Madras High Court
M.Sudarsan vs Margadarsi Chits Private Limited on 18 July, 2023
C.R.P.No.2280 of 2023
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 18.07.2023
CORAM:
THE HONOURABLE Mrs. V. BHAVANI SUBBAROYAN
Civil Revision Petition.No.2280 of 2023
M.Sudarsan ... Petitioner
Vs.
1.Margadarsi Chits Private Limited,
Annasalai Branch,
“A” Wing, Parson Manor, Plot No.1 and 2,
2nd Floor, 602, Anna Salai,
Chennai-600 006.
2. J.Rajesh
3. M.Viswanathan
4. R.Gowri Shanthi ... Respondents
Prayer: Civil Revision Petition filed under Article 227 of the Constitution
of India seeking to set aside the order dated 09.02.2021, passed in
ARC.No.328 of 2019 on the file of the Central Chennai Chit Fund Cases,
and consequently to raise the attachment order of properties more fully
described in the schedule-2(Doc. No.1406/2017) of the said order belonging
to the petitioner.
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C.R.P.No.2280 of 2023
For Petitioner : Mr.K.S.Navin Balaji
For Respondents : Mr.D.Shivakumar for R1
Mr.S.Nirmal Adithya for R2
ORDER
This Civil Revision Petition is filed to set aside the order dated
09.02.2021, made in A.R.C.No.328 of 2019 on the file of the Central
Chennai Chit Fund Cases and to raise the attachment order of properties
described in the schedule-2(Doc. No.1406/2017).
2. Pending the Civil Revision Petition, now the parties have amicably
resolved the dispute among themselves and have entered into Joint Memo of
Compromise, dated 18.07.2023 is produced before this Court which reads as
follows:-
“1. It is respectfully submitted that the revision Petitioner
and the respondents 2 to 4 herein have suffered an award and
decree dated 09.02.2023 in ARC.No.328 of 2019 on the file of
the Chit Registrar, Chennai Central. Even though the revision
petitioner has predominantly challenged the order of attachment
before judgment and also the award, for which the appropriate
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C.R.P.No.2280 of 2023
remedy is not before this Hon'ble Court, in view of the fact that
the Revision Petitioner and the 2nd respondent/judgment debtor 2
& 1 respectively have already agreed to satisfy the award
amount on the basis of an out of Court settlement and as the 1 st
respondent has consented for receiving the amount agreed upon
in installments, to confirm the same and to record no objection
by the 1st respondent/decree holder for execution and
registration of a supplementary lease deed dated 16.05.2023
between the revision petitioner/ Judgment Debtor No.2 and the
Government of Tamil Nadu, the present Joint Memo of
Compromise is entered into on the following
TERMS
i) Both the parties agree that the 2nd respondent /judgment
debtor No.1 has already entered into a settlement on 13.06.2023
and accordingly the amount due to the 1st respondent /decree
holder was frozen at Rs.16,00,000/- as per the letter of
commitment dated 13.06.2023 given by the 2nd respondent
/judgment debtor No.1 to the 1st respondent/decree holder.
ii) Accordingly, the 2nd respondent/judgment debtor No.1
has paid Rs.5,00,000/- as on 13.06.2023 and for the remaining
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C.R.P.No.2280 of 2023
amount due to the 1st respondent/decree holder, the 2nd
respondent/judgment debtor No.1 has already issued the
following post-dated cheques:
Sl. Cheque No. & Date Bank & Branch Amount
No (Rs.)
1 000342 & Karur Vysya Bank Rs.2,22,000/-
28.06.2023
2 000344 & Karur Vysya Bank Rs.2,22,000/-
28.07.2023
3 000345& Karur Vysya Bank Rs.2,22,000/-
28.08.2023
4 000346 & Karur Vysya Bank Rs.2,22,000/-
28.09.2023
5 000349& Karur Vysya Bank Rs.2,22,000/-
28.10.2023
The cheque bearing number 000342 of Karur Vysya
Bank dated 28.06.2023 for Rs.2,22,000/- was already
presented by the 1st respondent/decree holder for collection
and the same has also been honoured.
iii) In view of the present Joint Memo of Compromise,
the 1st respondent/decree holder hereby expresses “No
Objection” for Registration of the “Supplementary Lease
Deed”, dated 16.05.2023 already executed between the
Revision Petitioner/Judgment Debtor No.2 and the
Government of Tami Nadu in respect of the property which is
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C.R.P.No.2280 of 2023
the subject matter of attachment before judgment in
ARC.No.328 of 2019 viz., an extent of 3.99.0 Hectares (9.84
acres) compromised in Survey Nos.
176/4A-0.48.5 Hectares 1.20 Acres
178/1B2-0.57.5 Hectares 1.42 Acres
178/1C1-0.59.0 Hectares 1.45 Acres
178/1C2-0.58.0 Hectares 1.43 Acres
178/1D1-0.37.A Hectares 0.90 Acres
178/1D2-0.24.0 Hectares 0.60 Acres
178/1D4-0.26.0 Hectares 0.64 Acres
181/1C1-0.24.0 Hectares 0.59 Acres
181/1C2-0.19.5 Hectares 0.48 Acres
181/1G1-0.20.0 Hectares 0.49 Acres
181/1G2-0.25.5 Hectares 0.63 Acres (of Patta No.570)
of No.122, Kundiyanthandalam Village, Vembakkam Taluk,
Thiruvannamalai District (which is entered as an encumbrance
in the SRO, Thusi, Thiruvannamalai District on 04.02.2021.
iv) It is mutually agreed that in the event of dishonour of any of
the above said cheques when presented on the due date for
collection, the settlement recorded today shall stand
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C.R.P.No.2280 of 2023
automatically cancelled and the 1st respondent /decree holder
shall become automatically entitled to enforce and execute the
award dated 09.02.2021 in ARC No.328 of 2019 as awarded
with 24% per annum, besides such default may be treated as a
violation of this order in the revision.”
v) the 1st respondent agrees that the execution petitions already
filed to execute the award No.328 of 2019 shall be withdrawn
and it is also mutually agreed that no fresh execution petition
will be filed unless there is any violation of the terms fo
compromise.
vi)Both the parties agree to bear their respective costs.
2. Both the parties respectfully pray that this Joint Memo of
Compromise may form part of the final order in the above
revision.”
3. The terms of the Joint Memo of Compromise dated 18.07.2023 is
recorded and the terms of the Joint Memo of Compromise shall form part of
the decree. Therefore, the 1st respondent/decree holder is entitled to enforce
and execute the award dated 09.02.2021 in ARC No.328 of 2019, with 24%
per annum and the Sub Registrar, Thusi, Thiruvannamalai District is directed
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C.R.P.No.2280 of 2023
to accept the same and make an endorsement in the Registry. With the above
direction, this Civil Revision Petition is disposed of. No costs.
18.07.2023
(2/2)
jai
Index:Yes/No
Speaking Order: Yes/No
Note: Issue order copy on 19.07.2023
To
The Central Chennai Chit Fund Cases,
Chennai.
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C.R.P.No.2280 of 2023
Mrs.V. BHAVANI SUBBAROYAN, J.
jai
C.R.P.No.2280 of 2023
18.07.2023
(2/2)
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