THE HON’BLE SRI JUSTICE V. ESWARAIAH AND THE HON’BLE SRI JUSTICE NOUSHAD ALI C.M.A.No.38 of 2010 JUDGMENT: (per the Hon’ble Sri Justice V. Eswaraiah) Heard the learned counsel appearing for the appellant as well as the 1st respondent. The appellant is the 1st respondent in O.P.No.2164 of 2009 on the file of the III Additional Chief Judge, City Civil Court, Hyderabad. The 1st respondent herein filed the said O.P. under Section 9 (ii) (a) and (c) of the Arbitration and Conciliation Act, 1996, to direct the appellant to furnish security towards loan due amount of Rs.64,17,223/-, which is the total amount payable by the appellant on the vehicles/agreements mentioned in the petition. The court below vide its order, dated 16-12-2009, allowed the said O.P. by observing as follows:- “In the result, the petition is allowed directing the 1st respondent to furnish security for a sum of Rs.64,17,223/- and till such time or clearing of loan amount due by the 1st respondent, the prohibitory orders subsist.” Aggrieved thereby, the 1st respondent in the O.P. filed this appeal contending that he paid the entire loan amount, which has been finally settled for a sum of Rs.43,90,000/-. It is stated that no loan amount is due and payable to the 1st respondent. Learned counsel appearing for the 1st respondent also confirms the said statement made by the appellant stating that the 1st respondent received the entire loan amount due and payable by the appellant and, therefore, the appeal is liable to be allowed setting aside the judgment and decree in the said O.P. Recording the said statement, the appeal is allowed setting aside the judgment and decree in O.P.No.2164 of 2009, dated 16-12-2009, on the file of the III Additional Chief Judge, City Civil Court, Hyderabad. Consequently, the garnishee order stands discharged. There shall be no order as to costs. ________________ V.ESWARAIAH, J _______________ NOUSHAD ALI, J Date: 28-09-2010 Note: Issue C.C. in two days (B/o) Prv