B. Vinayak Nilesh Vs Rakesh Harlalka

Tritex Private Limited Rep by its Director, Mr.Rakesh Harlalkha, Door No.6A, Triveni House Govindan Street, Ayyavoo Colony, Aminjikarai Chennai-600 029

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..Respondent(s)

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Prayer: Appeal filed under Section 13(1) of the Commercial Courts Act, 2015, to set aside the impugned judgement and decree dated 03.01.2025 passed by this Court in C.S.(Comm.Div) No.94/2021 and allow the appeal and thus render justice.

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For Appellant(s): Mr.Anupam Raghuraman For Respondent(s): Mr.M.Santhanaraman

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JUDGMENT

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(Judgment of the Court was made by Dr.Anita Sumanth J.)

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In light of memo dated 10.04.2025,which is extracted below, this OSA

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(CAD) and the connected Miscellaneous Petition are dismissed as withdrawn,

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as settled out of Court.

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MEMO FILED BY THE APPELLANTS

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The appellants above-named most respectfully submit as follows: 1. The present Original Side Appeal was filed challenging the

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Page2 of 4

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https://www.mhc.tn.gov.in/judis

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OSA(CAD) No. 42 of 2025

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Judgment and Decree dated 03.01.2025 passed in C.S.(Comm.Div.) No.94 of 2021.

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2. The underlying dispute relates to a redemption suit filed by the Appellants concerning a First Mortgage Deed dated 16.04.2012 executed for a loan of Rs.1.50 crores. The Appellants contended that they had paid a total sum of Rs.3,87,21,482/- and were entitled to a refund of excess payments amounting to Rs.1,91,67,279/- based on legal interest rates. Further, the Appellants challenged a Second Simple Mortgage Deed dated 13.03.2020 as being a sham and nominal document unsupported by consideration. The suit was dismissed by the Learned Single Judge on 03.01.2025, following which this appeal was preferred.

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3. During the pendency of the above Appeal, the Appellants and the Respondents have entered into an amicable settlement out of court, resolving all disputes and claims arising from the subject matter of the suit and the appeal.

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4. In view of the said settlement, the Appellants do not wish to press the present Appeal and seek the leave of this Hon’ble Court to withdraw the same as ‘Settled Out of Court.”

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5. The Appellants have paid a substantial Court Fee Memorandum of Appeal. Since the matter has been settled out of court between the parties, the Appellants are entitled to a refund of the Court Fee as per the relevant provisions of the Tamil Nadu Court Fees and Suits Valuation Act, 1955.

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It is therefore prayed that this Hon’ble Court may be pleased to: a) Record this Memo and permit the Appellants to withdraw O.S.A. (CAD) No.42 of 2025 as settled out of court; and

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b) Direct the Registry to refund the Court Fee paid on the Memorandum of appeal to the Appellants or their Counsel, and thus render justice

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Dated at Chennai on this the 10^th day of April, 2025.’

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