Siva Compulink Limited v. Mr. R.K.Sipani

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 09.11.2023

CORAM

THE HONOURABLE MR.JUSTICE ABDUL QUDDHOSE M/s.Siva Compulink Limited Rep. By its Director ..

Plaintiff -vs1.R.K.Sipani 2.Dinesh Sipani 3.Suraj Devi Sipani ..

Defendants PRAYER: Civil Suit is filed under Order IV Rule 1 of O.S. Rules read with Order VII Rule 1 CPC, praying:- (a) for a sum of Rs.3,75,62,044.52/- together with interest at 30% per annum and liquidated damages at 3% per annum from the date of the suit till the date of realization;

(b) for a direction to the defendants to pay the said sum within such period as this Court may deem fit in the circumstances of the case; (c) for pledge decree against schedule mentioned shares belonging to the defendants;

(d) In the event of the defendants not complying with the clauses (a) and (b) supra, direct the defendants herein to execute transfer of the shares 1/3

in favour of the plaintiff of their nominees or sell the said shares in open market and the amount received to be adjusted against the decree amount; (e) In the event there is a shortfall by the sale of the shares, direct the defendants jointly and severally and personally to pay the difference amount personally; and (d) to pay the cost of the suit.

For Plaintiff : S.Surya for M/s.A.S.Kailasam & Associates For Defendants : No Appearance

JUDGMENT

The learned counsel for the plaintiff submits that the matter has been settled out of Court. The learned counsel on record for the plaintiff has also made an endorsement in the Court bundle to that effect. Recording the said endorsement, the suit is dismissed as settled out of Court. Refund of full Court fee is ordered.

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ABDUL QUDDHOSE, J.

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