In connected suits concerning a joint venture agreement, the parties entered into a compromise agreement signed before the Court. The court decreed the suits in terms of the joint memo of compromise and closed connected applications.
The suits were decreed in terms of the Joint Memo of Compromise dated 26.06.2023.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
C.S.(Comm.Div.)No.35 of 2021 & Tr.C.S.No.29 of 2022
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 10.07.2023
CORAM
THE HONOURABLE Ms. JUSTICE P.T. ASHA
C.S.(Comm.Div).No.35 of 2021
and
Tr.C.S.No.29 of 2022 and A.Nos.2680 and 3178 of 2021
[C.S.(Comm.Div).No.35 of 2021]
M/s.Trinethra Housing Projects Pvt. Ltd., Rep. By its Director 2/30, Railway Colony 2nd Street, Nelson Manickam Road, Chennai -600029 ...Plaintiff
Vs.
1.V.Anjanaya Prasad [Deceased] [Amended as per order dated 14.012.2022 on memo in C.S.(Comm).No.35/2021]
2.V.Harish Prasad
3..Mrs.Parvathaneni Shalini Kumar (Since Deceased)
4.Mr. Parvathaneni Bhaskar Kumar
5.Sawan Kumar Parvathaneni ...Defendants
[3rd defendant impleaded as per order dated 28.09.2021 in A.No.3177/21]
[The 4th and 5th defendants are brought on record as LRs of the deceased 3rd defendant, as per the order in Appl.No.4469/2022 dt.27.10.2022]
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C.S.(Comm.Div.)No.35 of 2021 & Tr.C.S.No.29 of 2022
[Tr.C.S.No.29 of 2022]
2.V.Anjanaya Prasad 3.Mrs.Parvathaneni Shalini Kumar (Since Deceased)
4.V.Harish Prasad
5.Parvathaneni Bhaskar Kumar
6.Sawan Kumar Parvathaneni
...Plaintiffs
Vs.
M/s.Trinethra Housing Projects Pvt. Ltd., Rep. By its Director 2/30, Railway Colony 2nd Street, Nelson Manickam Road, Chennai -600029 ...Defendant
[Plaintiffs 2, 3 and 4 are impleaded as per order in A.No.3/2019 dated 19.01.2021]
[Plaintiffs 5 and 6 brought on record as Lrs of the deceased 3rd plaintiff as per the order dated 14.12.2022 in A.No.5310/2022]
PRAYER in C.S.(Comm.Div).No.35 of 2021 : Plaint is filed under Under Order IV Rule 1 of Rules of Original Side Rules, read with Order VII, Rule 1, C.P.C. praying for:-
a) Directing the defendants to pay sum of Rs.2,00,00,000/- towards the principal amount and Rs.3,78,00,000/- as accrued interest totaling Rs.5,78,00,000/- together with 18% interest per annum on the principal sum
of Rs.2,00,00,000/- from the date of the plaint till the date of realization.
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C.S.(Comm.Div.)No.35 of 2021 & Tr.C.S.No.29 of 2022
b) Directing the defendants to pay further sum of Rs.35,28,000/- paid
to the security agency from 01.01.2011 to 30.06.2021.
c) Directing the defendants to pay further sum of Rs.50,00,000/claimed towards mental agony, hardship and towads damages incurred by the plaintiff due to non performance of the defendants in honouring their
commitment as per Joint Venture Agreement dated 08.12.2010.
d) Costs of the suit;
e) Pass such further orders as this Hon'ble Court may deem fit and
proper in the circumstances of the case and thus render justice.
For Plaintiff : M/s.V.Srinivasa Babu
For Defendants : Mr.K.C.Ramamurthy [D2, D4 &. D5] D1 and D3 [died]
PRAYER in Tr.C.S.No.29 of 2022 : Plaint is filed under Under Order VII Rule 1 CPC and Order IV Rule 1 of Rules of the High Court, Madras Original Side 1956, praying for:-
a) for a declaration that the Joint Venture Agreement dated
08.12.2010 entered into between the Plaintiff and the Defendant stands
terminated due to the breach committed by the Defendant in not performing
the terms of the Joint Venture Agreement dated 08.12.2010.
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C.S.(Comm.Div.)No.35 of 2021 & Tr.C.S.No.29 of 2022
b) For the costs of the Suit;
c) and for such further or other reliefs as this Hon'ble Court may
deem fit and proper under the facts and circumstances of the case.
For Plaintiffs : Mr.K.C.Ramamurthy For Defendant : M/s.V.Srinivasa Babu
COMMON JUDGMENT
The plaintiff [in C.S.(Comm.Div).No.35 of 2021 and Defendant in
Tr.C.S.No.29 of 2022] and the defendants 2, 4 & 5 [in
C.S.(Comm.Div).No.35 of 2021 and Plaintiffs in Tr.C.S.No.29 of 2022]
have entered into a compromise which has been reduced into writing in a Joint Memo of Compromise dated 26.06.2023. Both the parties have appearned in person before this Court. The Joint Memo of Compromise is signed by the plaintiff and the defendants and also by their respective counsels. The said Joint Memo of Compromise dated 26.06.2023 is taken on file.
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C.S.(Comm.Div.)No.35 of 2021 & Tr.C.S.No.29 of 2022
Memo of Compromise dated 26.06.2023. The terms of Joint Memo of Compromise signed by the plaintiff and the defendants shall form part and parcel of this judgment and decree. Consequently, connected applications are closed. No Costs.
10.07.2023
Index : Yes/No Internet : Yes/No Neutral Citation : Yes/No shr
P.T. ASHA, J,
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C.S.(Comm.Div.)No.35 of 2021 & Tr.C.S.No.29 of 2022
shr
C.S.(Comm.Div).No.35 of 2021 and Tr.C.S.No.29 of 2022 and A.Nos.2680 and 3178 of 2021
10.07.2023
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M/s.Trinethra Housing Projects Pvt. Ltd.
V.Anjanaya Prasad
V.Harish Prasad
Mrs.Parvathaneni Shalini Kumar
Mr. Parvathaneni Bhaskar Kumar
Sawan Kumar Parvathaneni
P.T. ASHA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
