IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN & THE HONOURABLE MR. JUSTICE S.S.SATHEESACHANDRAN FRIDAY, THE 10TH JUNE 2011 / 20TH JYAISHTA 1933 RFA.No. 353 of 2009() -------------------------------- IA.6259/2005 & IA.6962/2008 IN OS.553/2005 of PRL.SUB COURT,THRISSUR .................... APPELLANT/CLAIM PETITIONER ---------------------------------------------- M/S.TRICHUR BEST SPINNERS (P) LTD., THANIKUDAM, KURICHIKARA POST, THRISSUR-680 028. REP.BY ITS MANAGING DIRECTOR. BY ADV. SRI.K.K.JOHN RESPONDENT(S): RESPONDENTS/PLAINTIFF AND DEFENDANT ------------------------------------------------------------------------------------------- 1. A.KRISHNAKUMAR, KODIKKAL HOUSE, CHEMBUKKAVU VILLAGE - DESOM, THRISSUR TALUK. 2. S.NAGAMANICKKAM, S/O.SUBBARAYA CHETTIYAR, MANAGING DIRECTOR, M/S.THANIKUDAM BEGAVATI MILLS LTD., P.O.KURICHIKARA, THRISSUR DISTRICT. R1 BY ADV. SRI.G.SREEKUMAR (CHELUR) THIS REGULAR FIRST APPEAL HAVING BEEN FINALLY HEARD ON 10/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss ORDER ON IA. NO.1837/2009 IN RFA. NO.353/2009 CLOSED 10/06/2011 SD/- THOTTATHIL B.RADHAKRISHNAN, JUDGE SD/- S.S.SATHEESACHANDRAN, JUDGE TRUE COPY P.S. TO JUDGE tss Thottathil B.Radhakrishnan & S.S.Satheesachandran, JJ. = = = = = = = = = = = = = = = = = = = = = = = = R.F.A.No.353 of 2009-F = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 10th day of June, 2011. Judgment Thottathil B.Radhakrishnan, J. 1.Read the earlier orders. 2.The appeal is against an order by which the Court below dismissed a claim petition on behalf of a private limited company in the course of execution of a money decree. The plea is that its assets cannot be brought to sale to satisfy the decree which is one passed personally against the Managing Director. 3.In the mist of very detailed arguments, it was suggested on 3.6.2011 that the matter could be negotiated and settled. The dispute is regarding the actual amount at which the settlement could RFA353/09 -: 2 :- be arrived at. Today, during submissions in court, we find that the properties have been shown to belong to the company. Under such circumstances, the parties made certain suggestions among themselves and also were persuaded by us to reach at a settlement through their counsel. 4.Resultantly, it is recorded that the decree will stand satisfied on the judgment debtor or the claim petitioner paying the decree holder an amount of Rs.3,15,000/-. Since amounts have already been deposited before the court below to cover the entire decree debt as it stands, we direct that the court below will release an amount of Rs.3,15,000/- to the decree holder and the remaining amount to the person who made the deposit. The claimant has no objection to such appropriation of the money deposited by it before the court below in terms of the earlier orders. The decree will thereupon be recorded as satisfied. In such event, the order impugned RFA353/09 -: 3 :- becomes unnecessary and would, hence, be treated as nonest. The appeal is ordered accordingly. Thottathil B.Radhakrishnan, Judge. S.S.Satheesachandran, Judge. Sha/1606