M/S.Screen Scene Media ... vs Light House Movie Makers Llp
2021 Latest Caselaw 2261 Mad

Citation : 2021 Latest Caselaw 2261 Mad
Judgement Date : 2 February, 2021

Madras High Court

M/S.Screen Scene Media ... vs Light House Movie Makers Llp on 2 February, 2021

                                                                       C.S.(Comm.Div.) No.6 of 2021

                                   IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                 Dated : 02.02.2021

                                                      CORAM:

                              THE HONOURABLE MR. JUSTICE C.V.KARTHIKEYAN

                                            C.S.(Comm. Div.) No.6 of 2021
                                                         and
                                                  O.A.No.13 of 2021
                                                         and
                                                A.Nos.64 & 65 of 2021


                     M/s.Screen Scene Media Entertainment Pvt. Ltd.,
                     represented by its Director,
                     Mr.Gokul Yadav,
                     No.2/2, Plot No.9, Cenetoph 2nd Lane,
                     Teynampet, Chennai – 600018.                                     .. Plaintiff


                                                      /versus/

                     1.Light House Movie Makers LLP,
                       Rep.by its Designated Partner,
                       Mr.B.Madhusuhana Reddy
                       No.2A, M.P.Avenue, Abusali Street,
                       Saligramam, Chennai – 600 093.

                     2.B.Madhusudhana Reddy,
                       Partner,
                       Light House Movie Makers LLP/
                       SARASWATHI FILMS DIVISION
                       No.2A, M.P.Avenue, Abusali Street,
                       Saligramam, Chennai - 600 093.


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                                                                           C.S.(Comm.Div.) No.6 of 2021



                     3.SARASWATHI FILMS DIVISION,
                       Rep. by its Partner,
                       Mr.B.Madhusuhana Reddy
                       No.2A, M.P.Avenue, Abusali Street,
                       Saligramam, Chennai - 600 093.                                  .. Defendants

                                   This Civil Suit is filed under Order IV Rule 1 of the O.S Rules
                     read with Order VII Rule 1 of the Code of Civil Procedure, 1908, prayed
                     for a Judgment and Decree:-


                                   1.Direct the Defendants jointly and severally to pay a sum of
                     Rs.16,82,28,159/- (Rupees Sixteen Crores Eighty-Two Lakhs Twenty-
                     Eight Thousand One Hundred and Fifty-Nine Only) along with interest
                     on Rs.10,50,550,573/- pendente lite interest and future interest @ 18%
                     per annum to the Plaintiff from the date of filing the suit till the date of
                     realization.


                                   2.Pay the cost of this suit.


                                       For Plaintiff              : Ms.Tanya Kapoor

                                       For Defendants             : Mr.P.Sanjeev Kumar
                                                                    For M/s.Ojas Law Firm.




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                                                                            C.S.(Comm.Div.) No.6 of 2021


                                                       JUDGMENT

A Joint Compromise Memo dated 29.01.2021 had been

forwarded to the Registry, which has been signed on behalf of the

Plaintiff by its Director, Mr.Gokul Yadav and by Mr.Madhusudhana

Reddy, on behalf of the three Defendants. As a matter of fact,

Mr.B.Madhusudhana Reddy is also the 2nd Defendant in the suit.

2.The terms of the Joint Compromise Memo are as follows:

“2.That the Hon'ble Court vide order dated 08.01.2021 had injuncted that Defendants to the Application from releasing the Telugu Movie “KRACK” starring Ravi Teja, Shruthi Hasan, Samuthirakani directed by Gopichand Malineni.

3.The Plaintiff and the Defendants respectfully submits that the parties have amicably arrived at a settlement on mutually negotiated terms and both the parties have entered into a Memorandum of Agreement dated 09.01.2021 (hereinafter referred to as MOA) on the said terms as enumerated herein below:

A.That the Defendants herein have admitted and agreed/undertake to pay the principal

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amount of a sum of Rs.11,50,00,000/- (Rupees Eleven Crores Fifty Lakhs Only) plus GST towards its outstanding liability to the Plaintiff in the manner herein below:

B.The Plaintiff has agreed to waive the interest liable to be paid by the 1st Defendant and the 2nd Defendant as per the Agreement dated 10.05.2019 subject to the terms of the Compromise.

