Anand Venkatraman v. No Respondent

ORDER These applications seek (i) permission to sell the minors' undivided share in the schedule property to Mrs Vijayalakshmi Venkatraman, in modification of the order dated 13.03.2025 passed in O.P.No.867 of 2024; and (ii) an extension of six months for the production of the deposit receipts.

¶2By order dated 13.03.2025, this Court permitted the applicant, as the father and natural guardian of the minors Akshaya Anand and Dhruv Anand, to sell their one-half undivided share in the schedule property. The total property was valued at Rs. 2,85,00,000/-, and the minors' one-half share was assessed at Rs. 1,42,50,000/-. The applicant was directed to invest the sale proceeds attributable to the minors in a nationalised bank and to produce the accounts and deposit receipts before the Assistant Registrar (Original Side-II) within six months.

¶3The applicant states that the original purchaser, Mr J.P. Vasanth Kumar, withdrew from the transaction, thereby terminating the agreement dated

05.09.2024. His sister, Mrs Vijayalakshmi Venkatraman, has now offered to purchase the property at the same valuation.

¶4Mrs Vijayalakshmi Venkatraman has filed an affidavit stating her willingness to purchase the minors' share at the valuation already accepted by this Court. She has also undertaken to pay the entire proportionate consideration attributable to the minors' one-half undivided share and to comply with the conditions set out in the order dated 13.03.2025.

¶5In view of the aforesaid undertaking and because the proposed sale is at the valuation already considered and approved by this Court, the applications are allowed subject to the following conditions:

(i) The applicant is permitted to sell the one-half undivided share in the schedule property belonging to the minors Akshaya Anand and Dhruv Anand to Mrs Vijayalakshmi Venkatraman for a consideration of not less than Rs.1,42,50,000/-. The time to complete the sale is extended to six months from the date of this order.

(ii) The entire consideration attributable to the minors shall be deposited in fixed deposits with a nationalised bank, in accordance with their respective entitlements. The deposits shall be renewed periodically until each minor attains majority.

(iii) No premature withdrawal, encumbrance or creation of any charge over the deposits shall be permitted without leave of this Court.

(iv) The applicant shall file the accounts relating to the transaction, together with copies of the registered sale deed and the fixed deposit receipts, with the Assistant Registrar (Original Side-II) within six months of the date of this order.

¶6The order dated 13.03.2025 shall stand modified only to the extent set out above. All other conditions shall remain in force.

¶7Accordingly, A. Nos. 1768 and 1769 of 2026 are allowed. No costs. 13-07-2026 Index: Yes/No Speaking/Non-speaking order AY

DR.A.D.MARIA CLETE, J. AY A Nos. 1768 and 1769 of 2026 in OP No. 867 of 2024 13-07-2026

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 13.07.2026 CORAM THE HONOURABLE DR.JUSTICE A.D.MARIA CLETE A Nos. 1768 and 1769 of 2026 in OP No. 867 of 2024 Anand Venkatraman S/o.Mr.K.S.Venkatraman, Apartment No.701, Tower - 9 L and T, Raintree Boulevard, Bellary Road, Next to GKVK Campus, Byatarayanapura, Bengaluru Karnataka - 560 092. ..Applicant(s) in all A.s Vs No Respondent Nil ..Respondent(s) in all A.s Prayer in A. No. 1768 of 2026: To permit the order dated 13/03/2025 in O.P.No.867 of 2024 thereby permitting the Petitioner to sell the shares of Minor Akshaya Anand and Minor Dhruv Anand to Mrs.Vijayalakshmi Venkatraman, as per the order dated 13/03/2025 in O.P.No.867 of 2024. Prayer in A. No. 1769 of 2026:To extend the time for production of deposit receipt by further period of 6 months, as per the order dated 13/03/2025 in O.P.No.867 of 2024. For Applicant(s) in both A.s: M/S.S. Jaganathan J.Kalidas V.Rengasubramanian R.Janaki U.Thuyavan For Respondent(s) in both A.s: Nil