MOHAMMED MAHMOOD Vs. MARGADARSHI CHIT FUND PVT. LTD.

JUDGEMENT

(1.) This Appeal Suit is filed by the appellants - respondents - D.Hrs. aggrieved by the order in E.A.No.197 of 2019 in E.P.No.163 of 2016 on the file of the II Additional District Judge, Rangareddy District at L.B.Nagar in Dispute No.346 of 2012 dtd. 17/11/2020.

(2.) The brief facts of the case are that the respondent No.1 - Chit Fund Company filed an arbitration case being Dispute No.346 of 2012 before the Deputy Registrar of Chits / Arbitrator, Rangareddy District (West) seeking to recover an amount of Rs.16,41,060.00 against respondents 2 to 6 herein. After hearing the matter, an award was passed by the Deputy Registrar of Chits / Arbitrator on 24/8/2013. Pending the above Dispute No.346 of 2012 before the Deputy Registrar, the respondent No.1 filed an application being I.A.No.78 of 2013 seeking attachment of the EP schedule property and the same was allowed by attaching the immovable property of the respondent No.4 - J.Dr.No.3 herein. Subsequently, for execution of the award passed in Dispute No.346 of 2012, the respondent No.1 herein filed an Execution Petition being E.P.No.163 of 2016 seeking sale of EP schedule property, which was already attached in I.A.No.78 of 2013 before the learned Arbitrator - Deputy Registrar of Rangareddy District (West). At the stage of proclamation, the petitioners - appellants herein filed a claim petition being E.A.No.197 of 2019 in E.P.No.163 of 2016 claiming the EP schedule property. After hearing the matter, E.A.No.197 of 2019 was dismissed by the II Additional District Judge, Rangareddy District by order dtd. 17/11/2023. Challenging the said order, the present appeal is preferred by the petitioners - appellants herein.

(3.) Heard Sri Vedula Srinivas, learned Senior Counsel representing Ms.Vedula Chitralekha, learned counsel for the appellants on record and Sri P.Durga Prasad, the learned Senior Counsel for the respondent No.1.