Madras High Court
P.Varada Reddy (Deceased) vs M/S.Accord Finance & Properties (Pvt.) ... on 20 April, 2022
Author: V.Bhavani Subbaroyan
Bench: V.Bhavani Subbaroyan
1
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated : 20.04.2022
CORAM:
THE HON`BLE MRS.JUSTICE V.BHAVANI SUBBAROYAN
C.S.No.716 of 2011
and A.Nos.3404 and 3114 of 2021
1.P.Varada Reddy (Deceased)
2.Mrs.Prashanthi Reddy
3.Shri.Dodla Sesha Reddy
Rep. by his Power Agent,
P.Varada Reddy, the 1st plaintiff herein
4.Shri.Dodla Sunil Reddy
Rep. by his Power Agent,
Mrs.Prashanthi Reddy, the 2nd plaintiff herein
5.Mrs.P.Sunitha Reddy
6.Smt.P.Shruti Reddy ...Plaintiffs
(plaintiffs 5 & 6 brought on record as LRs of the
deceased 1st plaintiff as per order dated 13.03.2018
in A.Nos.2180 & 2181 of 2018)
Vs.
1.M/s.Accord Finance & Properties (Pvt.) Ltd.,
Old No.51, New No.111, G.N.Chetty Road,
T.Nagar, Chennai – 600 017.
2.Mr.R.Ramakrishna
3.M/s.Besser Concrete Systems Ltd.,
No.1/208, Kaliamman Koil Street,
Kelambakkam, Kancheepuram District.
Pin code – 603 103.
4.Mr.Mohideen Sheikh Uduman
https://www.mhc.tn.gov.in/judis
5.Mr.Sheikh Mohammed ...Defendants
2
Prayer: Plaint filed under Order VII Rule 1 of CPC and Order IV Rule 1
of O.S.Rules, prays for a Decree and Judgment against:
a) the defendants 1 and 2, their men, agents, servants,
representatives, subordinates or anybody authorized by them or anyone
working under them for recovery of a sum of Rs.3,95,97,448.00 with
interest at the rate of 24% p.a., on the sum of Rs.1,83,32,328/- from the
date of plaint till date of realization
b) for damages of Rs.15,00,000/- against the defendants 1 to 2 for
doing various acts without disclosing the lease deed, deposit of title
deeds and selling the property to the plaintiffs and causing mental agony
and making to suffer financial loss to plaintiffs and thus render justice.
c) to grant costs of the suit; and
d) pass such further or other orders as this Court may deem fit and
proper in the circumstances of the case and thus render justice.
For Plaintiff s : Mr.P.Subba Reddy
For Defendants : Mr.R.Thiayagarajan for D1 & D2
Mr.John Zachariah for D3
for Fox Mandal & Associates
Mr.M.Devaraj for D4 & D5
https://www.mhc.tn.gov.in/judis
3
JUDGMENT
This suit was filed by the plaintiffs for the various reliefs: a) the defendants 1 and 2, their men, agents, servants, representatives, subordinates or anybody authorized by them or anyone working under them for recovery of a sum of Rs.3,95,97,448.00 with interest at the rate of 24% p.a., on the sum of Rs.1,83,32,328/- from the date of plaint till date of realization; b) for damages of Rs.15,00,000/- against the defendants 1 to 2 for doing various acts without disclosing the lease deed, deposit of title deeds and selling the property to the plaintiffs and causing mental agony and making to suffer financial loss to plaintiffs and thus render justice; c) to grant costs of the suit; and d) pass such further or other orders as this Court may deem fit and proper in the circumstances of the case and thus render justice.
2.The case of the plaintiff is that they filed a suit for recovery of a sum of Rs.1,83,38,328/- with interest due to the reason that the 1st defendant being the owner for the “A” schedule property, created mortgage by way of deposit of title deeds on 4.9.1995 before the 7th defendant herein having deposited the title deeds of the “A” schedule property measuring Ac.12.11 cents, comprised in Survey Nos.5, 6/1, 6/2, 7, 8, 9, 11/2, 117, 118, 119, 120, 121, 125/1, 122, 123, 124, 10 and https://www.mhc.tn.gov.in/judis 4 125/2, situated at Kelambakkam Village, Chengalpattu District, with all buildings and superstructures, executed various registered lease deeds in favour of the 3rd defendant commencing from 1.11.1995 to 31.10.2005 for a period of 10 years. In other words, even though the entire property measuring Ac.12.11 cents deposited by way of title deeds and created mortgage deed on 4.9.1995 in favour of the 1st defendant but still executed a registered lease deed and handed over possession of the “A” schedule property to the 3rd defendant by obtaining a lease amount from the 3rd defendant herein.
3.The plaintiffs submitted that the defendants 1 to 3 conveniently segregated the land of an extent of Ac.12.11 cents into two schedules i.e., “A” schedule measuring 12.11 cents (12.56 cents as per Patta No.125) and out of Ac.12.11 cents, an extent of 6.98 cents has been segregated in front of the property facing road side and these extent of Ac.6.98 cents executed sale deeds by the 1st defendant in favour of the plaintiffs 1 to 4 and defendants 4 to 6. Each sale Deed has been executed for 1/7th undivided right in the extent of Ac.6.98 cents. The rest of Ac.5.13 cens has been with the 1st defendant company and that also leased out to the 3rd defendant herein. The plaintiffs 1 to 4 and defendants 4 to 6 obtained sale deeds from the 1st defendant company by sale deed dated 16.8.1999 https://www.mhc.tn.gov.in/judis 5 in the form of undivided share in the entire extent of Ac.6.98 cents and the remaining land of Ac.5.13 cents lying with the 1st defendant company who executed lease agreement in favour of the 3rd defendant. When the property was leased out to the 3rd defendant by the 1st defendant on 7.11.1995, the entire property measuring Ac.12.11 cents has been leased out. Possession has been handed over to the 3rd defendant in respect of the entire extent of Ac.12.11 cents.
4.The plaintiffs further submitted that it is unfortunate to note that due to unlawful acts done by the defendants 1 and 2, the plaintiffs and the defendants 4 to 6 suffered to great extent. Finally, the plaintiffs received notice from 7th defendant bank about the recovery proceedings initiated by the 7th defendant before the Debts Recovery Tribunal-I, Chennai in O.A.No.622 of 2000. At this time only, realized that the property bought by the plaintiffs and the defendants 4 to 6 is subject to mortgage and also subject to lease to the 3rd defendant. When the plaintiffs bought the property it was a vacant land, not fortified by a compound wall which the 3rd defendant subsequently did it.
