Narendra Properties Ltd v. Statco Infraprojects Ltd.,

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 22ND DAY OF NOVEMBER 2021 THE HON'BLE MR. JUSTICE N. SESHASAYEE C.S. No. 680 of 2017 M/s. Narendra Properties Ltd., Represented by its Managing Director, Mr. Chirag Maher, Having its Office at Makanji House 2nd Floor, 49 (Old 25), Barnaby Road, Kilpauk, Chennai - 600 010.

... Plaintiff -VsM/s Statco Infraprojects Ltd., Represented by Mr. Manoj Kantibhai Sheth, Managing Director, Aged about 54 Years, No. 4/4, Ground Floor, Justice Ramanujam Street, Malavya Avenue, Chennai - 600 041.

... Defendant Civil Suit praying that this Hon'ble Court may be pleased to pass a Judgment and Decree against the defendant;

a) Directing the defendant to pay the sum of Rs.87,50,000/- (Rupees Eighty-Seven Lakhs Fifty Thousand only), together with interest on Rs.50,00,000/- Principal at the rate of 18% per annum from the date of Plaint till the date of realization in full.

b) pay the cost of the suit to the Plaintiffs. This Civil Suit along with the Tr.C.S.No. 331 of 2019 coming on this day before this court for hearing in the presence of M/s Aiyar and Dolia, Advocates for the Plaintiff herein and Mr.Vaibhav R. Venkatesh, Advocate for the Defendant herein and upon reading the Plaint filed herein in C.S.No.680 of 2017 and both sides made a joint statement that the dispute between the parties has been compromised before NCLT, consequent to which, both the suits are withdrawn as settled out of Court, it is ordered as follows:- That the suit in C.S.No. 680 of 2017, be and is hereby dismissed as settled out of Court.

2. That a certificate under section 69 of Tamil Nadu Court Fees and Suits Valuation Act, XIV of 1955, do issue herein, out of and under the seal of this Court, in favour of M/s. Narendra Properties Ltd., Rep by its Managing Director Mr. Chirag Maher, the plaintiff herein, authorising them, to receive from the Pay and Accounts Office, High Court, Madras, a sum of Rs.91,025/- (Rupees Ninety One Thousand Twenty Five only) being the

entire Court Fee paid on the Plaint by the Plaintiff herein.

3. That there shall be no costs of this suit. WITNESS THE HON'BLE MR. JUSTICE MUNISHWAR NATH BHANDARI, ACTING CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 22ND DAY OF NOVEMBER 2021. Sd/- ASSISTANT REGISTRAR (O.S.II) //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.

ED 28.12.2021 C.S. No. 680 of 2017

ORDER

DATED: 22.11.2021 THE HON'BLE MR. JUSTICE N.SESHASAYEE FOR APPROVAL: 28/12/2021 APPROVED ON: 03/01/2022

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 22.11.2021 CORAM : JUSTICE N.SESHASAYEE C.S.No.680 of 2017 and Tr.C.S.No.331 of 2019 1.M/s.Narendra Properties Ltd.

Represented by its Managing Director Mr.Chirag Maher Having its office at :

Makanji House 2nd Floor 49 (Old No.25) Barnaby Road Kilpauk, Chennai - 600 010.

... Plaintiff in CS.No.680 of 2017 2.M/s.Statco Infraprojects Pvt. Ltd., No.4/4, Ground Floor Justice Ramanujam Street Malavya Avenue, Chennai - 600 041.

... Plaintiff in Tr.C.S.No.331 of 2019 Vs.

1.M/s.Statco Infraprojects Ltd., Represented by Mr.Manoj Kantibhai Sheth Managing Director No.4/4, Ground Floor Justice Ramanujam Street Malavya Avenue, Chennai - 600 041.

... Defendant in C.S.No.680 of 2017 2.M/s.Narendra Properties Ltd.

Represented by its Managing Director Mr.Chirag Maher Having its office at :

Makanji House 2nd Floor

49 (Old No.25) Barnaby Road Kilpauk, Chennai - 600 010.

... Defendant in Tr.CS.No.331/2019 Prayer in CS.No.680 of 2017 : Civil Suit filed under Order VII Rule 1 and 2 of the CPC read with Order IV Rule 1 & 2 of the Original Side Rules praying to pass a judgment and decree against the defendant : (a) directing the defendant to pay the sum of Rs.87,50,000/- (Rupees Eighty Seven Lakhs Fifty Thousand only) together with interest on Rs.50,00,000/- principal, at the rate of 18% per annum from the date of plaint till the date of realization in full; (b) pay the cost of the suit to the plaintiff; (c) pass such further or other order as this Court may deem fit and reasonable in the circumstances of the case. Prayer in Tr.CS.No.331 of 2019 : Civil Suit filed under Order VII Rule 1 of CPC praying to pass a judgment and decree : (a) declaring that the document dated 01.04.2013, 26.04.2013, 31.03.2014 and 31.03.2015 allegedly issued by the plaintiff / its officers to the defendant or its agents/officers as null and void and not binding on the plaintiff;

(b)permanent injunction restraining the defendant, its agent officers, servants or anyone or any organisation claimng through or under them from relying / using the document dated 01.04.2013, 26.04.2013, 31.03.2014 and 31.03.2015 allegedly issued by the plaintiff / its officers to the defendant or its agents/officers before any legal proceeding or in any manner whatsoever against the plaintiff;

(c) direct the defendant to pay the costs of the suit to the plaintiff and (d)pass such further or other order as this Court may deem fit in the facts and circumstances of the present case. In C.S.No.680 of 2017 :

For Plaintiff : M/s.Aiyar and Dolia For Defendant : Mr.Vaibhav R.Venkatesh In Tr.C.S.No.331 of 2019 :

For Plaintiff : Mr.Vaibhav R.Venkatesh For Defendant : M/s.Aiyar and Dolia COMMON JUDGMENT Both sides made a joint statement that the dispute between the parties has been compromised before NCLT, consequent to which, both the suits are withdrawn as settled out of Court.

2. The suits are dismissed as settled out of Court. The Registry is required to refund the Court fee to the respective plaintiff's as per law. No costs.

Sd./-N.S.S.J., 22.11.2021 //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.