Indian Overseas Bank v. Suryadev Alloys And Power Pvt. Ltd.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 25.06.2024
CORAM
THE HON'BLE MR. JUSTICE M. SUNDAR AND THE HON'BLE MRS. JUSTICE K. GOVINDARAJAN THILAKAVADI O.S.A. Nos. 214 & 264 of 2020 & C.M.P. No. 10734 of 2020 in Indian Overseas Bank Royapuram Branch represented by its Branch Manager, 62/153 and 63/155, Mannarswamy Koil Street, Royapuram, Chennai - 600 013.
..Appellant Vs.
Suryadev Alloys and Power Private Limited, represented by its Authorised Signatory and Chief Financial Officer, Mr.Muzaffer Ahmed, 497 & 498, 8th Floor, Isana Building, P.H. Road, Arumbakkam, Chennai - 600 106.
..Respondent Prayer:
Original Side Appeal under Order XXXVI Rule 1 of Original
Side Rules read with clause 15 of Letters Patent as against the judgment and decree dated 11.12.2019 passed in C.S.(Comm.Div.)No. 1 of 2019. For Appellant ::
Mr. Aashish Dafaria For Respondent ::
Mr.K. Gowtham Kumar O.S.A. No. 264 of 2020 Suryadev Alloys and Power Private Limited, represented by its Authorised Signatory and Chief Financial Officer, Mr.Muzaffer Ahmed, 497 & 498, 8th Floor, Isana Building, P.H. Road, Arumbakkam, Chennai - 600 106.
..Appellant Vs.
Indian Overseas Bank represented by its Branch Manager, 62/153 and 63/155, Mannarswamy Koil Street, Royapuram, Chennai - 600 013.
..Respondent Prayer:
Original Side Appeal under Order XXXVI Rule 1 of Original Side Rules read with clause 15 of Letters Patent as against the judgment and decree dated 11.12.2019 passed in C.S.(Comm.Div.)No. 1 of 2019. For Appellant ::
Mr.K. Gowtham Kumar
For Respondent ::
Mr. Aashish Dafaria COMMON JUDGMENT (Delivered by M. SUNDAR,J.) Captioned 'Original Side Appeals' ['O.S.A.s' in plural and 'O.S.A.' in singular] and captioned 'Civil Miscellaneous Petition' ['C.M.P.' for the sake of brevity and convenience] in one of the captioned O.S.As are listed under the cause list caption 'FOR REPORTING SETTLEMENT/ARGUMENTS'. 2.
Mr.K. Gowtham Kumar, learned counsel on record for 'Indian Overseas Bank' ['IOB' for the sake of brevity and convenience] and Mr.Aashish Dafaria, learned counsel on record for 'Suryadev Alloys and Paper private limited' (hereinafter 'Suryadev' for the sake of brevity, convenience and clarity) are before this Court. 3.
Both learned counsel submit that the lis has been settled out of Court as between the parties and therefore, they have instructions to give closure to captioned O.S.As. by withdrawing the same. Saying so, learned counsel have made endorsements in the respective appeals as well as in
C.M.P. No.10734 of 2020 in O.S.A. No.214 of 2020. A scanned reproduction of the three endorsements is as hereunder:
4.
Before we write the concluding portion of this judgment, there is no disputation as between the learned counsel before us that a sum of Rs.8 crores is lying to the credit of captioned appeals by way of Fixed Deposits in the name of learned Registrar General of this Court. Both learned counsel make a joint request that the same can be paid out without going through the procedure of separate payment out application. 5.
In the light of common/joint request made, there shall be a direction for payment out with accrued interest in favour of IOB subject of course to statutory deductions, if any and subject to counsel for IOB complying with operating and obtaining procedures. 6.
As regards refund of court-fee, in the light of Section 69-A of Tamil Nadu Court Fees and Suits Valuation Act, 1955 and the judgment rendered in High Court of Judicature at Madras represented by Registrar General Vs. M.C. Subramaniam and Others reported in (2021) 3 SCC 560, Section 69-A would apply even to out of court settlement. We order refund of court-fee qua 69-A subject of course to statutory deductions, if any and subject to learned counsel for respective appellants complying with the
requisite/obtaining procedures.
