Madras High Court
Dsc Motors Private Limited vs M/S.Mahindra & Mahindra ... on 26 February, 2021
C.S.No.617 of 2019 and O.A.No.964 of 2019
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 26.02.2021
CORAM:
THE HON'BLE JUSTICE C.V.KARTHIKEYAN
C.S.No.617 of 2019
and O.A.No.964 of 2019
1.DSC Motors Private Limited,
Represented by its Managing Director,
D.Selvakumar,
399, Anna Salai,
Nandanam,
Chennai - 600 035.
2.D.Selvakumar ... Plaintiffs
..Vs..
1.M/s.Mahindra & Mahindra Financial Services Limited,
Represented by its Deputy Manager (Legal)
Mr.S.Suresh,
Gateway Building,
Apollo Bunder,
Mumbai - 400 001.
2.M/s.Sri Jayalakshmi Automotives Private Limited,
Represented by its Chief Financial Officer,
Naspur House,
Door No.3-5-436, 437 & 438,
Himayath Nagar,
Hyderabad - 500 029. ... Defendants
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https://www.mhc.tn.gov.in/judis/
C.S.No.617 of 2019 and O.A.No.964 of 2019
PRAYER : Plaint filed under Section 7 of the Commercial Courts
Commercial Division and Commercial Appellate Division of High Courts
Act, 2015 (4 of 2016), prayed for a Judgment and Decree:-
(a) To Declare that the Sale Deed dated 30.08.2019, registered as
Document No.9741 of 2019 - before the Joint Sub Registrar No.I, Saidapet,
Chennai, executed by first defendant in favour of the second defendant in
respect of the suit property as null and void and not binding on the plaintiffs;
(b) Grant an order of permanent injunction restraining the
defendants, their men, agents, servants or any other persons authorized
through them or under them from alienating or otherwise from creating any
encumbrance over the suit property;
(c) Grant costs of this suit to the plaintiffs.
For Plaintiffs : M/s.V.Rajesh
For Defendants : M/s.A.Prabhakaran for D1
M/s.K.Ravindranath for D2
*******
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https://www.mhc.tn.gov.in/judis/
C.S.No.617 of 2019 and O.A.No.964 of 2019
JUDGMENT
Heard Mr.V.Rajesh, learned counsel for the plaintiffs and
Mr.A.Prabhakaran, learned counsel for the first defendant and
Mr.K.Ravindranath, learned counsel for the second defendant. Very
appreciably, the plaintiffs and the defendants assisted by their counsels have
entered into a Memorandum of Compromise giving a quietus to the issues
raised.
2. A Memorandum of Compromise was dated 04.01.2021 and had
bee filed in Court on 18.01.2021. It has been signed by the Managing
Director of the first plaintiff and also by the second plaintiff. It has also
been signed by the Authorized Signatory of the first defendant and by the
Authorized Signatory of the second defendant. It has also been signed by
the learned counsels for the plaintiffs, first defendant and the second
defendant.
3. The operative portion of the said Memorandum of Compromise
is in clause 3 wherein, by way of three installments, the second defendant
had agreed to effect payments to the second plaintiff and the first defendant.
https://www.mhc.tn.gov.in/judis/
C.S.No.617 of 2019 and O.A.No.964 of 2019
The said clause is as follows:
"3. The Second Defendant shall make the
above payment in three installments as detailed below:
First Installment of Rs.45,00,000/- (Rupees
Forty Five Lakhs only), by way of demand draft dated
03.12.2020, bearing No.010166, drawn on HDFC Bank
Limited, in favour of the Second Plaintiff, and a
demand draft dated 03.12.2020, bearing No.010165,
drawn on HDFC Bank Limited, for a sum of
Rs.5,00,000/- (Rupees Five Lakhs only), in favour of
the First Defendant.
ii) Second Installment of Rs.20,00,000/-
(Rupees Twenty Lakhs only), to be paid on or before
11.01.2021, to the Second Plaintiff, together with
Second Installment of Rs.5,00,000/- (Rupees Five
Lakhs only), to be paid on or before 11.01.2021, to the
First Defendant.
iii) Third Installment of Rs.20,00,000/-
(Rupees Twenty Lakhs only), to be paid on or before
11.02.2021, to the Second Plaintiff, together with Third
Installment of Rs.5,00,000/- (Rupees Five Lakhs only),
to be paid on or before 11.02.2021, to the First
Defendant."
https://www.mhc.tn.gov.in/judis/
C.S.No.617 of 2019 and O.A.No.964 of 2019
4. It is informed that the first payment was paid on 03.12.2020 as
stated in the Memorandum of Compromise. This suit had been coming up
before this Court and the Court wanted to know whether the second
defendant had kept up with the payments of the subsequent installments. It
is informed today all the installments have been paid. The second
installment had been paid on 19.01.2021 and the third installment had been
paid on 17.02.2021. This brings to a satisfactory end the litigation among
the parties.
5. In view of said fact, the suit is decreed in terms of
Memorandum of Compromise. No order as to costs. Connected application
is closed. The Memorandum of Compromise dated 04.01.2021 and filed in
Court on 18.01.2021 shall form part of the decree.
26.02.2021
Index : Yes / No
Web : Yes / No
rna
https://www.mhc.tn.gov.in/judis/
C.S.No.617 of 2019 and O.A.No.964 of 2019
C.V.KARTHIKEYAN, J
rna
C.S.No.617 of 2019
and O.A.No.964 of 2019
26.02.2021
https://www.mhc.tn.gov.in/judis/
