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Y V Vishweshwar Rao (Advocate )     01 May 2009

Chit Fund Company REcovery

A Chit Fund Company seemingly filed EP agaisnt the  Orginal Debtor / Subscriber and  all the  Guarantors in one EP . The Chit Fund Company /DHR  orally promised to the Orginal Debtor and other guarantors   that they will nto execute the Warrant and informed the date and time  of the Exectuoin  Warrant and asked them to lock  thier  Houses ( though filed  EP agaisnt them and obtained  Moveable  Warranta against  all other  Defendants) and wanted to execute the   Moveabel Proerty attachment against one  Guarantor only  and pressurised one Guarantor only to pay the entire due amoutn , otherwise they will sieze the moveables and the said JDr promised to pay his part of the Due on that  day and to drop the Proceedigns , the DHR/ Company not aqccepted  the request of that  JDr Guarantor and attached hsi properties  , whether the DHr is justified and whther he can proceed againstg only one guarantor , though having same warrants in his  hand  against   all the other JDr and original Debtor  ! 

Friends I requst you to clarify   


 4 Replies

sanjay singh thakur (advocate)     01 May 2009

Dear Mr. Rao

Lot depends upon the final order which is being executed and until unless the same is provided one cannot appreciate appropriately. Moreover warrant as well as attacment order against all the Judgement Debtors should be issued and not only against one JD.

Y V Vishweshwar Rao (Advocate )     02 May 2009

Whether the said  one-JDr/ Guarnator is discharged or not ! 

A. Sanjeevulu (advocate)     05 May 2009

if the decree is passed against all the j.drs/defendants, holding them jointly and severeally they are all liable to pay the decreetal amount jointly and severellay. The  is liberty to proceed against all of them or any one of them. 

Aftab4u (PVT EMPLOYEE)     28 January 2010

Guarantor are different people and they stood the guarantee for different reasons , but once the original debtor passed away / after his death the persons who stood for guarantee started to harass the family members of the original debtor.

Legal heirs no way connected regarding the above is their any clause or SC Judgement that legal heirs are no way concerned to the guarantee of the chits which they are not aware.


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