MARGADARSI CHIT FUND CO LTD Vs. SD FAYAZUDDIN

JUDGEMENT

(1.) In these two revisions, the petitioner- plaintiff, a Chit Fund Company, seeks to challenge the orders in IA.No. 214 of 1999 in O.S.NO. 305 of 1998 dated 17-4-1999 on the file of the Principal Senior Civil Judge at Warangal and in I.A.No. 1839 of 1999 in O.S.No. 61 of 1999 dated 26-10-1999 on the file of the I Additional Junior Civil Judge at Eluru, dismissing the applications purported to have been filed under Order 38 Rule 5 CPC seeking attachment as against the amounts of surety.

(2.) In the first revision, the petitioner- plaintiff filed the suit for recovery of amount of Rs. 3,60,980.00 from the defendant No. 1 towards recovery of the prize amount withdrawn in chit No. LT5TW-27 in view of default in payment of instalments. As per agreement dated 17-1-1998, the defendants 2 to 5 stood as sureties. In an independent chit No. LT05TW-31, the second defendant after subscribing for 23 months, committed default in paying the instalments from 24th instalment. Hence, as per the terms therein and by law, the petitioner having lien over these amounts sought attachment.

(3.) In the other revision, the suit is for recovery of Rs. 70,066.00 from defendant No. 1 towards drawn prize money in chit No. LT27ME3 in view of default in paying instalments. The other defendants 2 to 6 are sureties under the guarantee agreement dated 10-1-1998. Of them, the defendant No. 4 being the prize subscriber of another chit No. LTMEO4 for a sum of Rs. 85,000.00 the petitioner sought attachment against this amount.