5.According to the plaintiffs, they were cheated and deceived by the defendants 1 and 2, they approached Debts Recovery Tribunal-I, https://www.mhc.tn.gov.in/judis 6 Chennai to stall the proceedings. But unfortunately, the Debts Recovery Tribunal-I, Chennai did not accept the proposal given by the plaintiffs and finally the plaintiffs have to settle the entire outstanding amount of the defendants 1 and 2 to the 7th defendant and paid Rs.1,83,32,238/- in the following manner by way of banker's cheque and demand draft viz., S.No. Banker's cheque No. & Drawn on Amount (Rs.) Date or Demand Draft 1 675393/8.11.2006 State Bank of India, 40,00,000.00 Ambattur Branch, Chennai 2 675394/8.11.2006 State Bank of India, 85,00,000.00 Ambattur Branch, Chennai 3 675252/20.10.2006 State Bank of India, 20,00,000.00 Ambattur Branch, Chennai 4 675253/20.10.2006 State Bank of India, 30,00,000.00 Ambattur Branch, Chennai 5 262564/5.12.2006 State Bank of India, 8,32,328.00 Ambattur Branch, Chennai Total Rs.1,83,32,328.00
6.The plaintiffs submitted that they are claiming the total amount in the following manner:
a) Principal amount Rs.1,83,32,328.00 Interest @ 24% p.a. from 13.11.2006 to 30.6.2011 interest has been calculated by way of simple Rs.2,12,65,120.00
b) interest without getting it compounded Damages suffered by the plaintiffs by dragging the plaintiffs to Hon'ble Debts Recovery Tribunal Hon'ble Debts Recovery Appellate Tribunal
c) Hon'ble High Court, Madras Rs.15,00,000.00 Hon'ble Supreme Court of India and also mental agony by spending money towards legal expenses and other miscellaneous expenses to Supreme Court and other Hon'ble Courts Total Rs.4,10,97,448.00 https://www.mhc.tn.gov.in/judis 7
7.Heard Mr.P.Subba Reddy, learned counsel appearing for the plaintiffs, Mr.R.Thiayagarajan, learned counsel appearing for the defendants 1 and 2, Mr.John Zachariah, learned counsel appearing for the third defendant and Mr.M.Devaraj, learned counsel appearing for the defendants 4 and 5.
8.After negotiation, the parties have entered into a Joint Memorandum of Compromise, which reads as follows:
This Memorandum of Compromise Agreement is made on the 19th day of April, 2022 (“Execution Date”) between:
(1)Mrs.PRASANTHI REDDY, (PAN:AGHPP5769N, Aadhar No.6498 5189 9344), W/o.Mr.Pradyuma Reddy, Hindu, aged about 57 years, residing at No.20, Rutland Gate 4th Street, Nungambakkam, Chennai - 600 034, hereinafter referred to as the “PARTY OF THE FIRST PART” (2)Mr.MOHIDEEN SHEIK UDUMAN, (PAN:AHAPM9199F, Aadhar No.6964 7059 5043) S/o. Mr.Sheik Mohamed, aged about 50 years, residing at Old No.58/2, New No.63, Second Cross Street, CIT Nagar (East), Chennai - 600 035, hereinafter referred to as the “PARTY OF THE SECOND PART” (3)Mrs.SMITHA R ARONS @ SMITHA REDDY, (PAN:CREPA5283L) W/o.SriMichal Arons, D/o.Late.P.Varda https://www.mhc.tn.gov.in/judis Reddy, aged about 44 years, residing at 2245 Fort Stockton 8 Drive, San Diego, CA 92103, USA, hereinafter referred to as the “PARTY OF THE THIRD PART” (4)Mrs.SHRUTI REDDY (PAN:CFLPS3047H), W/o.LeoBrune, D/o.P.VaradaReddy, Hindu, aged about 34 years, residing at, 1040 4th Ave Sacramento CA 95818, USA, hereinafter referred to as the “PARTY OF THE FOURTH PART” (5)Mr.SHEIK MOHAMED (PAN:GOVPS7829A, Aadhar No.2459 7158 1604), S/o.Mr.Uduman Maraikayar, Muslim, aged about 80 years, residing at Old No.58/2, New No.63, Second Cross Street, CIT Nagar (East), Chennai – 600 035, hereinafter referred to as the “PARTY OF THE FIFTH PART” (6)Mr.DODLA SUNIL REDDY (Aadhar No.8809 0825 9716), S/o.Mr.DodlaSesha Reddy, Hindu, aged about 52 years, residing at No.10, Wallac Garden, 1st Street, Nungambakkam, Chennai – 600 034, hereinafter referred to as the “PARTY OF THE SIXTH PART” (7)Mr.DODLA SESHA REDDY (PAN:AAZPD4182D, Aadhar No.4830 9309 2872), S/o.Late.Chenchu Rama Reddy, aged about 76 years, residing at No.2, Bishop Wallace Avenue West, Mylapore H.O. Chennai – 600 004, hereinafter referred to as the “PARTY OF THE SEVENTH PART” https://www.mhc.tn.gov.in/judis 9 (8)Mrs.P.SUGANTHI (PAN:ALBPP8055A, Aadhar No.9430 5596 6196), W/o.Mr.R.S.Anhamuthu, aged about 60 years, residing at F-12, First Floor, A-Block, 96, Sayani Complex, Konnur High Road, Ayanavaram, Chennai - 600 023, hereinafter referred to as the “PARTY OF THE EIGHTH PART” The above parties 1 to 8 are together represented by their Power Agent Mr.SYED JAFFAR, (PAN:CIQPS7512B, Aadhar No.2816 0038 7495), S/o.Syed Ghouse, aged about 39 years, presently residing at No.24A, Pillaiyarkulam, Chengalpattu, Kancheepuram, Tamil Nadu – 603 001 by virtue of the Power of Attorneys bearing:
a.Document No.4649/2022 dated 08.03.2022 executed by the PARTY OF THE FIRST PART b.Document No.18547/2021 dated 28.10.2021 executed by the PARTY OF THE SECOND PART c.Adjudication No.5/2022 dated 29.11.2021 executed by the PARTY OF THE THIRD PART d.Adjudication No.4/2022 dated 08.12.2021 executed by the PARTY OF THE FOURTH PART e.Document No.18538/2021 dated 28.10.2021 executed by the PARTY OF THE FIFTH PART f.Document No.4648/2022 dated 08.03.2022 executed by the PARTY OF THE SIXTH PART g.Document No.19695/2021 dated 19.11.2021 executed by the PARTY OF THE SEVENTH PART and https://www.mhc.tn.gov.in/judis 10 h.Document No.18743/2021 dated 28.10.2021 executed by the PARTY OF THE EIGHTH PART in favour of their Power Agent Mr.Syed Jaffar and registered in the Books of SRO Thiruporur.