7.
The aforementioned payment out directive and refund of courtfee directive shall be complied with by the Registry as expeditiously as the business of the Registry would permit, without insisting on a separate application for refund of court-fee, in any event, within six weeks from today, i.e., by 06.08.2024.
8.
Captioned O.S.As are disposed of as withdrawn/closed. Consequently, captioned C.M.P. in one of the captioned O.S.As is also disposed of as withdrawn/closed. There shall be no order as to costs. (M.S.J.) (K.G.T.J.) nv 25.06.2024 M. SUNDAR,J.
AND
K. GOVINDARAJAN THILAKAVADI,J.
nv O.S.A. Nos. 214 & 264 of 2020 & C.M.P. No. 10734 of 2020 in 25.06.2024 O.S.A.Nos.214 and 264 of 2020 and C.M.P.No.10734 of 2020 in O.S.A.No.214 of 2020
M.SUNDAR.J., AND K.GOVINDARAJAN THILAKAVADI.J., (Order of the Court was made by M.SUNDAR.J.,) Captioned matters were disposed of by a common judgment dated 25.06.2024 made by us and a scanned reproduction of the same is as follows :
2.Today, the captioned matters are listed under the cause list caption 'FOR BEING MENTIONED' as two inadvertent errors have crept in qua undisputed facts. They are at paragraph Nos.2 and 4 of our order dated 25.06.2024 (scanned and reproduced supra).
3. Two learned counsel Mr.K.Gowtham Kumar and Mr.Aashish Dafaria are before us in the Court and both learned counsel request for a correction in paragraph Nos. 2 and 4 of our order dated 25.06.2024.
4. As regards paragraph No.2 of our order dated 25.06.2024, learned counsel names as against their clients have been interchanged. Mr.K.Gowtham Kumar, learned counsel is counsel on record for 'Suryadev Alloys and Power Private Limited' ['Suryadev'] and Mr.Aashish Dafaria, learned counsel is counsel on record for 'Indian Overseas Bank' ['IOB']. This is the correct factual position.
5. Both learned counsel also submitted in one voice that the second factual error is at third line in paragraph 4 of our order that a sum of Rs.8 crores is lying to the credit of the suit i.e., Original Side of this Court and not to the credit of the captioned appeals. Therefore, in paragraph 4 supra, the expression 'captioned appeals' will now be replaced by 'a suit being C.S.(Comm.Div.) No.1 of 2019 on the file of Commercial Division of this Court [Original Side]'.
6. Both learned counsel request that these corrections may please be carried out in our order dated 25.06.2024 so as to ensure effective implementation of the order. Therefore, paragraph Nos.2 and 4 in our earlier order dated 25.06.2024 will now stand replaced as follows : '2. Mr.K. Gowtham Kumar, learned counsel on record for 'Suryadev Alloys and Power Private Limited' (hereinafter 'Suryadev' for the sake of brevity, convenience and clarity) and Mr.Aashish Dafaria, learned counsel on record for 'Indian Overseas Bank' ['IOB' for the sake of brevity and convenience] are before this Court.
4. Before we write the concluding portion of this judgment, there is no disputation as between the learned counsel before us that a sum of Rs.8 crores is lying to the credit of a suit being C.S.(Comm.Div.) No.1 of 2019 on the file of Commercial Division of this Court [Original Side] by way of Fixed Deposits in the name of learned Registrar General of this Court. Both learned counsel make a joint request that the same can be paid out without going through the procedure of separate payment out application.'
7. This proceedings which is made with the consent of learned counsel
on both sides will now be uploaded as corrigendum/erata/addendum to our earlier. All other aspects of our earlier order dated 25.06.2024 remain unchanged.
[M.S.J.] [K.G.T.J.] 10.07.2024 ds
M.SUNDAR.J., AND K.GOVINDARAJAN THILAKAVADI.J., ds O.S.A.Nos.214 and 264 of 2020 10.07.2024