Madras High Court
M.Sudarsan vs Margadarsi Chits Private Limited on 18 July, 2023
C.R.P.No.2276 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.2276 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. C.Dinesh
5. R.Gowri Shanthi ... Respondents
Prayer: Civil Revision Petition filed under Article 227 of the Constitution
of India seeking to set aside the order dated 29.03.2022, passed in
ARC.No.09 of 2020 on the file of the Vellore District Chit Fund Cases
Court, and consequently to raise the attachment order of properties more
fully described in the schedule-2(Doc. No.1406/2017).
For Petitioner : Mr.K.S.Navin Balaji
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C.R.P.No.2276 of 2023
For Respondents : Mr.D.Shivakumar for R1
ORDER
This Civil Revision Petition is filed to set aside the order dated
29.03.2022, made in A.R.C.No.09 of 2020 on the file of the Vellore District
Chit Fund Cases Court 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 29.03.2022 in ARC.No.9 of 2020 on the file of the
Chit Registrar, Vellore. Even though the revision petitioner has
predominantly challenged the order of attachment before
judgment and also the award, for which the appropriate remedy
is not before this Hon'ble Court, in view of the fact that the
Revision Petitioner/Judgment Debtor 4 and the 2nd
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C.R.P.No.2276 of 2023
respondent/judgment debtor 1 are ready to satisfy the award
amount on the basis of an out of Court settlement, the 1 st
respondent/decree holder has consented for the present Joint
Memo of Compromise on the following
TERMS
i) Both the parties agree that the amount due to the
respondent can be frozen at Rs.46,34,440/-.
ii) The petitioner/Judgment Debtor 4 and the 2nd
respondent/ Judgment Debtor 1 shall pay the same in nine
monthly installments for which the revision petitioner and 2nd
respondent have given nine post-dated cheques issued by the 2nd
respondent/Judgment Debtor 1 to the 1st respondent/decree
holder, the details of which are as follows:
Sl. Cheque No. & Date Bank & Branch Amount
No (Rs.)
1 000347 KVB,Velachery 2,50,000
&30.07.2023 Branch
2 000350 KVB,Velachery 2,50,000
&30.08.2023 Branch
3 000351& KVB,Velachery 2,50,000
30.09.2023 Branch
4 000352 KVB,Velachery 2,50,000
&30.10.2023 Branch
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C.R.P.No.2276 of 2023
Sl. Cheque No. & Date Bank & Branch Amount
No (Rs.)
5 000353& KVB,Velachery 7,26,888
30.11.2023 Branch
6 000354& KVB,Velachery 7,26,888
30.12.2023 Branch
7 000355& KVB,Velachery 7,26,888
30.01.2024 Branch
8 000356&28.02.2024 KVB,Velachery 7,26,888
Branch
9 000357& KVB,Velachery 7,26,888
29.03.2024 Branch
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.4 and with the
Government of Tami Nadu in respect of the property which is
the subject matter of attachment before judgment in ARC.No.9
of 2020 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
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C.R.P.No.2276 of 2023
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 07.10.2021.
iv) It is mutually agreed that in the event of dishonour of any of
the above said cheques when presented by the 1st respondent
on the due date for collection, the settlement recorded to-day
shall stand automatically cancelled and the 1st respondent
/decree holder shall become automatically entitled to enforce
and execute the award dated 29.03.202 in ARC No.9 of 2020
as awarded with 24% per annum, besides such default may be
treated as a violation of this order in the revision.”
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C.R.P.No.2276 of 2023
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 order. Therefore, the 1st respondent/decree holder is entitled to enforce
and execute the award dated 29.03.2022 in ARC No.9 of 2020, with 24% per
annum and the Sub Registrar, Thusi, Thiruvannamalai District is directed to
accept the same and make an endorsement in the Register. With the above
direction, this Civil Revision Petition is disposed of. No costs.
18.07.2023
(1/2)
jai
Index:Yes/No
Speaking Order: Yes/No
Note: Issue order copy on 19.07.2023
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C.R.P.No.2276 of 2023
To
The Vellore District Chit Fund Cases Court.
Vellore.
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C.R.P.No.2276 of 2023
Mrs.V. BHAVANI SUBBAROYAN, J.
jai
C.R.P.No.2276 of 2023
18.07.2023
(1/2)
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