LAWS(MAD)-2018-8-40

T MOHAN Vs. SHRIRAM CHITS TAMIL NADU LTD

Decided On August 02, 2018
T Mohan Appellant
V/S
Shriram Chits Tamil Nadu Ltd Respondents

JUDGEMENT

(1.) The judgment debtor is the civil revision petitioner before this Court, challenging the order in E.A.No.208 of 2010 in E.P.No.21 of 2003 dated 01.04.2014, on the file of the learned I Additional Subordinate Judge, Madurai.

(2.) The case of Revision Petitioner/Judgment Debtor is that one Rajendran who is the friend of revision petitioners' son had taken Chit with 1st respondent chits for period of 40 months time for a sum of Rs. 5,00,000/, in which Rajendran had also become member and taken the chit in auction for a sum of Rs. 3,50,000/- and agree to repay the remaining terms installment. Further that said Rajendran had executed pro-note dated 18.01.2000 for a sum of Rs. 3,37,500/-, for which revision petitioner and his son Rajesh stood as guarantor and that for collateral security, the original documents in respect of property in R.S.No.69/2A, Nehru Street, Tahsildhar Nagar, Senthilnathan 4th Street, Managiri Village, Madurai belong to the revision petitioner and his wife were given to 1st respondent chit.

(3.) The further case of revision petitioner that the said Rajendran herein had properly paid 25 dues and thereafter he failed to pay the dues between 26 to 40. Hence, the 1st respondent chits had issued notice dated 16.05.2001 directing the said Rajendran to repay remaining amount of Rs. 1,84,840/-along with interest at the rate of 24%. But he did not pay. Since he had not turned up, 1st respondent chits had preferred C.D.No.129 of 2001 on the file of the Deputy Registrar of Chits, Madurai South under Section 64(1)(A) of Indian Chit Funds Act, 1982. In the said chit case an exparte award dated 21.01.2002 was passed and the revision petitioner was also directed to pay a sum of Rs. 1,95,631/- to the 1st respondent chits. The further case of revision petitioner he was not aware of said exparte award. On the other hand the 1st Respondent Chits filed an Execution Petition in E.P.No.21 of 2003 on the file of the learned I Additional Subordinate Judge, Madurai to execute the expartee award.