A Venu Gopal Rao, Hyd vs M/S. Margadasri Chit Fund Pvt ...
2021 Latest Caselaw 1673 Tel

          THE HON'BLE SRI JUSTICE B. VIJAYSEN REDDY

            CIVIL REVISION PETITION No.698 of 2017

ORDER:

The sixth judgment debtor in EP.No.819 of 2016 on the file of

the II Additional District Judge, L.B. Nagar, Ranga Reddy District,

is the petitioner in this revision. The impugned order dated 20.01.2017

is passed by the Court below directing to issue fresh Rule 43

attachment against the EP schedule property with permission to break

open the lock of the premises.

2. This Court, by order dated 10.02.2017, granted interim stay

subject to the petitioner depositing 50% of the EP dues in E.P.No.819

of 2016 within a period of four weeks. It appears, subsequently,

the petitioner filed an application for extension of time in

CRPMP.No.2006 of 2017 and this Court, by order dated 21.04.2017,

extended the time by six weeks to deposit the balance amount with a

liberty to the respondent No.1 to withdraw the amount unconditionally.

3. Mr. M.K. Raj Kumar, learned counsel for the petitioner, submits

that pursuant to the extension order, the balance amount was

deposited and now his client is willing to deposit the remaining 50% of

the amount, which works out to Rs.22,04,171/-. The learned counsel

submits that there may be variation in the exact figure and he does

not have ready instructions to confirm the figure. However, in view of

the current pandemic situation, it is difficult for his client to mobilize

funds and as such prays that his client be permitted to deposit the

balance of the EP amount in four equal instalments.

4. Mr. Gopal, learned counsel, representing the counsel for the

respondent No.1, submits that his client does not have any objection if

reasonable time is given to the petitioner to pay the balance of the EP

amount.

5. In view of the above, the petitioner is directed to deposit the

balance of the EP amount in four equal instalments as under:

First installment of Rs.5,50,000/- shall be deposited on

18.07.2021, the second installment of Rs.5,50,000/- shall be

deposited on 18.08.2021; the third installment of Rs.5,50,000/- shall

be deposited on 18.09.2021 and the fourth installment of

Rs.5,54,171/- shall be deposited on 18.10.2021. However, it is made

clear that if there is any variation in the figure quoted by the learned

counsel, it is open for the parties to file a calculation memo before the

Court below and the left over balance amount shall be deposited or

adjusted in the final installment. As and when the installment amounts

are deposited, the respondent/decree holder is given liberty to

withdraw the same unconditionally.

The civil revision petition is disposed of. Pending miscellaneous

petitions, if any, shall stand closed. There shall be no order as to

costs.

__________________ B. VIJAYSEN REDDY, J June 18, 2021 DSK