(9)M/s.BESSER CONCRETE SYSTEMS LIMITED, (formerly called M/s.Vibrant Besser Concrete Systems Ltd), a company incorporated under the provisions of Companies Act, 1956 having CIN:U51909TN1995PLC030534, having its registered office at No.1/208, KeliammanKoil Street, Kelambakkam, Chengalpet District – 603 103, represented by its Authorized Signatory Mr.VINOD GURBUX MOTWANI, Hindu, aged about 61 years, residing at H&M Towers, 2nd floor, 29th Road, Bandra (West), Mumbai – 400 050 (authorized vide Board Resolution dated 18.04.22), hereinafter referred to as the”PARTY OF THE NINTH PART” (10)M/s.ACCORD FINANCE AND PROPERTIES PRIVATE LIMITED, a company incorporated under the provisions of Companies Act, 1956 having CIN:U65192TN1994PTC0 29188, having its registered office at No.111 (Old No.51), G.N.Chetty Road, T.Nagar Chennai – 600 017 and represented by its Director Sujaianand. D, Hindu, aged 48 years, residing at Old No.4, New No.14, 10th Street Nandanam Extension, Chennai – 600 035 (authorized vide Board Resolution dated 13.04.22, hereinafter referred to as https://www.mhc.tn.gov.in/judis the “PARTY OF THE TENTH PART” 11 (11)Mrs.PADMA RAMAKRISHNA (PAN:AHZPP9130G), W/o.Late.Ramakrishna Ramanathan, aged 66 years, residing at B8, Atandra, 25 Thirumalai Road, T.Nagar, Chennai – 600 017, represented by her Power of Attorney Agent Mr.Ratan Biharilal Dulani (PAN:AADPD0124F), S/o.Biharilal Teckchand Dulani, Hindu, aged 51 years, having office at, B-
176 Kalpataru Habitat CHS, Dr.S.S.Rao Road, Parel Mumbai – 400 012, Maharashtra by virtue the Power of Attorney dated 01.04.2022 executed at USA, hereinafter referred to as the “PARTY OF THE ELEVENTH PART” (12)Mrs.DEEPA RAMSINGHANI (PAN:AADPD0124F), W/o.Mahendra Ramsinghani, D/o.Late.Ramakrishna Ramanathan aged 46 years, No.2249, Broderick Street, San Francisco, CA 94117,and having permanent address at Flat No.B8, Atandra, No.25, Thirumalai Road, T.Nagar, Chennai – 600 017, represented by her Power Agent, Mr.Ratan Biharilal Dulani, aged about 51 years, and having office at B-176, Kalpataru Habitat CHS, Dr.S S Rao Road, Parel Mumbai – 400 012 Maharashtra India, by virtue the Power of Attorney dated 01.04.2022 executed at USA, hereinafter referred to as the “PARTY OF THE TWELFTH PART” (13)M/s.CENTWIN HOUSING PRIVATE LIMITED (PAN:
AADCC1989Q), having its registered office at No.4,10th Street, Nandanam Extension, Nandanam, Chennai – 600 035, represented by its Director Mrs.D.Sailaja, W/o.Mr.D.Ranga https://www.mhc.tn.gov.in/judis Reddy (PAN:AAKPS5124P), Hindu, aged about 64 years, 12 residing at No.14, 10th Street, Nandanam Extension, Nandanam, Chennai – 600 035 (authorized vide Board Resolution dated 13.04.22 hereinafter referred to as the “PARTY OF THE THIRTEENTH PART” The terms, the PARTY OF THE FIRST PART, the PARTY OF THE SECOND PART, the PARTY OF THE THIRD PART, the PARTY OF THE FOURTH PART, the PARTY OF THE FIFTH PART, the PARTY OF THE SIXTH PART, the PARTY OF THE SEVENTH PART, the PARTY OF THE EIGHTH PART, the PARTY OF THE NINTH PART, the PARTY OF THE TENTH PART, the PARTY OF THE ELEVENTH PART, the PARTY OF THE TWELFTH PART and the PARTY OF THE THIRTEENTH PART, which expression shall, unless excluded by or repugnant to the context, be deemed to include their heirs, successors, assigns, transferees, nominees, executors, administrators and beneficiaries.
WHEREAS:
(1)The PARTY OF THE TENTH PART purchased the property more fully described in the Schedule A hereunder (hereinafter referred to as Schedule A property) from Mrs.Sujatha Kesavan vide Sale Deed dated 27.07.1995 registered as Document No.2020 of 1995 at SRO Thiruporur.
(2)The PARTY OF THE ELEVENTH PART and her husband namely, R.Ramakrishna were holding 75% of shares in the https://www.mhc.tn.gov.in/judis PARTY OF THE TENTH PART company. Subsequently, 13 R.Ramakrishna died intestate on 28.05.2020 leaving behind his wife, Mrs.Padma Ramakrishna (PARTY OF THE ELEVENTH PART) and daughter, Mrs.Deepa Ramsinghani (PARTY OF THE TWELFTH PART) as his surviving legal heirs. Thereafter, PARTY OF THE TWELFTH PART relinquished her entire right, interest, and claim in the estate of Late.R.Ramakrishna in favour of her mother, Mrs.Padma Ramakrishna (PARTY OF THE ELEVENTH PART). In pursuance to the same, R.Ramakrishna's shares in the company was transmitted to PARTY OF THE ELEVENTH PART and PARTY OF THE ELEVENTH PART currently holds 75% of the shares in the PARTY OF THE TENTH PART company.
(3)The PARTY OF THE TENTH PART has deposited the title deeds of Schedule A property as security for the loan taken by one M/s.Vibrant Investments and Properties Limited in favour of Madura which later merged/amalgamated with ICICI Bank Ltd.
(4)When the above said charge with ICICI Bank Ltd was subsisting over the Schedule A property, the PARTY OF THE NINTH PART has entered into a sale agreement dated 10.10.1997 with the PARTY OF THE TENTH PART for the purchase of entire schedule A property and the PARTY OF THE NINTH PART had also paid the entire sale consideration of Rs.2,00,00,000/- (Rupees two crores only) to https://www.mhc.tn.gov.in/judis the PARTY OF THE TENTH PART. The PARTY OF THE 14 NINTH PART is claiming that by the virtue of this sale agreement, the possession of Schedule A property was handed over to the PARTY OF THE NINTH PART.
(5)The PARTY OF THE NINTH PART has also entered into six lease agreements with the PARTY OF THE TENTH PART all registered at SRO Thiruporur vide Doc.Nos.3094 of 1995, 3095 of 1995, 3096 of 1995, 3097 of 1995, 3098 of 1995 and 3099 of 1995 in respect of the property measuring about 4.67 acres or thereabouts, comprised in Survey Nos:6/1, 6/2, 7, 8, 9, 10, 11/2 part, which forms part of Schedule A property.
