Madras High Court
Take Solutions Limited vs Madison Pacific Trust Limited on 11 October, 2022
C.S.No.320 of 2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated : 11.10.2022
CORAM:
THE HONOURABLE MR. JUSTICE C.V.KARTHIKEYAN
C.S.No.320 of 2021
TAKE Solutions Limited
Represented by its Company Secretary,
P.Srinivasan,
No.27, Tank Bund Road,
Nungambakkam,
Chennai – 600 034, India.
.. Plaintiff
/versus/
1.Madison Pacific Trust Limited,
Represented by its Authorized Signatory,
54/F, Hopewell Center 183,
Queen's Road East, Wanchai,
Hong Kong.
2.TAKE Solutions Pte Ltd.,
Represented by its Authorized Signatory,
10 Anson Road,
#34-15 International Plaza,
Singapore – 079 903.
3.TAKE Solutions Global Holdings Pte Ltd.,
Represented by its Authorized Signatory,
10, Anson Road,
#30-13, International Plaza,
Singapore - 079 903.
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https://www.mhc.tn.gov.in/judis
C.S.No.320 of 2021
Tel: +65 622 312 232
4.Patric Bance
5.M.Alagar
.. Defendants
This Civil Suit is filed under Order IV Rule 1 of the High
Court of Original Side Rules read with Order VII Rule 1 of CPC., 1908
prayed for a judgment and decree against the Defendants:-
a).To pass an order of permanent injunction restraining the
defendants Nos.1 to 4 from usurping the voting rights of the defendant
No.2 in the plaintiff and interfering with the EGM of the plaintiff
proposed to be held on 23.10.2021, in any manner whatsoever;
b).To pass an order of permanent injunction restraining the
defendant Nos.1 and 4 from interfering with the implementation of the
said transaction which has been duly approved by the Board of Directors
of the plaintiff company and the lenders of defendant No.3;
c).To pass an order of mandatory injunction directing the
defendant No.5 to disregard the vote cast by the defendant No.4 on
behalf of defendant No.2 in the EGM of the plaintiff to be held on
23.10.2021.
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https://www.mhc.tn.gov.in/judis
C.S.No.320 of 2021
For Plaintiff : Mr.Sashidhar Sivakumar
For D1 : Mr.P.Vinod Kumar
For M/s.Sagar Associates
For D2 and D4 : Mr.P.V.Balasubramanian
For M/s.BFS Legall
For D5 : Mr.T.V.Suresh Kumar
JUDGMENT
The learned counsel for the plaintiff forwarded a memo, in
which, the communication to him from the plaintiff is also enclosed. The
communication to the learned counsel for the plaintiff is as follows:-
“ 15 September 2022
Dear Sashi,
As discussed, please initiate withdrawal of suit C.S.No.320
of 2021 from Madras High Court.
Please also take note that the Promoter Company i.e TAKE
Solutions Pte Ltd., Singapore and the Lenders have agreed
to settle the matter out of Court.
The terms and conditions of the settlement have been
agreed in principle and a formal Settlement Agreement is
https://www.mhc.tn.gov.in/judis
C.S.No.320 of 2021
in the process of finalizing.
Kind regards,
Avaneesh Singh
Sr. VP – chief Legal Officer
TAKE Solutions Ltd
27, Tank Bund Road,
Nungambakkam, Chennai – 600 034.
Mob - +91 9810537587”
2. The memo is as follows:
1.The parties have agreed to settle the matter out of
Court and have in principle agreed to the terms and
conditions of the settlement while the formal settlement
agreement is in the process of finalizing. Hence, it is most
prayed that the plaintiff be permitted to withdraw the
present suit and the same may be dismissed as
withdrawn. The copy of the email dated 15.09.2022 sent
by the plaintiff instructing the withdrawal of the present
suit is filed herewith.
2.Under such circumstances, it is most respectfully
prayed that the Registry be directed to refund to the
plaintiff the total Court fee of Rs.1,12,600/- paid by them.
Dated at Chennai on this the 15th day of September,
2022.”
https://www.mhc.tn.gov.in/judis
C.S.No.320 of 2021
3. The learned counsel for the plaintiff also made the following
endorsement:
“It is most respectfully prayed that the plaintiff be
permitted to withdraw the present suit as settled out of
Court”
4. In view of the fact that the parties have settled the matter out
of Court, the Suit is dismissed as settled out of Court. The plaintiff is
entitled for refund of Court fees in accordance with rules. The Court fees
may be refunded to the authorized person of the plaintiff and identified
by the learned counsel for the plaintiff.
11.10.2022
smv (1/2)
Internet : Yes / No
Index : Yes / No
https://www.mhc.tn.gov.in/judis
C.S.No.320 of 2021
C.V.KARTHIKEYAN,J.
smv
C.S.No.320 of 2021
(1/2)
11.10.2022
https://www.mhc.tn.gov.in/judis
