SAGAR CONSTRUCTIONS, Vs. S.B. SIVAKAMIAMMAL

JUDGEMENT

(1.) These appeals are filed against the order dated 18.09.2009 passed by this Court in A. Nos. 1293 and 1294 of 2008 in E.P. No. 132 of 2003 and A. Nos. 1295 and 1296 of 2008 in E.P. No. 134 of 2003.

(2.) The facts arising out of this appeals are as under:-

(3.) The learned counsel for the appellants has submitted that the learned single Judge had failed to note that the decree dated 30.04.2001 made in C.S.No.895 of 2000 is a composite decree which imposed mutual obligations on both parties such that performance by one is conditional upon performance of the other. He further stated that even though the findings of the learned single Judge that the proceedings under the Insolvency Act are distinct from the proceedings under CPC, are correct, it is not correct on the part of learned single Judge in failing to note that the findings of the Division Bench in the OSAs as to the nature and character of the decree passed in C.S.No. 895 of 2000 is a judgment pronounced inter parties and therefore binding upon the respondents. He finally submitted that even as per the finding of the Division Bench of this Court in O.S.A.Nos. 202 and 203 of 2005 the decree grants rights to both the parties and imposes obligation upon both parties, the learned single Judge has erred in not considering the said proposition properly. Stating so, he submitted that these appeals have to be allowed.