Five applications in I.P.No.25 of 2014 for recovery of decreetal amounts totalling Rs.4,39,00,000 with interest were closed after the parties arrived at a one-time settlement of Rs.5,19,00,000. The decree holder waived a disputed claim of Rs.9,00,000 and full satisfaction was recorded.
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Appln.Nos.109, 168, 179, 187 & 237 of 2016 in
I.P.No.25 of 2014
Dr.G.Jayachandran, J. and
C.V.Karthikeyan, J.
These five applications are in respect of execution of the decree
filed as against the 2nd respondent who belong to same group of Company in
short known as: 'AR AP (P) Ltd.'
2. These five applications are filed for recovery of decreetal
amount as mentioned below with 18% interest p.a from the date of filing, till the date of realization.
| Name of the Debtor | Appln.Nos. | Amount |
|---|---|---|
| Hotel AR AP (P) Ltd | 109/2016 | 75,00,000 |
| A.Aravindan | 168/2016 | 1,00,00,000 |
| A.Prabhakaran | 179/2016 | 1,25,00,000 |
| P.Vijayalakshmi | 187/2016 | 30,00,000 |
| A.Ravindran | 237/2016 | 1,09,00,000 |
| Total | 4,39,00,000 |
3. Pending disposal of the Execution Petition, the decree holder
and the Judgement debtor had arrived at a compromise of one time settlement
and pursuant to that, as against the payment of Rs.4,39,00,000/-, towards the
Principal and proportionate interest at the rate of 18%, the decree holder agreed https://www.mhc.tn.gov.in/judis
to receive a sum of Rs.5,19,00,000/-. Accordingly, the Judgement debtor has made the following payments on 23.07.2024.
(i). Rs.36,60,000/- as against Application No.187/2016. (ii). Rs.1,20,60,000/- as against Application No.168/2016. (iii). Rs.1,50,60,000/- as against Application No.179/2016. (iv). Rs.1,20,60,000/- as against Application No.237/2016. (v). Rs.90,60,000/- as against Application No.109/2016.
4. Insofar as the 4th payment in Application No.237 of 2016, towards the Principal of Rs.1,09,00,000/- and interest, the Judgement debtor has disputed the debt of Rs.9,00,000/-, whereas agreed the debt of Rs.1,00,00,000/- alone.
5. The Official Assignee/Decree holder in order to buy peace and to honour the one time settlement, waives the claim of Rs.9,00,000/- in Application No.237 of 2016. The memo also filed by the 2nd respondent to that effect and same is taken on record.
6. In the light of the one time settlement and payment of
Rs.5,19,00,000/- towards full quit and settlement of the decree passed, these
Application Nos.109, 168, 179, 187 & 237 of 2016 are closed, recording the full satisfaction.
(Dr.G.J, J.) & (C.V.K, J.) 24.07.2024
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Dr.G.Jayachandran, J. and C.V.Karthikeyan, J.
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Appln.Nos.109, 168, 179, 187 & 237 of 2016 in I.P.No.25 of 2014
24.07.2024
Official Assignee
2nd Respondent (AR AP (P) Ltd group)
Hotel AR AP (P) Ltd
A.Aravindan
A.Prabhakaran
P.Vijayalakshmi
Dr.G.Jayachandran
C.V.Karthikeyan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