(6) When the above said charge with ICICI Bank Ltd was subsisting over the Schedule A property, the PARTY OF THE TENTH PART has sold a portion of the Schedule A property measuring about 6.98 acres which is morefully described in the Schedule B hereunder (hereinafter referred to as Schedule B property) as detailed below by executing 7(seven) sale deeds all dated 16.08.1999 registered with the SRO, Thiruporur.
a) 1/7th undivided share in Schedule B property in favour of the PARTY OF THE FIRST PART vide sale deed registered as Doc.No.1574 of 1999
b) 1/7th undivided share in Schedule B property in favour of the PARTY OF THE SECOND PART vide sale deed registered as Doc.No.1575 of 1999
c)1/7th undivided share in Schedule B property in https://www.mhc.tn.gov.in/judis favour of one P.Varadha Reddy who is the father of the 15 PARTY OF THE THIRD PART and the PARTY OF THE FOURTH PART vide sale deed registered as Doc.No.1576 of 1999
d)1/7th undivided share in Schedule B property in favour of the PARTY OF THE FIFTH PART vide sale deed registered as Doc.No.1577 of 1999
e) 1/7th undivided share in Schedule B property in favour of the PARTY OF THE SIXTH PART vide sale deed registered as Doc.No.1578 of 1999
f)1/7th undivided share in Schedule B property in favour of the PARTY OF THE SEVENTH PART vide sale deed registered as Doc.No.1579 of 1999
g)1/7th undivided share in Schedule B property in favour of the PARTY OF THE EIGHTH PART vide sale deed registered as Doc.No.1580 of 1999 (7)Subsequently, recovery proceedings were initiated by ICICI Bank Ltd for recovery of the loan taken by M/s.Vibrant Investments and Properties Limited and the Schedule A Property got entangled with the recovery proceedings. The PARTY OF THE FIRST PART and P.Varada Reddy, the father of PARTY OF THE THIRD PART and the PARTY OF THE FOURTH PART settled the dues payable to ICICI Bank Ltd and cleared the charge over the Schedule A property.
(8) During the course of above transactions, various disputes arose between the parties with regard to the transactions, due https://www.mhc.tn.gov.in/judis to which several cases / suits and connected applications 16 came to be filed against each other as detailed in Annexure-1. The parties have also filed their Written Statements, Affidavits, Counters etc., in the said cases / suits.
(9) Meantime, the above said P.Varada Reddy died intestate on 20.09.2017 in USA leaving behind the PARTY OF THE THIRD PART & the PARTY OF THE FOURTH PART as his sole legal heirs who have inherited the 1/7th undivided share in the Schedule B property owned by Late.P.Varada Reddy.
(10) During the pendency of the said cases / suits, by the intervention of well-wishers, the parties 1 to 11 held discussions to amicably settle the disputes among themselves as a result of which, the parties 1 to 11 have mutually agreed that
a) The Schedule B property shall be sold by the PARTIES of the FIRST to EIGHTH PART to the PARTY OF THE THIRTEENTH PART and the possession of the same shall be handed over by the PARTY OF THE NINTH PART to the PARTY OF THE THIRTEENTH PART on such terms and conditions as more fully detailed in this Deed of Memorandum of Compromise Agreement.
b) The balance portion of the Schedule A mentioned property which is more fully described in the Schedule C hereunder shall remain with the PARTY OF THE TENTH PART and the PARTY OF THE TENTH PART shall https://www.mhc.tn.gov.in/judis absolutely own the same without any claim from the parties 1 17 to 9 herein. The PARTY OF THE NINTH PART shall handover the possession of the Schedule C property to the PARTY OF THE TENTH PART and relinquish its rights and interests over the Schedule C property in favour of the PARTY OF THE TENTH PART.
c)The shares held by the PARTY OF THE ELEVENTH PART in the PARTY OF THE TENTH PART company shall be sold to the PARTY OF THE THIRTEENTH PART on such terms and conditions as more fully detailed in this deed of Memorandum of Agreement. The remaining 25% of shares in the PARTY OF THE TENTH PART Company were already purchased by the party of the PARTY OF THE THIRTEENTH PART from other shareholders on 30.03.22.
NOW THEREFORE THIS MEMORANDUM OF COMPROMISE AGREEMENT WITNESSETH THAT:
1.The PARTY OF THE THIRTEENTH PART shall purchase the Schedule B property for a consideration which has been / shall be paid as detailed hereunder to the PARTIES OF THE FIRST PART to NINTH PART herein.
a) An amount of Rs.1,75,00,000/- (Rupees one crore seventy five lakhs only) to the PARTY OF THE FIRST PART in the following manner:
Date Mode of payment Amount (Rs.) TDS (Rs.) 28.10.2021 RTGS bearing UTR No.ICICR42021102800513 Rs.1,00,00,000/- Rs1,75,000/- https://www.mhc.tn.gov.in/judis 775 vide Challan No.10776 18 Date Mode of payment Amount (Rs.) TDS (Rs.) 28.10.2021 NEFT bearing INF Rs.50,00,000/- dated No.02533080271 31.12.2021 28.10.2021 RTGS bearing UTR No:ICICR42021102800514 Rs.20,00,000/-392
29.11.2021 Cheque No:000478 Rs.2,25,000/- 29.11.2021 Cheque No:000479 Rs.1,00,000/-
The receipt of which has been acknowledged by the PARTY OF THE FIRST PART
b)An amount of Rs.1,65,00,000/- (Rupees one crore sixty five lakhs only) to the PARTY OF THE SECOND PART in the following manner:
Date Mode of payment Amount (Rs.) TDS (Rs.) Rs.1,65,000/-
vide Challan 01.09.2021 Demand Draft No.652877 Rs.1,63,35,000/- No.06035 dated 30.11.2021 The receipt of which has been acknowledged by the PARTY OF THE SECOND PART.
c) An amount of Rs.87,50,000/- (Rupees eighty seven lakhs and fifty thousand only) to the PARTY OF THE THIRD PART in the following manner:
Date Mode of payment Amount (Rs.) TDS (Rs.) 16.11.2021 RTGS vide reference number Rs.66,57,000/- Rs.20,93,000/-
ICICR52021111600341709 https://www.mhc.tn.gov.in/judis 19 The receipt of which has been acknowledged by the PARTY OF THE THIRD PART.
d) An amount of Rs.87,50,000/- (Rupees Eighty Seven Lakhs Fifty Thousand only) to the PARTY OF THE FOURTH PART in the following manner:
Date Mode of payment Amount (Rs.) TDS (Rs.) 16.11.2021 RTGS vide reference number Rs.66,57,000/- Rs.20,93,000/-
ICICR52021111600341941 The receipt of which has been acknowledged by the PARTY OF THE FOURTH PART.
e)An amount of Rs.1,65,00,000/- (Rupees One Crore Sixty Five lakhs only) to the PARTY OF THE FIFTH PART in the following manner:
Date Mode of payment Amount (Rs.) TDS (Rs.) 01.09.2021 Demand Draft No.652878 Rs.1,63,35,000/- Rs.1,65,000/-
The receipt of which has been acknowledged by the PARTY OF THE FIFTH PART.
