The court closed an execution petition filed for recovery. The Judgment Debtor settled the claim via compromise payment. The Official Assignee recorded full satisfaction and prayed for termination of the petition and lifting of asset attachment.
Execution petition closed; attachment of 2nd respondent's bank account lifted.
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E.P.No.90 of 2019 in A.No.107 of 2016 in I.P.No.25 of 2014 Dr.G.JAYACHANDRAN,J.
&
C.V.KARTHIKEYAN,J.
Pending Execution Petition, the Judgment Debtor has settled the
claim by way of compromise. The Official Assignee has filed a memo
recording full satisfaction in the following manner:-
“The counsel for the Official Assignee states as follows:
1.The above E.P. Is filed for recovery of a sum of Rs.52,00,000/- being the amount to be realized after an order dated 26.04.2018 made in Application No.107 of 2016.
2.Pending EP proceedings, the Judgment Debtor paid a
sum of Rs.25,00,000/- as follows:-
| Date | Amount |
|---|---|
| 26/12/2019 | 5,00,000 |
| 17/03/2020 | 5,00,000 |
| 09/10/2020 | 5,00,000 |
| 16/03/2023 | 5,00,000 |
| 24/03/2023 | 5,00,000 |
| Total Towards Principle |
25,00,000 |
| 20% interest on principle as followed in other cases (paid on 04.10.2023) |
5,00,000 |
| Total towards full and final settlement |
30,00,000 |
3.On the basis of the above payment the decree passed in the
above application No.107 of 2016 has been fully satisfied.
4.In the EP, attachment of Bank account of the 2nd respondent is effected. In view of the settlement, the Garnishee Bank attachment made against the 2nd respondent's bank account may be raised.
5.It is therefore prayed that this Hon'ble Court may be pleased to record full satisfaction of the decree dated 26.04.2019 in Appl.No.107 of 2016 and terminate the E.P.No.90 of 2019 and thus render justice.”
Order issued to the Garnishee Kotak Mahindra Bank Limited, Anna Nagar Branch, Chennai, is raised.
[Dr.G.J.J.] [C.V.K.J.] 11.10.2023
ari
Dr.G.JAYACHANDRAN,J. & C.V.KARTHIKEYAN,J.
ari
E.P.No.90 of 2019 in A.No.107 of 2016 in I.P.No.25 of 2014
11.10.2023
Official Assignee & Ors.
Judgment Debtor & Ors.
Dr. G. Jayachandran
C. V. Karthikeyan
As recorded by the court registry
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