Indchem Sales Coporation v. Sura Leathers Pvt.Ltd.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 08.02.2024

CORAM

THE HONOURABLE MR.JUSTICE ABDUL QUDDHOSE Indchem Sales Corporation, 62, EVK Sampath Road, Vepery, Chennai - 7.

Rep. By its partner Paresh Pratap Vasa .. Plaintiff in C.S.No.69/20 Techno Chem Distributors, Atkinson Palace, first floor, No.4, Jothi Venkatachalam Road, Vepery, Chennai - 7.

Rep. By its partner Paresh Pratap Vasa .. Plaintiff in C.S.No.70/20 /versus/ 1.Sura Leathers (P) Ltd., No.108/1, Guidyatham Road, Thuthipet Post, Ambur - 635 811.

2.Satnur Ramachandra Rao Ramprasad 3.Malalur Sudhindra Sriharsha 4.Supreme Overseas Exports India Private Limited.

.. Defendants in both suits Prayer in C.S.No.69 of 2020: Civil Suit has been filed under Section 2 sub-section 1 (c) (i) of the Commercial Courts Act, 2015, read with Order VII Rule 1 of O.S.Rule read with Order XXXVII Rule 1 and 2 of 1/4

CPC, praying:- (a) to direct the defendants 2 to 4 to pay the suit amount of Rs.5,53,61,330/- with interest @ 24% p.a. on principal amount of Rs.3,26,23,322/- from the date of the suit till the date of realization; (b) to award costs of the suit; and (c) to lift the corporate veil of the first defendant and declare the first defendant as fraudulent entity in the hands of the defendants 2 to 4. Prayer in C.S.No.70 of 2020: Civil Suit has been filed under Section 2 sub-section 1 (c) (i) of the Commercial Courts Act, 2015, read with Order VII Rule 1 of O.S.Rule read with Order XXXVII Rule 1 and 2 of CPC, praying:- (a) to direct the defendants 2 to 4 to pay the suit amount of Rs.4,12,65,254/- with interest @ 24% p.a. on principal amount of Rs.2,43,16,814/- from the date of the suit till the date of realization; (b) to award costs of the suit; and (c) to lift the corporate veil of the first defendant and declare the first defendant as fraudulent entity in the hands of the defendants 2 to 4. For Plaintiff : Mr.P.Senthil Dhandapani For Defendants : Mr.Sathyanarayanan 2/4

COMMON J U D G M E N T The learned counsel for the plaintiff in both the suits seeks permission of this Court to withdraw the suit. He has also made an endorsement to that effect in the Court bundle. Accordingly, these suits are dismissed as withdrawn. Refund of full court fee is ordered to the plaintiff in both the suits.

08.02.2024 rkm 3/4

ABDUL QUDDHOSE, J.

rkm 08.02.2024 4/4