f) An amount of Rs.1,75,00,000/- (Rupees One Crore Seventy Five Lakhs only) paid to Prashanthi Reddy (Party of the First Part), at the instance and request of the PARTY OF THE SIXTH PART in the following manner:
https://www.mhc.tn.gov.in/judis 20 Date Mode of payment Amount (Rs.) TDS (Rs.) 31.08.2021 RTGS bearing UTR Rs.99,00,000/-
No:52021083100222782 RTGS bearing UTR Rs.50,00,000/- Rs.1,75,000/-, 28.10.2021 No:42021102800513907 vide Challan No.09757 28.10.2021 RTGS bearing UTR Rs.20,00,000/- dated No:42021102800514288 31.12.2021 29.11.2021 Cheque No:000476 Rs.4,25,000/-
The receipt of which has been acknowledged by the PARTY OF THE SIXTH PART
(g) An amount of Rs.1,75,00,000/- (Rupees One Crore Seventy Five Lakhs only) paid to Party of the Third Part and Party of the Fourth Part on instruction from the to the PARTY OF THE SEVENTH PART in the following manner:
Date Mode of payment Amount (Rs.) TDS (Rs.) RTGS vide reference 16.11.2021 number Rs.66,57,000/- Rs.20,93,000/-
ICICR52021111600342251 to Mrs.Smitha R Arons RTGS vide reference 16.11.2021 number Rs.66,57,000/- Rs.20,93,000/-
ICICR52021111600341371 to Mrs.Shruthi Reddy The receipt of which has been acknowledged by the party of the seventh part
h) An amount of Rs.1,65,00,000/- (Rupees One Crore Sixty-Five lakhs only) to the PARTY OF THE EIGHTH PART in the following manner:
https://www.mhc.tn.gov.in/judis 21 Date Mode of payment Amount (Rs.) TDS (Rs.) 30.10.2021 Demand Draft Rs.1,60,65,000/-
No.528806 30.10.2021 Cheque No:000330 Rs.96,000/- Rs.1,65,000/- 30.10.2021 Cheque No:000465 Rs.1,74,000/-
(i) An amount of Rs.10,15,00,000/- (Rupees Ten Crore and Fifteen Lakhs only) to the PARTY OF THE NINTH PART as full and final consideration towards relinquishment of their rights and interest in the Schedule B property and handing over the possession of the Schedule B property to the PARTY OF THE THIRTEENTH PART in the following manner:-
Date Mode of payment Amount (Rs.) TDS (Rs.) RTGS Reference UTR 09.08.2021 No.ICICR52021080900 594114, ICICI Bank, Rs.1,98,00,000/- Cenotaph Road Branch 21.09.2021 RTGS Reference UTR Rs.1,48,50,000/-
No.ICICR52021092100 687890, ICICI Bank, Cenotaph Road Branch 16.10.2021 RTGS Reference UTR Rs.148,50,000/-
No.ICICR42021101600 Rs.10,15,000/- 512644, ICICI Bank, Cenotaph Road Branch 28.01.2022 RTGS Reference UTR Rs.1,98,00,000/-
No.ICICR42022012800 510623, ICICI Bank, Cenotaph Road Branch 25.02.2022 RTGS Reference UTR Rs.148,50,000/-
No.ICICR42022022500 507272/IDFB0040102, ICICI Bank, Cenotaph Road Branch https://www.mhc.tn.gov.in/judis 25.03.2022 RTGS Reference UTR Rs.49,50,000/-
22Date Mode of payment Amount (Rs.) TDS (Rs.) No.ICICR52022032500 633967, ICICI Bank, Cenotaph Road Branch 25.03.2022 RTGS Reference UTR Rs.49,50,000/-
No.ICICR52022032500 640066, ICICI Bank, Cenotaph Road Branch 25.03.2022 RTGS Reference UTR Rs.49,50,000/-
No.ICICR52022032500 641244, ICICI Bank, Cenotaph Road Branch 13.04.2022 RTGS Reference UTR Rs.14,85,000/-
No.ICICR42022041300 504362, ICICI Bank, Cenotaph Road Branch
(j) An amount of Rs.7,85,00,000/- (Rupees Seven crores and eighty five lakhs only) paid by the PARTY OF THE TENTH PART to the PARTY OF THE NINTH PART by raising loans from the PARTY OF THE THIRTEENTH PART for the relinquishment of rights and interests of the PARTY OF THE NINTH PART in the Schedule C property and handing over of possession of the Schedule C property to the PARTY OF THE TENTH PART in the following manner:
Date Mode of payment Amount (Rs.) TDS (Rs.) 19.04.2022 RTGS Reference UTR No.ICICR42022041900 531039, ICICI Bank, Rs.4,00,00,000/- Cenotaph Road Branch Rs.7,85,000/- 19.04.2022 Cheque No:000744, Rs.2,00,00,000/-
ICICI Bank, Cenotaph Road Branch 19.04.2022 Cheque No:000745, Rs.1,77,15,000/-
ICICI Bank, Cenotaph Road Branch https://www.mhc.tn.gov.in/judis 23
(k) The 75% shares held by the PARTY OF THE ELEVENTH PART in the PARTY OF THE TENTH PART company shall be sold to the PARTY OF THE THIRTEENTH PART and in consideration of the same, an amount of Rs.7,50,00,000/- (Seven crores fifty lakhs only) has been / shall be paid to the PARTY OF THE ELEVENTH PART as per the terms of the share purchase agreement dated 19.04.22 entered into between the PARTY OF THE ELEVENTH PART and the PARTY OF THE THIRTEENTH PART, a copy of which is annexed herewith as Annexure II to this Agreement and the same shall form part and parcel of this Memorandum of Compromise Agreement.
2.The PARTIES OF THE FIRST PART to NINTH PART in consideration of the amount received by them from the PARTY OF THE THIRTEENTH PART as detailed in clause 1 above shall handover the possession of the Schedule B property to the PARTY OF THE THIRTEENTH PART. The PARTY OF THE NINTH PART in consideration of the amount received by them from the PARTY OF THE TENTH PART as detailed in clause 1(j) above shall relinquish all its rights and interests over the Schedule C property in favour of the PARTY OF THE TENTH PART and handover the possession of the Schedule C property to the PARTY OF THE TENTH PART.
3.The PARTIES OF THE FIRST to EIGHHTH PART shall https://www.mhc.tn.gov.in/judis sell / convey the Schedule B property in favour of the PARTY 24 OF THE THIRTEENTH PART and the PARTY OF THE NINTH PART shall convey all its rights and possession of the Schedule B in favour of the PARTY OF THE THIRTEENTH PART, for which purpose the PARTIES OF THE FIRST to EIGHTH PART have executed the following Powers of Attorneys (PoA) in favour of the nominee of the PARTY OF THE THIRTEENTH PART namely one Mr.SYED JAFFAR, a.The PARTY OF THE FIRST PART has executed PoA registered as Doc.No.4649 of 2022 at SRO Thiruporur.
b.The PARTY OF THE SECOND PART has executed PoA registered as Doc.No.18547 of 2021 at SRO Thiruporur.
c.The PARTY OF THE THIRD PART has executed PoA adjudicated as Doc.No.5 of 2022 at SRO Thiruporur.
d.The PARTY OF THE FOURTH PART has executed PoA adjudicated as Doc.No.4 of 2022 at SRO Thiruporur.
e.The PARTY OF THE FIFTH PART has executed PoA registered as Doc.No.18538 of 2021 at SRO Thiruporur.
f.The PARTY OF THE SIXTH PART has executed PoA registered as Doc.No.4648 of 2022 at SRO Thiruporur.
g.The PARTY OF THE SEVENTH PART has executed PoA registered as Doc.No.19695 of 2021 at SRO Thiruporur.
h.The PARTY OF THE EIGHTH PART has executed PoA registered as Doc.No.18743 of 2021 at SRO Thiruporur.
