Xchanging Solutions Ltd. v. True Value Homes (India) Pvt. Ltd.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 17.12.2021
CORAM
THE HON'BLE MR. JUSTICE N.ANAND VENKATESH Cont P.No.825 of 2021 Xchanging Solutions Ltd.
Represented by its Advisor Attorney 1st Floor, Citus Tower, Olympia Tech Park, #1-Sidco Industrial Estate, Guindy, Chennai-600 032, (TamilNadu) India.
... Petitioner .Vs.
1.True Value Homes (India) Pvt.Ltd.
Represented by Mr.Ravichandran Naryanan (Managing Director) No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
2.Maavadi Soft Tech Ventures (India)Pvt. Ltd. Represented by Mr.Pradeep Kumar (Director) No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
3. Mr.B.Mukesh, Authorised Signatory True Value Homes Pvt. Ltd.
No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
4.Mr.Ravichandran Narayanan, Managing Director, True Value Homes Pvt. Ltd.
No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
5.Ms.Kalaiarasi Murugesan Director, True Value Homes Pvt. Ltd.
No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
6.Mr.Prakash Chand Pooja, Company Secretary, True Value Homes Pvt. Ltd.
No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
7.Pradeep Kumar, Director, Maavadi Soft Tech Ventures (India) Pvt Ltd.
No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
8.Mr.Prasanna Kumar, Director Maavadi Soft Tech Ventures (India) Pvt Ltd.
No.21, C.V.Raman Road, Alwarpet, Chennai 600 018.
... Respondents Contempt Petition filed under Section 11 of the Contempt of Courts Act 1971, praying to punish the respondents for willfully disobeying the order dated 25.09.2019 in A.No.3992 of 2017 and O.P.No.901 of 2018. For Petitioner : Mr.Raj Kumar Jhabakh For Respondents : Mr.Abhishek Jenasenan
O R D E R
This contempt petition is filed by complaining that the order dated 25.09.2019 passed by this Court in A.No.3992 of 2017 and O.P.No.901 of 2018
has not been complied with.
2.It is brought to the notice of this Court that subsequent to the initiation of the contempt petition, the parties negotiated and ultimately the sum of Rs.1,03,36,915/- (Rupees One Crore Three Lakhs Thirty Six Thousand Nine Hundred and Fifteen only) has been paid by the respondents to the petitioner. The learned counsel for the petitioner submitted that there is an interest component that is due and payable by the respondents and the negotiations are going on with respect to the same.
3.In the considered view of this Court, the order passed by this Court on 25.09.2019 has been complied with, since, the respondents have paid the sum of Rs.1,03,36,915/-. Insofar as the interest portion is concerned, it is left open to the parties to continue with the negotiation and settle it among themselves. 4.Accordingly, this Contempt Petition is closed. SD/- ASSISTANT REGISTRAR (COMM.CASES) ssr/nsa //Certified to be true copy// Dated at Madras this the day of 2022. COURT OFFICER(O.S.) from 25th day of September 2008 the Registry is issuing Certified copies of the Orders/Judgments/Decrees in this format.
GS/08.03.2022