Madras High Court

Jesuvenin vs M/S Shriram Chits Tamil Nadu Pvt Ltd on 17 October, 2024

                                                                 C.R.P.Nos.4218 of 2023 and 4262 of 2024



                                  IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                 DATED : 17.10.2024

                                                      CORAM

                             THE HONOURABLE THIRU JUSTICE A.D.JAGADISH CHANDIRA

                                        C.R.P.Nos.4218 of 2023 and 4262 of 2024
                                     and CMP Nos.25644 of 2023 and 23702 of 2024

                 CRP No.4218 of 2023:

                 1.Jesuvenin
                 2.Venkatesh
                 3.V.S.Govardhan
                 4.R.Ashok Kumar                                                   ... Petitioners

                                                         vs
                 1. M/s Shriram Chits Tamil Nadu Pvt Ltd.,
                    Rep by its Law Officer,
                    M.Sivaraja,
                    Mount Road Branch,
                    Chennai-600 005.

                 2. N.Jeeva                                                        .... Respondents

                 CRP No.4262 of 2024

                 N.Jeeva                                                              ..... Petitioner

                                                         vs



                 1. M/s Shriram Chits Tamil Nadu Pvt Ltd.,

                 1/10
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                                                                   C.R.P.Nos.4218 of 2023 and 4262 of 2024

                     Rep by its Law Officer,
                     M.Sivaraja,
                     Mount Road Branch,
                     Chennai-600 005.

                 2. Jesuvenin
                 3. Venkatesh                                                        .... Respondents

                 Prayer in CRP No.4218 of 2023:
                            Civil Revision Petition filed under Section 115 of Civil Procedure Code
                 against the order passed in E.P.No.2008 of 2022 in A.R.C.No.98 of 2021 on the
                 file of X Assistant Judge, City Civil Court, Chennai dated 13.03.2023.
                 Prayer in CRP No.4262 of 2023:
                            Civil Revision Petition filed under Section 115 of Civil Procedure Code
                 against the order passed in E.P.No.2010 of 2022 in A.R.C.No.98 of 2021 on the
                 file of X Assistant Judge, City Civil Court, Chennai dated 13.03.2023.


                                       For Petitioners     : Mr.Aushadullah
                                       in CRP No.4218/2023
                                       For Respondents     : Mr Adarsh Subramanian
                                       in CRP No.4218/2023 For R.1

                                       For Petitioner in
                                       CRP No.4262/2024
                                       For Respondents    : Mr.Adarsh Subramanian
                                       in CRP No.4262/2024 For R.1
                                                            Mr.Aushadullah
                                                            For R.2 and R.3


                                               COMMONORDER

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Both these matters arise out of ARC No.98 of 2021 on the file of X

Assistant Judge, City Civil Court, Chennai.

2. The petitioner in CRP No.4262 of 2024 viz., N.Jeeva, W/o

P.J.Mohankumar, is the principal borrower/subscriber of Chit, having borrowed

an amount of Rs.10,00,000/- from the respondent M/s Shriram Chits Tamil Nadu

Pvt Ltd. The petitioners in CRP No.4218 of 2023 are the guarantors for the chit

amount borrowed by the principal/subscriber. Since the said Jeeva/borrower had

not repaid the amount, the Chit Company, viz., M/s Shriram Chits Tamil Nadu

Pvt Ltd have initiated ARC 98 of 2021 and an Award was passed on 06.10.2021

in ARC No.98 of 2021 for an amount of Rs.8,47,336/- together with interest and

cost thereon by attachment of salary of the judgment debtors 2 to 5.

3. The guarantors have filed an unnumbered CRP with a petition to

condone the delay of 232 days in filing the revision and the delay is condoned by

today (17.10.2024) in CMP No.9848 of 2024.

4. When these matters were listed before this Court on 19.09.2024, this

Court, taking into consideration of the submissions made by the parties, had

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referred the matter to the Tamil Nadu Mediation and Conciliation Centre, High

Court, Chennai, pursuant to which, the parties have appeared before the

Mediation and settlement has been arrived at between the parties. The parties

have filed Joint Memo of Compromise, based on which, Mediation Report dated

04.10.2024 has been filed before this Court.

5. Learned Counsel for the petitioner in CRP No.4262 of 2024 would

submit that the petitioner, being the main borrower, has agreed to settle the entire

amount in instalments and she has also agreed to pay the balance amount.

Learned counsel further submits that the petitioner had agreed to pay a sum of

Rs.9,25,000/- and the respondent Chit Company agreed to waive the remaining

amount, pursuant to which, the petitioner has paid a sum of Rs.4,00,000/- on

04.10.2024 and agreed to pay the balance amount by way of instalments and

memo of compromise has been entered into between the parties. Learned counsel

further submits that the petitioner undertakes to abide by the joint memo of

compromise and prays that the revisions may be allowed based on the joint memo

of compromise and the matter may be listed for reporting compliance in the first

week of February 2025.

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6. Learned counsel for the Chit Company submits that the matter has been

settled between the parties and he submits that the matter may be posted for

reporting compliance on 05.02.2025.

7. The Joint Compromise Memo filed by the parties reads as follows:-

“ JOINT MEMORANDUM OF COMPROMISE”

It is humbly submitted that both the above mentioned cases are referred to Mediation by this Hon'ble Court by order dated 19.09.2024.

