On the compromise arrived between parties, the suit was decreed in terms of the compromise. The parties shall bear their own costs.
Decreed in terms of compromise; parties to bear own costs.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 05.03.2018
CORAM
THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN
C.S.No.41 of 2000
M/s.Dugar Housing Limited, Represented by its Chairman, 'Dugar Towers', 123, Marshalls Road, Egmore, Chennai – 600 008. [Amended as per order dated 22.01.2018 in Application No.433 of 2018]
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5.Oriental Insurance Co. Ltd.,
'Oriental House' 7th Floor, No.7, Jamshedji Tata Road, Mumbai – 400 020.
... Defendants
Plaint filed under Order IV Rule 1 of Original Side Rules read with Order VII Rule 1 C.P.C. praying to pass a judgment and decree:
(a) for a declaration that Circular No.71, 96 and 106 put forward by the defendants 1 to 3 as a ground for wrongfully withholding the interest free deposit amount of Rs.61 laksh of the plaintiff, morefully described in Schedule 'A' hereunder by not adjusting the dues claimed by the third defendant out of the Rs.61 lakhs deposit ('A' Schedule) in September 1997 itself and, at the same time, charging interest at 4.5% per month, i.e., 54% per annum for the amounts claimed by the third defendant, are all illegal and not enforceable in law and not valid and binding upon the plaintiff;
(b) for a declaration that the unilateral adjustments made by the defendants 1 to 3 out of the plaintiff's money of Rs.61 lakhs, morefully described in schedule 'A' hereunder calling it as interest at 54% per annum for the claim made by the third defendant, is illegal and not valid and binding upon the plaintiff.
(c) directing the defendants to pay the plaintiff a sum of Rs.61,69,000/- together with subsequent interest at 24% per annum from the date of plaint till date of realization;
(d) for a mandatory injunction directing the defendants
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to return the security scrips more fully described in the schedule 'B' hereunder or pay their value of Rs.3 lakhs to the plaintiff within a time to be fixed by this Hon'ble Court together with subsequent interest at 24% per annum from the date of plaint till date of realization;
(e) directing the defendants to pay the cost of the suit.
For Plaintiff : Mr.C.Jagadish
For defendants : Mr.Thiruvenkadasamy for D1 to D3
Mr.M.S.Murali
for R & P Partners for D4
Mr.R.Sivakumar for D5
J U D G M E N T
The matter was sent to mediation and the matter has been
compromised before the Mediation center. The parties have filed a Joint
Memo of Compromise praying for a decree in terms of compromise.
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provides that the parties shall bear their own costs.
05.03.2018
dsa
Index : No
Internet : Yes
Non-speaking Order
List of the witnesses examined on the side of the plaintiff :
PW1 – Ramesh Dugar
List of Exhibits marked on the side of the plaintiff:
| Sl. No. |
Exhibits | Description | Dated |
|---|---|---|---|
| 1 | Ex.P1 | Certified true copy of extract of minutes of the meeting of the Board of Directors. |
06.01.2012 |
| 2 | Ex.P2 | Xerox copy of letter sent by the 4thdefendant to the plaintiff. |
12.01.1996 |
| 3 | Ex.P3 | Xerox copy of fee and deposit structure (Annexure B) |
-- |
| 4 | Ex.P4 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. |
07.03.1996 |
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| Sl. No. |
Exhibits | Description | Dated |
|---|---|---|---|
| 5 | Ex.P5 | Xerox copy of the bank guarantee | 02.05.1997 |
| 6 | Ex.P6 | Xerox copy of letter sent by the plaintiff to the 1stdefendant. |
24.01.1998 |
| 7 | Ex.P7 | Xerox copy of letter sent by the plaintiff to the 4thdefendant. |
24.01.1998 |
| 8 | Ex.P8 | Xerox copy of letter sent by the 3rd defendant to the plaintiff. |
10.03.1998 |
| 9 | Ex.P9 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. |
11.03.1998 |
| 10 | Ex.P10 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. |
12.03.1998 |
| 11 | Ex.P11 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. |
20.03.1998 |
| 12 | Ex.P12 | Xerox copy of letter sent by the plaintiff to the 1stdefendant. |
08.05.1998 |
| 13 | Ex.P13 | Xerox copy of letter sent by the 3rd defendant to the plaintiff. |
09.05.1998 |
| 14 | Ex.P14 | Xerox copy of letter sent by the plaintiff to the 3rddefendant. |
15.05.1998 |
