Dismissed

The Official Assignee v. S.Arjunlal Sunderdas

Madras HC11 Oct 2023EP/91/2019

Case brief

AI extract

What is this about?

The court recorded full satisfaction of a decree in an execution petition after the judgment debtor settled the claim via an installment plan. The execution petition was closed, and the attachment on the second respondent's bank account was lifted.

What did the court decide?

Execution petition closed; decree recorded as satisfied; garnishee attachment on 2nd respondent's bank account lifted.

The Official Assignee Vs S.Arjunlal Sunderdas — Banking and Recovery | Madras HC (2023)

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E.P.No.91 of 2019 in A.No.110 of 2016 in I.P.No.25 of 2014 Dr.G.JAYACHANDRAN,J.

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C.V.KARTHIKEYAN,J.

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Pending Execution Petition, the Judgment Debtor has settled the

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claim by way of compromise. The Official Assignee has filed a memo

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recording full satisfaction in the following manner:-

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“The counsel for the Official Assignee states as follows:

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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.110 of 2016.

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2.Pending EP proceedings, the Judgment Debtor paid a

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sum of Rs.25,00,000/- as follows:-

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*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

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https://www.mhc.tn.gov.in/judis

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3.On the basis of the above payment the decree passed in the above application No.110 of 2016 has been fully satisfied.

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4.In the EP, attachment of Bank account of the 2^nd respondent is effected. In view of the settlement, the Garnishee Bank attachment made against the 2^nd respondent's bank account may be raised.

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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.110 of 2016 and terminate the E.P.No.91 of 2019 and thus render justice.”

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Recording the same, this Execution Petition is closed. Attachment

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Order issued to the Garnishee Kotak Mahindra Bank Limited, Anna Nagar Branch, Chennai, is raised.

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[Dr.G.J.J.] [C.V.K.J.] 11.10.2023

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ari

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https://www.mhc.tn.gov.in/judis

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Dr.G.JAYACHANDRAN,J. & C.V.KARTHIKEYAN,J.

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ari

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E.P.No.91 of 2019 in A.No.110 of 2016 in I.P.No.25 of 2014

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11.10.2023

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https://www.mhc.tn.gov.in/judis

The Official Assignee v. S.Arjunlal Sunderdas

Case brief

What is this about?

What did the court decide?

The Official Assignee v. S.Arjunlal Sunderdas

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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