Telangana High Court
CRP/1602/1999 of S.RAMIREDDY Vs P.OBUL REDDY AND 2 OTHRRS on 29 December 2009
SRI JUSTICE G.CHANDRAIAH C.R.P.NO.1602 OF 1999 O R D E R The matter arises under the Provisional Insolvency Act. The learned counsel appearing for the petitioner submitted that pending the revision at the request of the petitioner and the 2nd respondent, the disputes between the
THE HON’BLE SRI JUSTICE G.CHANDRAIAH
C.R.P.NO.1602 OF 1999
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O R D E R
The matter arises under the Provisional Insolvency Act. The learnedcounsel appearing for the petitioner submitted that pending the revision at therequest of the petitioner and the 2[nd] respondent, the disputes between thepetitioner and respondents 2 to 6 were settled out of the court by the eldersand well wishes of both the parties and as settled by the elders, the scheduleproperty was sold by the 2[nd] respondent under a registered sale deed dated2.12.2009 for a consideration of Rs.20,00,000/- and from the saleconsideration, the petitioner received Rs.9,00,000/- from the 2[nd] respondenttowards full and final settlement of his claim to the disputed property andhence the petitioner has no interest in prosecuting the revision, as he hadreceived the agreed amount from the 2[nd] respondent. Therefore, he soughtpermission to withdraw the revision. To this effect, the petitioner filed apetition in CRP.MP.No.8607/2009.
Having regard to the above submission of the learned counsel for thepetitioner, the CRP.MP.No.8607/2009 filed for withdrawal of revision, isallowed and consequently the revision is dismissed as withdrawn. No costs.
AVS ----------------------------
29—12—2009