- (1.) ANIMADVERTING upon the order dated 28.02.2011 passed in E.P.No.568 of 2011 in ARC.No.2081 of 2004 by the learned X Assistant City Civil Judge, Chennai, this civil revision petition is focussed.
(2.) COMPENDIOUSLY and concisely, the germane facts absolutely necessary for the disposal of this revision petition would run thus: At the entertaining stage itself, this Court thought fit to hear the learned counsel for the petitioners on the revision petition. The revision petitioners herein were the judgment in debtors in E.P.No.568 of 2011 in ARC No.2081 of 2004, which was filed for executing the Award passed by the authority concerned. The Executing Court has rejected the objections raised by the revision petitioners herein and now proceeds with the E.P. Being aggrieved by and dissatisfied with the order of the E.P. Court, this revision is focussed. The learned counsel for the petitioners placing reliance on the grounds of revision would advance his arguments, which could succinctly and pithily be set out thus: (a) The E.P. itself is barred by limitation in view of Section 71 of the Chit Funds Act. (b) The rate of interest claimed is above 12%,so to say at the rate of 24% per annum, which is untenable in view of the proviso to Section 28 read with Rule 63 of the Chit Fund Rules. Accordingly, the learned counsel for the revision petitioners, would press for setting aside the order of the lower Court and for dismissal of the E.P.
(3.) I would like to refer to the first objection referred to by the learned counsel for the revision petitioners, thus: Section 71 of the Chit Funds Act, is extracted here under for ready reference: "71. Money how recovered.- Every order passed by the Registrar or the nominee under section 68 or section 69 and every order passed by the State Government in appeal under section 70 for payment of any money shall, if not carried out, - (a) on a certificate issued by the Registrar, be deemed to be a decree of a Civil Court, and shall be executed in the same manner as a decree of such Court, or (b) be executed in accordance with the provisions of any law for the time being in force for the recovery of amounts as arrears of land revenue; Provided that no application for execution under clause (b) shall be made after the expiry of three years from the date fixed in the order, and if no such date is fixed, from the date of the order." ;