4.The above said Powers of Attorney are irrevocable and the same shall not be revoked by the PARTIES OF THE FIRST to EIGHTH PART under any circumstances. The powers https://www.mhc.tn.gov.in/judis granted under the said Powers of Attorney can be exercised 25 at the discretion of the PARTY OF THE THIRTEENTH PART without giving any notice / intimation of the PARTIES OF THE FIRST to EIGHTH PART. The PARTIES OF THE FIRST to EIGHTH PART shall produce life certificate as and when required by the PARTY OF THE THIRTEENTH PART for the purpose of registration of sale deed or any other document using the Powers of Attorneys listed above. In case of demise of any of the parties, the remaining parties and the legal heirs, successors-in-title, administrators and assigns of deceased party shall remain bound to reconstitute the said power of attorney in favour of the PARTY OF THE THIRTEENTH PART of its nominees with such powers as per their directions.
5.The PARTIES OF THE FIRST to TWELFTH PART have handed over all the original title deeds pertaining to the Schedule A property and all the documents related to the cases filed by / against them to the PARTY OF THE THIRTEENTH PART and further assure to furnish all the necessary documents required by the PARTY OF THE THIRTEENTH PART in future.
6.The PARTIES OF THE FIRST to NINTH PART agree to come forward to / shall execute all the documents required by the PARTY OF THE THIRTEENTH PART, to perfect the title of the Schedule B property in favour of the PARTY OF THE THIRTEENTH PART as and when required in future. The https://www.mhc.tn.gov.in/judis PARTY OF THE NINTH PART agrees to come forward to / 26 shall execute all the documents required by the PARTY OF THE TENTH PART, to perfect the title of the Schedule C property in favour of the PARTY OF THE TENTH PART as and when required in future.
7.The PARTY OF THE NINTH PART have given up all their claims against the PARTIES OF THE FIRST to EIGHTH PART, the PARTY OF THE TENTH PART, the PARTY OF THE ELEVENTH PART, the PARTY OF THE TWELFTH PART, R.Ramkrishna (Husband and father of the PARTY OF THE ELEVENTH & TWELFTH PART respectively) and against the Schedule A property and the PARTY OF THE NINTH PART shall withdraw all the pending cases and complaints filed against them.
8.The PARTY OF THE FIRST PART, the PARTY OF THE THIRD PART, the PARTY OF THE FOURTH PART, the PARTY OF THE SIXTH PART and the PARTY OF THE SEVENTH PART have given up all their claims against the PARTY OF THE SECOND PART, the PARTY OF THE FIFTH PART, the PARTY OF THE EIGHTH PART, the PARTY OF THE NINTH PART, the PARTY OF THE TENTH PART, the PARTY OF THE ELEVENTH and TWELFTH PART, R.Ramkrishna (Husband and father of the PARTY OF THE ELEVENTH & TWELFTH PART respectively) and ICICI Bank and they jointly agree and undertake that they shall withdraw all the pending cases and complaints filed https://www.mhc.tn.gov.in/judis against each other.
279.The PARTY OF THE SECOND PART, the PARTY OF THE FIFTH PART and the PARTY OF THE EIGHTH PART have given up all their claims against the PARTY OF THE NINTH PART, the PARTY OF THE TENTH PART, the PARTY OF THE ELEVENTH PART, the PARTY OF THE TWELFTH PART, R.Ramkrishna (Husband and father of the PARTY OF THE ELEVENTH & TWELFTH PART respectively) and ICICI Bank and they shall withdraw all the pending cases and complaints filed against each other.
10.The PARTY OF THE FIRST PART, the PARTY OF THE TENTH PART, the PARTY OF THE SIXTH PART and the PARTY OF THE SEVENTH PART shall give up all their claims and shall compromise all the pending suits including C.S.No.716 of 2011 on the file of the High Court of Judicature at Madras.
11.The PARTY OF THE NINTH PART and the PARTY OF THE TENTH PART shall execute a Deed of cancellation, terminating the Agreement to sell dated October 10, 1997. Further, both the parties shall execute and register a Deed of cancellation for cancelling the six lease agreements executed vide Doc.Nos.3094 of 1995, 3095 of 1995, 3096 of 1995, 3097 of 1995, 3098 of 1995 and 3099 of 1995.
12.The PARTY OF THE NINTH PART shall execute an irrevocable Power of Attorney in favour of the nominee of the https://www.mhc.tn.gov.in/judis PARTY OF THE THIRTEENTH PART/PARTY OF THE 28 TENTH PART namely Mr.SYED JAFFAR or any other person duly appointed by the PARTY OF THE THIRTEENTH PART/PARTY OF TENTH PART with respect to the Schedule B/C property upon the receipt of the entire consideration from the PARTY OF THE THIRTEENTH/TENTH PART. Since the PARTY OF THE NINTH PART is transferring its entire rights in respect of the entire Schedule A (B/C) property and is executing an irrevocable power of attorney in favour of the PARTY OF THE THIRTEENTH PART/TENTH PART, the PARTY OF THE THIRTEENTH PART/TENTH PART hereby indemnifies and agrees to indemnify, save, defend and hold harmless the PARTY OF THE NINTH PART against all claims, demands, losses, damages, costs, charges and expenses (including all legal costs and expenses), penalties, fines, charges, levied by any person/s and/or any concerned authority or party, which may be taken, brought or made against or which may be suffered or incurred by the PARTY OF THE NINTH PART, their respective successors and assigns and all person/s claiming by from through under in trust for the PARTY OF THE NINTH PART arising out of, or by reason of, or incidental to and/or as a consequence of entering into this Memorandum of Agreement, transferring rights in the Schedule A (B/C) property, and the use of Power of Attorney issued by the PARTY OF THE NINTH PART to the PARTY OF THE THIRTEENTH PART/TENTH PART.
13.The PARTIES OF THE FIRST PART to NINTH PART https://www.mhc.tn.gov.in/judis undertake that they shall not at any time after the execution of 29 this deed of Memorandum of Agreement, create or set-up any encumbrance / charge or third-party rights / claims or indulge in any act or omission to the possession or title with respect to the Schedule A property.
14.The PARTIES OF the ELEVENTH and TWELFTH PART (legal heirs of Late R.Ramakrishna) have no rights, title, interest, and claim over the Schedule “A” property. They shall not make any claims against other parties herein and shall execute all necessary documents (if required) to perfect the title of the PARTIES OF THE TENTH AND THIRTEENTH PART over the Schedule B and C property and to withdraw all the pending cases/suits.
