Madras High Court
Narayana Educational Society vs Sri Boomadevi Land Developers ... on 12 August, 2022
C.S.(Comm.Div.) No.90 of 2022
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 12.08.2022
CORAM
THE HONOURABLE MR.JUSTICE SENTHILKUMAR
RAMAMOORTHY
C.S.(Comm.Div.) No.90 of 2022
and A.No.1949 of 2022
and O.A.Nos.264, 265 of 2022
Narayana Educational Society,
Rep. by its Authorized Signatory R.Devendra Kakarla,
No: 152, Poonamallee High Road,
Near Saveetha Dental College,
Velappanchavadi, Maduravoyal,
Chennai, Tamil Nadu 600 007. ... Plaintiff
vs.
1.Sri Boomadevi Land Developers Pvt. Ltd.,
Rep. by its Managing Director, Mr.K.Malairajan
Having its registered office at:
No.16A, Kaliamman Koil Street,
Virugambakkam, Chennai - 600 092.
2.M/s.Gatala Developers and Properties Pvt. Ltd.,
Rep. by its Director,
Having its registered office at:
No.34, Co-operative Colony Main Road,
Alwarpet, Chennai - 600 018. ... Defendants
(Amended as per order dated 10.08.2022 in A.No.3291 of 2022)
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https://www.mhc.tn.gov.in/judis
C.S.(Comm.Div.) No.90 of 2022
PRAYER: Plaint filed under Order VII Rule 1 of CPC 1908 R/W Order IV
Rule 1 of O.S.Rules, prayed for Judgment and Decree:-
(a) Direct the 1st defendant to pay to the plaintiff a sum of
Rs.2,00,00,000/- (Rupees Two Crores only) along with interest at the rate of
18% p.a. from 18.11.2019 till the date of realization.
(b) Declare that the plaintiff has a charge over the schedule mentioned
property till the realization of the said amount of Rs.2,00,00,000/- (Rupees
Two Crores only) along with interest at the rate of 18% p.a. from 18.11.2019
till the date of realization.
(c) Costs of the suit.
For Plaintiff : Ms.C.S.Sreenedhi
for M/s.P.Wilson Associates
For Defendants : Mr.P.B.Ramanujam
Mr.P.B.Balaji
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https://www.mhc.tn.gov.in/judis
C.S.(Comm.Div.) No.90 of 2022
**********
JUDGMENT
The suit was filed to recover a sum of Rs.2,00,00,000/- (Rupees Two
Crores only) along with interest thereon at 18% p.a. from 18.11.2019 until
realization.
2. Pursuant to negotiations, the parties have reached a settlement and
executed a Joint Memo of Compromise dated 10.08.2022. The said Joint
Memo of Compromise has been executed by the plaintiff and each of the
defendants. Learned counsel for the parties have also executed the same.
The parties are present in person in Court.
3. The Joint Memo of Compromise provides for the payment of a sum
of Rs.2,10,00,000/- (Rupees Two Crores Ten Lakhs only) by the first
defendant to the plaintiff in full and final satisfaction of the suit claim. The
parties have also agreed to submit to a decree in terms of prayer (a) of
paragraph 26 of the plaint. I see no legal impediment to the issuance of a
https://www.mhc.tn.gov.in/judis
C.S.(Comm.Div.) No.90 of 2022
decree in terms of the Joint Memo of Compromise.
4. Accordingly, C.S.(Comm.Div.) No.90 of 2022 is decreed in terms of
prayer (a) of paragraph 26 of the plaint and the Joint Memo of Compromise
dated 10.08.2022 shall form an integral part thereof. In view of the
settlement, the plaintiff is entitled to a refund of the full Court fee. There will
be no order as to costs. Consequently, A.No.1949 of 2022 and O.A.Nos.264,
265 of 2022 are closed.
12.08.2022
rna
Index : Yes / No
Internet : Yes / No
https://www.mhc.tn.gov.in/judis
C.S.(Comm.Div.) No.90 of 2022
SENTHILKUMAR RAMAMOORTHY,J
rna
C.S.(Comm.Div.) No.90 of 2022
and A.No.1949 of 2022
and O.A.Nos.264, 265 of 2022
https://www.mhc.tn.gov.in/judis
C.S.(Comm.Div.) No.90 of 2022
12.08.2022
https://www.mhc.tn.gov.in/judis
