Mr.R.Vijaykumar v. Punjab National Bank

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 17.12.2018

CORAM

THE HONOURABLE MR.JUSTICE K.KALYANASUNDARAM C.S.No.209 of 2015 and O.A.No.293 of 2015

1. R.Vijayakumar

2. R.Ramkumar

3. Radhika Vijayakumar ... Plaintiffs Vs

1. Punjab National Bank, Rep. by its Assistant General Manager, T.Nagar Branch having office at No.10, Raja Street, Chennai - 600 017.

2. National Stock Exchange, Rep. by its Branch Manager, Having Branch Office at 8th Floor, Arihant Nitco Park, No.90, Dr. Radhakrishnan Salai, Mylapore, Chennai 600 004.

... Defendants Plaint filed under Order VII Rule 1 of CPC read with Order IV Rule 1 of O.S. Rules, praying for judgment and decree as follows: a) Declaration that the invocation of the pledge of 6,58,426 shares of the pledged shares of M/s. Gemini Communications Ltd. belonging to the plaintiffs, by the defendant Bank in their name, namely, Punjab National Bank on 25.02.2015 as null and void;

b) Consequential mandatory direction to restore the pledged shares of M/s. Gemini Communication Ltd. belonging to the plaintiffs, by the defendant bank in their name, namely, Punjab national Bank on 25.02.2015 and to restore the same in the name of the plaintiffs as set out below:

S.

No.

No. of Shares Name of the Bank Shares Pledged by 23,84,705 PNB Vijay Kumar 5,57,523 PNB Ram Kumar 33,19,400 PNB Radhika VijayKumar c) Permanent injunction restraining the defendants from alienating the pledged shares of the plaintiffs without notice and due process of law; and d) Costs of the suit.

For Plaintiffs : Mr.V.Sankaranarayanan For Defendants : Mr.S.Arunkumar, for D1 Mr.M.L.Ganesh, for D2

JUDGMENT

The learned counsel appearing for the plaintiffs seeks permission of this Court to withdraw the Civil Suit and he has also made an endorsement to that effect.

2. Recording the above submission and endorsement made by the learned counsel for the plaintiffs, the Civil Suit is dismissed as withdrawn. No costs. Consequently, connected application is closed. 17.12.2018 Index : Yes/No Internet: Yes/No Speaking Order/Non Speaking Order pvs To The Sub Assistant Registrar, Original Side, High Court, Madras.

K.KALYANASUNDARAM, J., pvs C.S.No.209 of 2015 17.12.2018