AGOLAPU SHARADA Vs. SAIDARSHINI CHIT FUNDS

JUDGEMENT

(1.) Heard Mr. T. Ramchander Rao, learned counsel for the petitioners and Mr. R. Lakshmi Narsimha Rao, learned counsel for respondent No.1. Respondent Nos.2 to 6 are not necessary parties and the said fact is mentioned in cause title itself.

(2.) This revision is filed under Article - 227 of the Constitution of India challenging the order of attachment dtd. 19/3/2024 passed by learned IV Additional Junior Civil Judge, Karimnagar in E.P. No.22 of 2024 in ARB No.631 of 20223.

(3.) On the application filed by respondent No.1, the Arbitrator/Deputy Registrar of Chits, Karimnagar, had passed an award dtd. 6/5/2023 for an amount of Rs.4,26,647.00 with interest @ 18% per annum on the principal amount of Rs.3,85,268.00 against the petitioners herein and respondent Nos.2 to 5 herein ARB No.22 of 2022. He has also held that respondent No.1 herein shall recover the said amount by way of sale of movable and immovable properties belonging to them or by attachment of salaries or by any other mode of execution as per law.