M/S.Allied Investments & Housing ... vs /
2021 Latest Caselaw 18136 Mad

                                                                  C.S.(Comm.Div.)No.91 of 2018
                                                                          & A.No.1151 of 2018

                              IN THE HIGHCOURT OF JUDICATURE AT MADRAS

                                              Dated: 03.09.2021

                                                   Coram:

                             THE HONOURABLE DR.JUSTICE G.JAYACHANDRAN

                                       C.S.(Comm.Div.)No.91 of 2018
                                            & A.No.1151 of 2018

                1. M/s.Allied Investments & Housing Private Limited,
                   Rep. by its Executive Director - Mr.Aslam Packeer Mohamed,
                   Citi Tower, V Floor, No.117, Thyagaraja Road,
                   T.Nagar, Chennai - 600 017.
                   Partner of M/s.Zenith Allied,
                   (An Unregistered Partnership Firm),
                   Having Office at Citi Tower, V Floor,
                   No.117, Thyagaraja Road, T.Nagar,
                   Chennai - 600 017.

                2. M/s.Zenith Real Estates,
                   Rep. by its Partner, Mr.P.H.M.Syed Ismail,
                   No.BS-17, Gems Court,
                   No.14, Khader Nawaz Khan Road,
                   Nungambakkam, Chennai - 600 006.
                    Partner of M/s.Zenith Allied,
                   (An Unregistered Partnership Firm),
                   Having Office at Citi Tower, V Floor,
                   No.117, Thyagaraja Road, T.Nagar,
                   Chennai - 600 017.                                        .. Plaintiffs

                                                  /versus/
                M/s.Sai Supreme Holdings Company Private Limited,
                Rep. by its Director Mr.Dr.Ramnath Sri Ram,
                Sai Ramnath House, Nos.15/13 & 15/15
                Vazhudavur Road, Kurumbapet,
                Pondicherry - 605 009.                                       ..Defendant
https://www.mhc.tn.gov.in/judis/
                                                                          C.S.(Comm.Div.)No.91 of 2018
                                                                                  & A.No.1151 of 2018

                Prayer:- Civil Suit has been filed under Order IV Rule 1 of the Madras High
                Court Original Side rules read with Order VII Rule 1 of C.P.C, 1908, prayed
                for:-


                          (a). Directing the Defendant to pay to the plaintiffs a sum of
                Rs.1,22,77,177/- (Rupees One Crore Twenty Two Lakhs Seventy Seven
                Thousand One Hundred and Seventy Seven only), together with interest at 18%
                thereon from the date of presentation of plaint till date of realization.


                          (b) Direct the defendants to pay the costs of the suit.



                                         For Plaintiffs     :Mr.K.M.Aasim Shehzad

                                         For Defendant      : Mr.Arun Karthik Mohan


                                                     JUDGMENT

The Suit is filed for recovery of money from the defendant arising

from the commercial transaction namely Joint Venture Agreement entered

between the parties on 29.01.2014, for the purpose of development of the land.

2. Pending suit, the parties have entered into a compromise. The

said compromise, dated 01.09.2021, filed by the plaintiff indicates that, the

defendant as against the suit claim of Rs.1,22,77,177/-, has paid a sum of https://www.mhc.tn.gov.in/judis/ C.S.(Comm.Div.)No.91 of 2018 & A.No.1151 of 2018

Rs.80,00,000/- towards full and final settlement of all dues payable by way of

demand draft. Therefore, the plaintiffs are not inclined to pursue the matter

and wants to withdraw the suit as settled out of Court.

3. Recording the same, the Suit is dismissed as settled out of

Court. The plaintiffs shall be entitled for refund of Court fees in accordance

with law. No order as to costs. Consequently, connected application is closed.

                                                                                         03.09.2021
                Index       :Yes/No

speaking order/non speaking order bsm

https://www.mhc.tn.gov.in/judis/ C.S.(Comm.Div.)No.91 of 2018 & A.No.1151 of 2018

DR.G.JAYACHANDRAN,J.

bsm

C.S.(Comm.Div.)No.91 of 2018 & A.No.1151 of 2018

03.09.2021

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