| 15 | Ex.P15 | Xerox copy of letter sent by the plaintiff to the 3rddefendant. |
22.05.1998 |
| 16 | Ex.P16 | Xerox copy of letter sent by the 3rd defendant to the plaintiff. |
25.05.1998 |
| 17 | Ex.P17 | Xerox copy of debit note sent by 3rd defendant to the plaintiff. |
19.06.1998 |
| 18 | Ex.P18 | Xerox copy of letter sent by the 3rd defendant to the plaintiff. |
13.08.1998 |
| 19 | Ex.P19 | Xerox copy of letter sent by the plaintiff to the 3rddefendant. |
18.08.1998 |
| 20 | Ex.P20 | Xerox copy of letter sent by the plaintiff to the 1stdefendant. |
02.09.1998 |
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| Sl. No. |
Exhibits | Description Dated |
|---|---|---|
| 21 | Ex.P21 | Membership department circular No.71 of the 1stdefendant. 14.08.1997 |
| 22 | Ex.P22 | Circular No.86 of the 1stdefendant. 24.11.1997 |
| 23 | Ex.P23 | Circular No.87 of the 1stdefendant. 24.11.1997 |
| 24 | Ex.P24 | Circular No.96 of the 1stdefendant. 24.03.1998 |
| 25 | Ex.P25 | Circular No.106 of the 1stdefendant. 24.07.1998 |
| 26 | Ex.P26 | Xerox copy of the order in W.P.No.14218/1998, High Court, Madras. 24.08.1999 |
| 27 | Ex.P27 | Xerox copy of legal notice issued by the plaintiff's counsel to the defendants 1 and 3. 07.09.1999 |
| 28 | Ex.P28 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. 09.12.1999 |
| 29 | Ex.P29 | Xerox copy of the notice published in the New Indian Express, Chennai. 10.12.1999 |
| 30 | Ex.P30 | Xerox copy of fresh certificate of incorporation consequent on change of name. 31.12.1996 |
List of the witnesses examined on the side of the defendants :
DW1 – Sunitha Anand
List of Exhibits marked on the side of the defendants:
| Sl. | Exhibits | Description | Dated | |
|---|---|---|---|---|
| No. | ||||
| 1 | Ex.D1 | Xerox copy of the letter sent by defendant to the plaintiff. |
the 5th | 04.07.2003 |
| 2 | Ex.D2 | Xerox copy of the letter sent by the to the 5thdefendant. |
plaintiff | 20.08.2003 |
| 3 | Ex.D3 | Authorisation letter given by | the 1st | 30.07.2012 |
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| Sl. No. |
Exhibits | Description | Dated |
|---|---|---|---|
| defendant. | |||
| 4 | Ex.D4 | Authorisation letter given by the 3rd defendant. |
30.07.2012 |
| 5 | Ex.D5 | Trading membership undertaking. | 24.11.1995 |
| 6 | Ex.D6 | Bye laws of the 1stdefendant. | June 2000 |
| 7 | Ex.D7 | Rules of the 1stdefendant. | December 1998 |
| 8 | Ex.D8 | Bye laws of the 3rddefendant. | May 1999 |
| 9 | Ex.D9 | Bye laws of the 1stdefendant. | -- |
| 10 | Ex.D10 | Rules of the 1stdefendant. | -- |
| 11 | Ex.D11 | Bye laws of the 3rddefendant. | -- |
| 12 | Ex.D12 | Circular No.71 of the 1stdefendant. | 14.08.1997 |
| 13 | Ex.D13 | Circular No.96 of the 1stdefendant. | 24.03.1998 |
| 14 | Ex.D14 | Circular No.106 of the 1stdefendant. | 24.07.1998 |
| 15 | Ex.D15 | Xerox copy of letter sent by 4thdefendant to the 1stdefendant. |
25.09.1998 |
| 16 | Ex.D16 (series) |
Letters sent by the plaintiff to the 1st defendant. (2 Nos.) |
01.09.1998 & 24.01.1998 |
| 17 | Ex.D17 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. |
20.03.1998 |
| 18 | Ex.D18 (series) |
Xerox copy of the letter sent by the plaintiff to the 3rddefendant. |
24.01.1998 |
| 19 | Ex.D19 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. |
12.03.1998 |
| 20 | Ex.D20 (series) |
Circular Nos.135 and 64. | 19.05.1997 |
| 21 | Ex.D21 | Affidavit -subsequent events. | 29.03.2012 |
| 22 | Ex.D22 | Xerox copy of letter sent by the 4thdefendant to the plaintiff. |
23.11.2005 |
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| Sl. No. |
Exhibits | Description Dated |
|---|---|---|
| 23 | Ex.D23 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. 15.03.2005 |
| 24 | Ex.D24 | Order issued by the 4thdefendant. 29.10.2009 |
| 25 | Ex.D25 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. 03.11.2009 |
| 26 | Ex.D26 | Courier receipt. 05.11.2009 |
| 27 | Ex.D27 | Xerox copy of letter sent by the 1stdefendant to the plaintiff. 20.11.2009 |
| 28 | Ex.D28 | Copy of the email from the plaintiff's office. -- |
| 29 | Ex.D29 | Circular No.78. 30.09.1997 |
| 30 | Ex.D30 | Circular No.86 and 87. 24.11.1997 |
| 31 | Ex.D31 | Circular No.123. 21.01.1999 |
| 32 | Ex.D32 | Xerox copy of letter sent by 4thdefendant to the plaintiff. 07.02.2011 |
| dsa | 05.03.2018 |
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R.SUBRAMANIAN, J.
dsa
C.S.No.41 of 2000
05.03.2018
R. Subramanian
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
