M/S.Radiance Media P.Ltd vs M/S.Magic Frames
2021 Latest Caselaw 15294 Mad

                                                         1

                                   IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                 DATED: 29.07.2021

                                                      CORAM

                            THE HONOURABLE DR. JUSTICE G.JAYACHANDRAN

                                                 C.S.No.393 of 2017

                     M/s.Radiance Media P.Ltd.,
                     Rep. by its authorized Signatory, N.Srinivasan,
                     Having registered office at
                     Khivraj Complex-II, 6th Floor,
                     480, Anna Salai,
                     Nandanam,
                     Chennai 600 035.                                  .. Plaintiff

                                                    vs

                     1.M/s.Magic Frames,
                       Partnership Firm,
                       Rep. by its Partner R.Sarath Kumar,
                       Having Office at
                       No.14, Jayammal Street,
                       Tenampet,
                       Chennai 600 018.

                     2.Mr.R.Sarath Kumar,
                       Partner of M/s.Magic Frames,

                     3.Mrs.R.RadikaaSarath Kumar,
                       Partner of M/s.Magic Frames

                     Both are having office at
                     No.14, Jayammal Street,
                     Tenampet,
                     Chennai 600 018.

https://www.mhc.tn.gov.in/judis/
                                                              2

                     4.Mr.Listin Stephen,
                       Partner of M/s.Magic Frames,
                       Having Office at
                       No.14, Jayammal Street,
                       Tenampet,
                       Chennai 600 018.                                             ...Defendants

                     Prayer:Civil Suit filed under Order IV Rule I of the O.S.Rules read with
                     Order XXXVII Rule 1 and 2 of CPC, praying for the following:

                                a. directing the defendants to pay a sum of Rs.2,00,00,000/-
                     (Rupees Two Crores only) along with interest at the rate of 18 percent
                     per annum since the date of return of cheques unpaid till the date of
                     realization of the amount; and

                                   b. directing the defendants to pay the cost of the suit.

                                          For Plaintiffs    : Mr.Rajagopal Vasudevan
                                                              for M/s.R.Bhagawat Krishna

                                          For Defendants : Mr.E.K.Kumaresan

                                                      JUDGMENT

In view of the compromise memo entered between the parties,

this Court has directed the third respondent to give no objection for

withdrawal of Rs.2 crores, which was deposited earlier, by the Registrar

General, High Court, Madras pursuant to the Court order and on such

receipt of No Objection, the Registrar General shall invoke the bank

guarantee and withdraw Rs.2 crores.

https://www.mhc.tn.gov.in/judis/

2.Today, it is represented that the Registrar General has

withdrawn Rs.2 crores and the same will be paid to the plaintiff on

appropriate application. Recording the same, the suit is disposed as

settled out of court. No order as to costs.

14.07.2021

vri

https://www.mhc.tn.gov.in/judis/

DR.G.JAYACHANDRAN,J.

Vri

C.S.No.393 of 2017

29.07.2021

https://www.mhc.tn.gov.in/judis/ 14.07.2021