M/S.Olympic Warehouse Pvt.Ltd. and Another v. G. Lakshmi Narayanan and Another

ORDER This application has been filed by the applicant to pass an order raising the attachment order dated 12.02.2021 passed in A.No.1192 of 2020 in CS No.123 of 2020 by this Court in respect of the scheduled property.

2.According to the applicant he is the Managing Director of the second applicant who are the defendants in the main suit. The respondent/plaintiff have filed a suit for rental arrears to the tune of Rs.1,20,95,560/-. The applicants herein have filed counter claim as against the respondents/plaintiffs to the tune of Rs.3,25,00,000/-. Already an application A.No.1192/2020 was filed to attach the property of the applicant and this order for attachment through order dated

12.02.2021. While so, this Court already passed conditional order dated

25.01.2022 in application No.577 of 2022 directing the applicants/defendants to deposit a sum of Rs.60,47,780/- and in compliance thereof the applicants/defendants deposited the said amount to the credit of the above suit vide DD No.170894 dated 22.03.2022 and the same is still pending with this Court. Subsequently the parties have arrived at settlement dated 22.02.2024, whereby the applicants/defendants had to pay a sum of Rs.55,00,000/- to the respondents/plaintiffs as full and final settlement towards claim. Based on the settlement agreement this Court passed decree dated 27.02.2024 and dismissed the suit as settled out of Court. The applicants/defendants have paid a sum of Page2 of 5 Rs.10,00,000/- by way of cash to the respondent/plaintiff on 22.03.2024 and the applicants/defendants paid the balance amount after deducting 10%TDS and 18% GST through Demand Draft dated 14.10.2024 drawn of Federal Bank in favour of the respondents/plaintiffs for a sum of Rs.20,16,949/- each totalling to Rs.40,33,898/-. The said DD was encashed by the respondents/plaintiff, therefore the applicants/defendants have complied with the terms of settlement agreement. Since the suit and counter claim were settled out of Court, the applicant is entitled to raise the order of attachment dated 12-02-2021, therefore the present application.

¶3According to the respondent there is delay in payment of settlement amount and the applicants/defendants had deducted 10% of TDS and 18% of GST as per settlement deed. As per settlement there are no terms for deduction of TDS and GST, thereby breached the terms of settlement. Unless the entire claim is settled by the applicants/defendants the attachment cannot be raised, hence this petition is liable to be dismissed.

4.This Court heard both sides and perused the materials available on record.

¶5It is admitted fact that the matter has been amicably settled between the parties and this court decreed the suit in terms of settlement. The Page3 of 5 applicants/defendants have also paid the money as per the settlement. This Court also attached the property through order dated 12.02.2021 and the attachment is still in force. Once the settlement was arrived between the parties and the suit has been disposed of it is appropriate to allow this application and attachment order passed by this Court dated 12.02.2021 in A.No.1192/2020 is ordered to be raised. 27-02-2026 Index: Yes/No Speaking/Non-speaking order mjs Page4 of 5 AoNo.o5915oofo2025 P.DHANABAL,oJ. ep AoNo.o5915oofo2025 inoC.S.No.123oofo2020o 27-02-2026 Page5oofo5

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 27-02-2026 CORAM THE HON'BLE MR.JUSTICE P. DHANABAL in C.S.No.123 of 2020 1.M/s.Olympic Warehouse Pvt Ltd., Rep by its Managing Director S.Sakthivel, No.15, Hostel Road, Thiru Nagar, Vadapalanai, Chennai-600 026 Also at Sothupakkam Road, (opp to NKC Weigh Bridge) Theerhtakarai pattu Village, Red Hills, Chennai 2. S.Sakthivel ..Applicant(s) Vs 1.G.Lakshmi Narayanan 2.G.Ramadevi ..Respondent(s) Prayer:- Application is filed under Order XIV Rule (8) of O.S.Rules r/w Order 38 Rule 6(3) of CPC, to pass an order raising the attachment order dated 12.02.2021 passed in A.No.1192 of 2020 in CS No.123 of 2020 by this Court in respect of the scheduled property. For Applicant(s): Mr.N.K.Sriraman For R-1: Mr.Mohanraj Page1 of 5