THRISSUR
APPELLANT/CLAIM PETITIONER
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M/S.TRICHUR BEST SPINNERS (P) LTD., THANIKUDAM, KURICHIKARA POST, THRISSUR-680 028. REP.BY ITS MANAGING DIRECTOR.
BY ADV. SRI.K.K.JOHN
RESPONDENT(S): RESPONDENTS/PLAINTIFF AND DEFENDANT
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1. A.KRISHNAKUMAR, KODIKKAL HOUSE, CHEMBUKKAVU VILLAGE - DESOM, THRISSUR TALUK.
2. S.NAGAMANICKKAM, S/O.SUBBARAYA CHETTIYAR, MANAGING DIRECTOR, M/S.THANIKUDAM BEGAVATI MILLS LTD., P.O.KURICHIKARA, THRISSUR DISTRICT.
R1 BY ADV. SRI.G.SREEKUMAR (CHELUR)
THIS REGULAR FIRST APPEAL HAVING BEEN FINALLY HEARD ON 10/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
tss
ORDER ON IA. NO.1837/2009 IN RFA. NO.353/2009
CLOSED
10/06/2011
SD/- THOTTATHIL B.RADHAKRISHNAN, JUDGE SD/- S.S.SATHEESACHANDRAN, JUDGE
TRUE COPY
P.S. TO JUDGE
tss
Thottathil B.Radhakrishnan
&
S.S.Satheesachandran, JJ.
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R.F.A.No.353 of 2009-F
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Dated this the 10th day of June, 2011.
Judgment
Thottathil B.Radhakrishnan, J.
RFA353/09 -: 2 :-
be arrived at. Today, during submissions in court, we find that the properties have been shown to belong to the company. Under such circumstances, the parties made certain suggestions among themselves and also were persuaded by us to reach at a settlement through their counsel.
4.Resultantly, it is recorded that the decree will stand satisfied on the judgment debtor or the claim petitioner paying the decree holder an amount of Rs.3,15,000/-. Since amounts have already been deposited before the court below to cover the entire decree debt as it stands, we direct that the court below will release an amount of Rs.3,15,000/- to the decree holder and the remaining amount to the person who made the deposit. The claimant has no objection to such appropriation of the money deposited by it before the court below in terms of the earlier orders. The decree will thereupon be recorded as satisfied. In such event, the order impugned
RFA353/09 -: 3 :-
becomes unnecessary and would, hence, be treated as nonest. The appeal is ordered accordingly.
Thottathil B.Radhakrishnan, Judge.
S.S.Satheesachandran, Judge.
Sha/1606
1 issue framed by the court
Whether assets of a company can be used to satisfy a decree passed against its Managing Director.
M/S.TRICHIJ BEST SPINNERS (P) LTD.
A.KRISHNAKUMAR
S.NAGAMANICKKAM
THOTTATHIL B.RADHAKRISHNAN
S.S.SATHEESACHANDRAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