15.The PARTY OF THE TENTH PART undertakes that they shall not sell, transfer, create or set-up any encumbrance / charge or third-party rights / claims or indulge in any act or omission to the possession or title with respect to the Schedule C property without the prior written consent of the PARTY OF THE THIRTEENTH PART.
16.In respect of the PARTY OF THE NINTH PART's company, all corporate compliances including filings with the Registrar of Companies shall be completed by the PARTY OF THE NINTH PART at their own costs.
17.In respect of the transfer of the shares of the PARTY OF https://www.mhc.tn.gov.in/judis THE TENTH PART's company in favour of the PARTY OF 30 THE THIRTEENTH PART, all corporate compliances including filings with the Registrar of Companies shall be completed by the PARTY OF THE ELEVENTH PART at her own costs and she shall ensure that, no strike off, winding up or insolvency proceedings are initiated against the PARTY OF THE TENTH PART company.
18.The tax liabilities and other statutory dues in respect of the consideration received by the PARTIES OF THE FIRST part to TWELFTH PART shall be settled by the respective parties. The PARTY OF THE THIRTEENTH PART is no way responsible for such liabilities.
19.The PARTY OF THE THIRTEENTH PART agrees that all stamp duty and registration fee in respect of execution of any documents pertaining to Schedule A property or sale of shares held by the PARTIES OF THE ELEVENTH PART in the PARTY OF THE TENTH PART's company in favour of the PARTY OF THE THIRTEENTH PART or their nominees shall be borne by the PARTY OF THE THIRTEENTH PART.
20.The PARTIES OF THE FIRST PART to THIRTEENTH PART agree to do all such acts and deeds, execute such other or further documentation as may be required to discharge the respective obligations agreed herein.
21.The PARTIES OF THE FIRST PART to TWELFTH PART https://www.mhc.tn.gov.in/judis hereby assure that this agreement constitutes the full and 31 final settlement and they have no claim/hold against each other whatsoever and the parties shall immediately withdraw all the cases/complaints already filed and they shall not initiate any fresh/further proceedings against each other and with respect to the Schedule A mentioned property, or any other matters pertaining to the Schedule of properties described hereunder. This Memorandum of Compromise Agreement settles all claims by and between the PARTIES OF THE FIRST part to the TWELFTH PART and no further claims of any kind shall be initiated/entertained legally or otherwise.
22.The PARTIES OF THE FIRST PART to TWELFTH PART all parties hereby irrevocably and unconditionally, jointly and severally, guarantee to each other and their successors, executors and assigns that the payment has been received as a full and final settlement towards any claims against each other. The PARTIES OF THE FIRST part to TWELFTH PART indemnify and release each other and their heirs, successors, representatives of any claims whatsoever including future claims, any liability, any obligations stated or implied, or any part thereof, now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee or assure the payment of the any obligations, or any part thereof. The parties have fully educated themselves as to the effects and implications of this agreement and only upon fully satisfying themselves have https://www.mhc.tn.gov.in/judis agreed to enter into and sign this Agreement. The parties to 32 this agreement have jointly declared that they have understood the contents of this Agreement and parties have not been induced/coerced/forced to enter into this agreement or to indemnify each other on the basis of a contemplation, belief, understanding or agreement that other parties will be liable to pay or perform any current or future obligations.
23.This Memorandum of Agreement shall be executed in one or more counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute one and the same instrument.
24.The persons signing this Memorandum of Agreement on behalf of the parties represent and warrant that they have the authority to sign and execute this Memorandum of Compromise on behalf of the parties for whom they are signing.
25.This Memorandum of Compromise Agreement shall be filed in C.S.No.716 of 2011 on the file of the High Court of Judicature at Madras with a request to dispose the suit in terms of this Memorandum of Compromise Agreement. Simultaneously, the parties shall withdraw all other cases/suits as set out in Annexure-1.
https://www.mhc.tn.gov.in/judis 33 ANNEXURE-1 List of Pending Court Matters to be withdrawn Case No. and Cause Title Reliefs Sought Status Court Details M/s.Besser The suit and the Concrete Systems connected Limited Vs. applications are M/s.Accord Finance pending before the and Properties Principal District Private Limited, Court at C.S.No.856/2005 ICICI Bank Ltd, Chengalpattu. On before High Court Mrs. Prashanthi the demise of of Madras which Reddy, Suit for Specific M.P.Varadha was later transferred Mr.Mohideen Sheik Performance & Reddy, the legal to Principal District Uduman, Late. Declaration heirs were Court at Mr.P.Varada impleaded in the Chengalpattu and Reddy, (the father suit as per Order in renumbered as of Mrs.Smitha R IA/465/2018 OS.No.54 of 2016 Arons @ Smitha allowed by this Reddy), Mr.Sheik Hon'ble Court vide Mohamed, its Order dated Mr.Dodla Sunil 12.04.2018.
Reddy,
Mr.DodlaSesha
Reddy and
Mrs.P.Suganthi
P.Varada Reddy
(Father of The case is pending
Mrs.Smitha R (On the demise of
Arons @ Smitha M.P.Varadha
Reddy & Mrs.Shruti Reddy, the legal
Reddy) against M/s. heirs being
Accord Finance and Mrs.Smitha R
Properties Private Arons @ Smitha
O.S.No.121/2011 Limited, Suit for Partition Reddy & Mrs.Shruti
before the Principal R.Ramakrishna Reddy were
District Court at (Husband of impleaded in the
Chengalpattu Mrs.Padma suit).
Ramakrishna), Mrs.
Prashanthi Reddy,
Mr.Mohideen Sheik
Uduman, Mr.Sheik
Mohamed,
Mr.Dodla Sunil
https://www.mhc.tn.gov.in/judis Reddy, Mr.DodlaSesha 34 Case No. and Cause Title Reliefs Sought Status Court Details Reddy, Ms.P.Suganthi and M/s.Besser Concrete Systems Limited Mrs.Prashanthi Reddy against M/s.Accord Finance and Properties Private Limited, R.Ramakrishna The same is (Husband of pending (On the Mrs.Padma demise of M.P. Ramakrishna), Varadha Reddy, the Mr.Mohideen Sheik legal heirs being O.S.No.122/2011 Uduman, Late Suit for Partition Mrs.Smitha R before the Principal Mr.P.Varada Reddy Arons @ Smitha District Court at (Mrs.Smitha R Reddy & Mrs.Shruti Chengalpattu Arons @ Smitha Reddy were Reddy & Mrs.Shruti impleaded in the Reddy), Mr.Sheik suit).
Mohamed,
Mr.Dodla Sunil
Reddy,
Mr.DodlaSesha
Reddy,
Mrs.P.Suganthi and
M/s.Besser
Concrete Systems
Limited.