As directed by this Hon'ble Court all the parties appeared before the Tamil Nadu Mediation and Conciliation Center, High Court, Chennai on 27.09.2024 at 11.30 a.m, and Ms.S.Jayakumari and Ms.Raj Genevive Veena were nominated as Mediators to mediate the case between the parties.

Both the above mentioned Civil Revision Petitions are filed to set aside the passed in EP No.2008/2022 in ARC No.98/2021 dated 13.03.2023 by the file of the Learned X Assistant Judge, City Civil Court, Chennai. As such, the mediations were held on 27.09.2024, 30.09.2024, 03.10.2024 and 04.10.2024 by the Learned Mediators and during the course of mediation, the parties above named arrived to an amicable settlement among themselves and the same is reduced into writing as follows:-

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1. The Petitioner in CMP No.9848 of 2024 in CRP SR No.38519 of 2024 viz., N.Jeeva, who is arrayed as Respondent No.2 in CRP No.4218 of 2023 is the borrower. The Respondents 2 to 5 in CMP No.9848 of 2024 in CRP SR No.38519 of 2024 and Petitioners 1 to 4 in CRP No.4218 of 2023 are the Guarantors/Sureties for the above named N,Jeeva.

2. The above named N.Jeeva has agreed to pay a sum of Rs.9,25,000/-

(Rupees Nine Lakhs and Twenty Five Thousand only) as full and final settlement to M/s Shriam Chits Tamil Nadu Pvt Ltd., and M/s Shriram Chits Tamil Nadu Pvt Ltd., has greed to receive the said amount of Rs.9,25,000/- (Rupees Nine Lakhs and Twenty Five Thousand only) and hereby waive the remaining amount.

3. The above named N.Jeeva, on this day i.e., 04.10.2024 has paid a sum of Rs.4,00,000/-(Rupees Four Lakhs only) by way of NEFT Transfer vide Reference No.IDIBH24278481674 to the account of M/s Shriram Chits Tamil Nadu Pvt Ltd., and the same has been acknowledged and accepted.

4. The above named N.Jeeva, further undertakes and agrees to pay a sum of Rs.2,00,000/-(Rupees Two Lakhs only) on or before October 31st 2024 to the account o M/s Shriram Chits Tamil Nadu Pvt Ltd by way of NEFT Transfer.

5. The above named N.Jeeva, agrees and undertakes to pay the

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remaining sum of Rs.3,25,000/-(Rupees Three Lakhs and Twenty Five Thousand only) in the following manner:-

i) A sum of Rs.50,000/- (Rupees Fifty Thousand only) will be paid by N.Jeeva to the account of M/s Shriram Chits Tamil Nadu Pvt Ltd., by way of NEFT Transfer on or before 27th November 2024.

ii) A sum of Rs.1,25,000/- (Rupees One Lakh and Twenty Five Thousand only) will be paid by N.Jeeva to the account of M/s Shriram Chits Tamil Nadu Pvt Ltd by way of NEFT Transfer on or before 27 th December 2024.

iii) A sum of Rs.1,50,000/-(Rupees One Lakh Fifty Thousand only) will be paid by N.Jeeva to the account of M/s Shriram Chits Tamil Nadu Pvt Ltd., by way of NEFT Transfer on or before 27th January 2025.

6. Thus, the above named N.Jeeva undertake and agrees to make payment as aforementioned without any delay or default. Failure to make the payment as aforementioned by the borrower, both the borrower and the Guarantors agrees for proceeding against them in accordance with law.

7. The above named N.Jeeva, further hereby undertakes that in case of failure to comply with the payments within the time stipulated as aforementioned by her, M/s Shriram Chits Tamil Nadu Pvt Ltd can file appropriate application before this Hon'ble Court seeking for recovery of the entire amount as tabulated in the Execution Petition along with future interest and including filing a Contempt Petition

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before this Hon'ble Court without any further notice for non- complying the terms of joint memorandum of compromise as against both the borrower and the guarantors.

8. It is made clear that if the borrower failed to make the payment as aforementioned, M/s Shriram Chits Tamil Nadu Pvt Ltd will proceed against both the Borrower and the Guarantors in the manner known to law for receiving of the entire amount as tabulated in the Execution Petition along with future interest.

9. After making the entire payment as aforementioned, M/s Shriram Chits Tamil Nadu Pvt Ltd will issue No due Certificate to the borrower.

All the parties to this joint memorandum of compromise have read all the above conditions and signed the same in the presence of the Learned Mediators with their consents.

Dated at Chennai at this the 04th Day of October 2024.”

8. In view of the Joint Memorandum of Compromise, both the Civil

Revision Petitions are disposed of and E,P.Nos.2008 and 2010 of 2010 shall be

kept in abeyance till 14.02.2025. The Joint Memo of Compromise filed by the

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parties shall form part of the Court records.

9. No costs. Consequently, connected miscellaneous petition is closed.

10. Post the matter for reporting compliance on 05.02.2025.

17.10.2024 sr Index:yes/no website:yes/no

X Assistant Judge, City Civil Court, Chennai.

https://www.mhc.tn.gov.in/judis C.R.P.Nos.4218 of 2023 and 4262 of 2024

A.D.JAGADISH CHANDIRA,J,.