Disposed¶25

M/s.Vijay Tanks and Vessels Ltd., v. M/s.Southern Petrochemals Industries Corporation Limited

Madras HC21 Jan 2025A/2854/2022

Case brief

AI extract

What is this about?

Closure of execution petition E.P.DR.No.66080 of 2022 (decree in C.S.No.681 of 2001) in the DR stage on the decree holder's submission that the judgment debtor had satisfied the award/decree; asset-disclosure application (Order XXI Rule 41(2) CPC / Order XIV Rule 10(33) O.S. Rules) against Managing Director of Southern Petrochemicals Industries Corporation Ltd. consequently closed; applicant Vijay Tanks and Vessels Ltd.; Madras High Court; P.B. Balaji J.; dated 21/1/2025.

What did the court decide?

No affirmative relief; E.P.DR.No.66080 of 2022 was closed in the DR stage and Application No.2854 of 2022 was closed consequentially, upon the decree holder's counsel's submission that the award/decree stood satisfied. ¶25

M/s.Vijay Tanks and Vessels Ltd., Vs M/s.Southern Petrochemals Industries Corporation Limited — Madras HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

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Issue for consideration

Whether E.P.DR.No.66080 of 2022, filed for realisation of the decree in C.S.No.681 of 2001, could be closed, the learned counsel for the decree holder having submitted that the respondent judgment debtor has satisfied the award/decree. +1 more

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Court's answer

Consequently, Application No.2854 of 2022 (the asset-disclosure application under Order XIV Rule 10(33) O.S. Rules / Order XXI Rule 41(2) CPC) is closed.

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Ratio / Principle

Recording the learned counsel's submission that the respondent judgment debtor has satisfied the award/decree, E.P.DR.No.66080 of 2022 is closed in the DR stage itself.

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Detailed headnote1 paragraphs

MADRAS HIGH COURT (P.B. Balaji, J.) — Application No.2854 of 2022 in E.P.DR.No.66080 of 2022 (arising out of the decree in C.S.No.681 of 2001); dated 21/1/2025. The applicant/decree holder, M/s.Vijay Tanks and Vessels Ltd., had filed Application No.2854 of 2022 under Order XIV Rule 10(33) of the O.S. Rules and Order XXI Rule 41(2) of C.P.C. praying that the Managing Director of the respondent/judgment debtor, M/s.Southern Petrochemicals Industries Corporation Limited, be directed to appear before the Court and disclose on affidavit the details of fixed assets, current assets and bank accounts; the connected E.P. sought attachment and sale of the respondent's property for realisation of the decree amount. On the hearing date, learned counsel appearing for the decree holder submitted that the respondent judgment debtor had satisfied the award/decree and that the E.P. could be closed. Recording that submission, the Court closed E.P.DR.No.66080 of 2022 in the DR stage itself and, consequently, closed Application No.2854 of 2022. No case law was considered and no costs or amounts were dealt with.

M/s.Vijay Tanks and Vessels Ltd., v. M/s.Southern Petrochemals Industries Corporation Limited

Case brief

What is this about?

What did the court decide?

M/s.Vijay Tanks and Vessels Ltd., v. M/s.Southern Petrochemals Industries Corporation Limited

Case brief

What is this about?

What did the court decide?

Why is it important?

What the court decided

Issues for consideration

Statutes considered

Procedural history

Parties & counsel

Coram

Case details

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