Mr.Dodla Sunil
Reddy against The case is pending
O.S.No.122/2011 M/s.Accord Finance (On the demise of
before the Principal and Properties Suit for Partition M.P. Varadha
District Court at Private Limited, Reddy, the legal
Chengalpattu R.Ramakrishna heirs being
(Husband of Mrs.Smitha R
Mrs.Padma Arons @ Smitha
Ramakrishna), Reddy & Mrs.Shruti
Mrs.Prashanthi Reddy were
Reddy, impleaded in the
Mr.Mohideen Sheik suit).
Uduman, Late
https://www.mhc.tn.gov.in/judis Mr.P.Varada Reddy (the father of 35 Case No. and Cause Title Reliefs Sought Status Court Details Mrs.Smitha R Arons @ Smitha Reddy & Mrs.Shruti Reddy), Mr.Sheik Mohamed, Mr.DodlaSesha Reddy, Mrs.P.Suganthi and M/s.Besser Concrete Systems Limited Mr.DodlaSesha Reddy against The case is pending M/s.Accord Finance (On the demise of and Properties M.P. Varadha Private Limited, Reddy, the legal R.Ramakrishna Suit for Partition heirs being O.S.No.131/2011 (Husband of Mrs.Smitha R before the Principal Mrs.Padma Arons @ Smitha District Court at Ramakrishna), Mrs. Reddy & Mrs.Shruti Chengalpattu Prashanthi Reddy, Reddy were Mr.Mohideen Sheik impleaded in the Uduman, Late suit).
Mr.P.Varada Reddy
(the father of
Mrs.Smitha R
Arons @ Smitha
Reddy), Mr.Sheik
Mohamed,
Mr.Dodla Sunil
Reddy,
Mrs.P.Suganthi and
M/s.Besser
Concrete Systems
Limited
O.S.No.668/2014 Suit for vacating M/s.Accord Finance
before District and delivering and Properties
Munsif Court at vacant possession Private Limited got
Chengalpattu of Schedule A an ex-parte order in
Property their favour
https://www.mhc.tn.gov.in/judis 36 Case No. and Cause Title Reliefs Sought Status Court Details The delivery of the Schedule A E.P.No.6 of 2015 Execution Petition Property was M/s.Accord Finance ordered in favour of and Properties M/s.Accord Finance Private Limited and Properties against M/s.Besser Private Limited Concrete Systems Limited Allowed in favour of M/s.Besser CRP (NPD) Nos.60 Concrete Systems & 793 of 2016 Limited and thereby before the Hon'ble Civil Revision the ex-parte decree High Court of Petitions obtained by M/s.
Madras along with Accord Finance and
few CMPs and both Properties Private
the Civil Revision Limited in
Petitions (60 & 793 O.S.No.668 of 2014
of 2016) was set aside and
the property was
restituted and
repossessed by
M/s.Besser
Concrete Systems
Limited. Further
the O.S.No.668 of
2014 was
transferred before
the Principal
District Court at
Chengalpattu and
renumbered as
O.S.No.119 of 2016
and the same is
pending before the
Principal District
Court at
Chengalpattu
C.R.P.
(PD).No.1967 of M/s.Besser The Hon'ble High
2019 before the Concrete Systems Civil Revision Court was pleased
Hon'ble High Court Limited against Petition to grant an order of
of Judicature at
https://www.mhc.tn.gov.in/judis M/s.Accord Finance status-quo on
Madras and Properties 24.06.2019 and the
37
Case No. and Cause Title Reliefs Sought Status
Court Details
Private Limited same is still
pending.
SCHEDULE A PROPERTY
All that piece and parcel of land measuring about 12.56 acres or thereabouts comprised in Survey Nos: 5, 6/1, 6/2, 7, 8, 9, 10, 11/2, 117, 118, 119, 120, 121, 122, 123, 124, 125/1 and 125/2, situated in Kelambakkam Village, Thiruporur Taluk (previously Chengalpet taluk) and Chengalpet District (previously Kancheepuram District) with all buildings and superstructure, bounded on the:
North by : PoonganThangallake
South by :Old Kelambakkam Village (Lagoon Road)
East by : Keliamman Drinking Water Tank
West by : Church
and situated within the Sub-Registration District of
Thiruporur and Registration District of Chengalpet.
SCHEDULE B PROPERTY All that piece and parcel of land measuring about 6.98 acres or thereabouts comprised in Survey Nos: 117, 118, 119, 120, 121, 122, 123, 124, 125/1 and 125/2, forming part of Schedule A property situated in Kelambakkam Village, Thiruporur Taluk (previously Chengalpet taluk) and Chengalpet District (previously Kancheepuram District) with https://www.mhc.tn.gov.in/judis all buildings and superstructure, bounded on the:
38 North by : PoonganThangallake
South by :Old Kelambakkam Village (Lagoon Road)
East by : Lands in Survey Nos:5, 6/1 and 6/2
West by : Church
and situated within the Sub-Registration District of
Thiruporur and Registration District of Chengalpet.
SCHEDULE C PROPERTY (Property retained by the Party of the Tenth Part) All that piece and parcel of land measuring about 5.58 acres or thereabouts comprised in Survey Nos: 5, 6/1, 6/2, 7, 8, 9, 10, 11/12 forming part of Schedule A property situated in Kelambakkam Village, Thiruporur Taluk (previously Chengalpet taluk) and Chengalpet District (previously Kancheepuram District) with all buildings and superstructure, bounded on the:
North by : PoonganThangallake
South by :Old Kelambakkam Village (Lagoon Road)
East by : Keliamman Drinking Water Tank
West by : Land in S.Nos.117, 118 & 119
and situated within the Sub-Registration District of
Thiruporur and Registration District of Chengalpet. In witness whereof, the parties have executed this deed as of the date first written above The PARTY OF THE FIFTH PART The PARTY OF THE SIXTH PART Power Agent Power Agent The PARTY OF THE THIRD PART The PARTY OF THE FOURTH PART Power Agent Power Agent https://www.mhc.tn.gov.in/judis 39 The PARTY OF THE FIFTH PART The PARTY OF THE SIXTH PART Power Agent Power Agent The PARTY OF THE SEVENTH PART The PARTY OF THE EIGHTH PART Power Agent Power Agent The PARTY OF THE NINTH PART The PARTY OF THE TENTH PART For Bresser Concrete Systems Limited For Accord Finance and Properties Director Private Limited Director The PARTY OF THE ELEVENTH PART The PARTY OF THE TWELFTH PART Mrs.Padma Ramakrishna Mrs.Deepa Ramakrishna (Power Agent) (Power Agent) The PARTY OF THE THIRTEENTH PART For Centwin Housing Private Limited Director Witness 1: Witness 2:
9.In view of the same, the Joint Memorandum of Compromise is recorded and accordingly, final decree is passed in terms of the Compromise. The Joint Memorandum of Compromise shall form part of the decree. There shall be no order as to costs. Consequently, connected applications are closed.
20.04.2022 Index: Yes/No Speaking order:Yes/No pam https://www.mhc.tn.gov.in/judis 40 V.BHAVANI SUBBAROYAN, J.
pam C.S.No.716 of 2011 20.04.2022 https://www.mhc.tn.gov.in/judis