C.That the 2nd Defendant has paid a sum of Rs.2,50,00,000/- (Rupees Two Crores Fifty Lakhs Only) to the Plaintiff vide Demand Draft dated 08.01.2021 bearing No.013380, drawn on HDFC Bank.

D.That the Defendants have agreed and undertaken to pay the balance sum of Rs.9,00,00,000/- (Rupees Nine Crores Only) in a phased manner as indicated below:

i.That a sum of Rs.2,50,00,000/- shall be paid by Mr.Mangoram and Mr.Sanjay Wadhwa on behalf of the 1st and 2nd Defendant on or before 10.01.2021 and a letter of undertaking to this effect signed by Mr.Mango Ram and Mr.Sanjay Wadhwa is handed over to the Plaintiff.

ii.The Defendants have agreed to pay a

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sum of Rs.6,50,00,000/- (Rupees Six Crores Fifty Lakhs Only) in 7 instalments on or before December 01, 2021 and the 2nd Defendant has issued 7 postdated cheques to this effect. The details of the cheques are listed herein below: S.No. Cheque No. Date Amount (In Rs.) 1 001351 10.03.2021 50,00,000/- 2 001352 25.07.2021 1,00,00,000/- 3 001353 25.08.2021 1,00,00,000/- 4 001354 25.09.2021 1,00,00,000/- 5 001355 25.10.2021 1,00,00,000/- 6 001356 25.11.2021 1,00,00,000/- 7 001357 25.12.2021 1,00,00,000/-

E.That the Plaintiff has agreed to not enforce the order dated 08.01.2021 passed by the Hon'ble High Court of Madras in O.A.No.13/2021 upon receipt of payment of Rs.2,50,00,00/- as on 09.01.2021 and further upon an undertaking issued by the Defendants as stated above to repay the balance outstanding amount on or before December 31, 2021.

F.That the Plaintiff and Defendants have agreed to submit this Joint Memo of Compromise along with MOA before this Hon'ble Court in this suit in C.S.No.6 of 2021 and seek for passing of the decree in terms of this Joint Memo of Compromise

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against Defendants executable jointly or severally. The Plaintiff is entering into this Memorandum on the assurance and undertaking given by the Defendants to honor their commitment under this Memorandum.

G.In the event of default in honoring any of the instalments as undertaken Defendants are liable to pay interest at 18% p.m. compounded monthly on the defaulted payment(s) apart from honoring their commitments herein above.

4.In view of the above, it is prayed that this Hon'ble Court may be pleased to record this Joint Compromise Memo and pass a decree against the Defendants in terms of the said Compromise Memo and any such other orders as this Hon'ble court may deem fit and proper in these circumstances of the case and thus render justice.

Dated at Chennai on this the 28th Day of January 2021.

sd/-

Counsel for Plaintiff Plaintiff Counsel for 1st Defendant 1st Defendant Counsel for 2nd Defendant 2nd Defendant Counsel for 3rd Defendant 3rd Defendant”

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3.Heard the learned counsel for the Plaintiff and the learned

counsel for the Defendants.

4.The Director of the Plaintiff Mr.Gokul Yadav and the 2nd

Defendant Mr.B.Madhusudhana Reddy, who is also a partner of the 1 st

Defendant was present through video conferencing.

5.Since both the parties have agreed to the terms of the Joint

Compromise Memo, the same is recorded and the suit is decreed in

accordance with the terms of the Joint Compromise Memo dated

29.01.2021. No order as to costs. Consequently, connected Applications

are closed. The Joint Compromise Memo dated 29.01.2021 shall form

part of the decree.