R.Kanagavel v. Thangam Metal Cans Private Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS

Dated : 14.07.2023

CORAM

THE HONOURABLE Ms. JUSTICE P.T. ASHA C.S.No. 1122 of 2009 & A.Nos. 541 to 546 of 2017

1. R.Kanagavel

2. R.Mahesh Kumar

3. K.M.Metal Containers Private Limited Represented by its Director R.Mahesh Kumar 71, Muthusamy Street, Virudhunagar - 626 001.

... plaintiffs Vs.

1. Thangam Metal Cans Private Limited Represented by its Director L.Balaji 17 & 26, Thiruvottriyur High Road, New Washermenpet, Chennai - 600 081.

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2. R.Lenin

3. R.Srinivasan

4. L.Balaji

5. L.Saravanan

6. M.Venkatesh Kumar

7. M.Rajesh Kumar

8. S.Krishna Kumar

9. L.Desigamani

10. Athitya Kumar (Minor) Represented by his father L.Balaji, 4th defendant

11. B.Ramkumar ... defendants Prayer: Plaint filed under Order VI Rule 1 of the Original Side Rules read with Order VII Rule 1 of the CPC; for a Decree of Declaration that Plaintiffs 1 and 2 did not cease to be Directors and Shareholders holding 27.5% and 27,500 Number of shares in the First Defendant and also entitled to the subsequent allotment of shares if any in the First Defendant Company and they continue to have all the rights as entitled in the Firm Constituted under the Partnership Deed dated 01.04.2001 entered into between Plaintiffs and Defendants 1 to 8 and 2/5

as confirmed, provided, taken over, and vested in the First Defendant as per the Memorandum and Articles of Association of the First Defendant; For a Decree of Mandatory Injunction directing the Defendants herein or anyone of them to alter / correct all the Records of the 1st Defendant and to take all the steps as prescribed by Law to restore and reflect that the Plaintiffs 1 and 2 are Directors of the First Defendant holding 27.5% and 27,500 number of shares in the said First Defendant; For a Decree of Permanent Injunction restraining Defendants 1 to 5, 9 and 10 from preventing and obstructing Plaintiffs 1 and 2 from functioning as Directors and Share holders of the 1st Defendant; Alternatively, in the place of the Prayers (a) and (b) (i) & (ii) above for a Declaration that the Firm constituted under the Deed of Partnership dated 01.04.

2001 between Plaintiffs 1 and 2 and defendants 2 to 8 stood dissolved as on 04.12.2006 and direct an Account be taken of the assets of the said Firm, now taken over, vested and possessed by the First Defendant and to ascertain the amount due to the Plaintiffs 1 and 2 and direct the payment of the same by Defendants 1 to 5, 9 to 10 and For a Decree for a sum of Rs.1,82,03,978/- together future interest at 12% per annum on the sum of Rs.1,82,03,978/- till date of payment against Defendants 1 to 5, 9 and 10.

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For Plaintiffs :

Mr. M.Syed Ibrahim For Defendants :

No Appearance 1 to 4, 8 to 11 For Defendants :

Set Ex parte.

5 & 6 For Defendant 7 :

Dismissed by the learned Master on 19.04.2011.

ORDER

The learned counsel for the plaintiffs has filed a memo stating that the matter has been settled out of the Court and therefore they may be permitted to withdraw the suit. Accordingly, the suit is dismissed as settled out of the Court. Consequently, the connected applications are closed. No costs. The plaintiffs shall be entitled to the refund of the Court fee as per rules.

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