Sai Yogi Nidhi Limited v. R. Srinivasan And 2 Others

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 20.02.2026

CORAM

THE HONOURABLE MR.JUSTICE P.VELMURUGAN AND THE HONOURABLE MR.JUSTICE M.JOTHIRAMAN Cont P.No.1851 of 2025 Sai Yogi Nidhi Limited Represented by its Managing Director Harihara Subramaniyan No.313/1, D.No.1/2, Sastha Nagar, Villankurichi Village, Coimbatore - 641 004.

... Petitioner

Versus

1.

R.Srinivasan Proprietor of Raju Engineering Industries, 42, Textool Balasundaram Street, Aavarampalayam, Coimbatore - 641 006.

2.

Mutheeswari, D.No.62, Shanmathi Nivas, North South 3rd Street, Muthusamy Colony, Selvapuram, Coimbatore - 641 026.

3.

D.K.Balamurugan,

Manager, Cholamandalam Investment and Finance Company Ltd., Corp Off : Chola Crest C54 & 55, Super B-4, Thiru Vika Industrial Estate, Gundy, Chennai - 600 032, Branch Office : Nos.301, 302, A Block, Raheja Centre, 3rd Floor, Avinashi Road, Coimbatore - 641 018.

... Respondents Contempt Petition filed under Section 10 of Contempt of Courts Act, 1971, praying to punish the respondent No.1 for the act of contempt of Court, with maximum terms imprisonment along with fine and to set aside the sale deed executed by respondent No.1, in favour of respondent No.2 herein, via Document No.862/2024 as non-est void ab initio to set aside the MOD executed by respondent No.1, in favour of respondent No.3 herein via Document No.486/2024 as non-est, and cancelled, award costs. For Petitioners :

Mr.M.Karunanatham For Respondents :

Mr.B.Mohan for R1 Mr.P.Dinesh Kumar for R2 Mr.Kishore Bala Subramanian for R3

O R D E R

(Order of the Court was made by P.VELMURUGAN, J.) This Contempt Petition has been filed to punish the first respondent for wilful and deliberate disobedience of the order passed by the Court, by imposing the maximum term of imprisonment and fine, and consequently,

declare the Sale Deed registered as Document No.862/2024 executed by the first respondent in favour of the second respondent and the Memorandum of Deposit of Title Deeds registered as Document No.486/2024 in favour of the third respondent as non-est and void ab initio, with a consequential direction for cancellation of the said documents and for award of costs.

2. When the matter was taken up for hearing today, the learned counsel for the first respondent/contemnor submitted that a total sum of Rs.4,57,244/- has been remitted to the petitioner. The said amount comprises Rs.3,50,000/- towards the principal suit claim, paid through online transfer, and Rs.1,07,244/- towards interest at the rate of 12% per annum for the period from 24.07.2023 to 09.02.2026, remitted through Bank. A memo dated 13.02.2026 to this effect has been filed before this Court. The learned counsel for the petitioner has acknowledged receipt of the said amount.

3. Recording the aforesaid compliance, the Contempt Petition stands closed.

[P.V.,J.] [M.J.R.,J.] 20.02.2026 ms

P.VELMURUGAN, J., AND M.JOTHIRAMAN, J., ms 20.02.2026