M/S. Sree Meenakshisundaram Textiles Ltd., v. T. Prema

JUDGMENT (Judgment of the Court was delivered by C.V.Karthikeyan J.) It is with much prudence that the appellant and the respondents had taken a conscious decision to settle amicably the issue raised in the appeal. We would place deep appreciation for the learned counsel for the appellant and also the learned counsel for the respondents who by their assistance had ensured that an amicable settlement had been reached between the parties.

2.As terms of the settlement, the appellant who had deposited a sum of Rs.25/- lakhs at the time of filing of the appeal has now been called upon to tender a further sum of Rs.25/- lakhs in full and final settlement of the claim.

3.The 5th respondent / Mr.Meenakshisundaram who is the son of Mr.M.Thiagarajan, is present in Court. His mother and three sisters are the other respondents in the appeal, apart from the company, Valliammai Textiles and his father, Mr.M.Thiagarajan, who had since died. Page3 of 5

4.A Joint Memo of Compromise had been presented before this Court dated 23.02.2026 signed by the authorized representative of the appellant, Mr.M.Ramanathan and also signed by each one of the other respondents.

5.It is to be noted that the 1st respondent M/s.Valliammai Textiles had assigned the debt owned by the appellant to Mr.M.Thiagarajan. The Joint Memo of Compromise had also been signed by the learned counsel for the appellant and by the learned counsel for the respondents. The resolution passed by the Members of the Board of the appellant company authorizing Mr.M.Ramanathan to enter into the settlement had also been enclosed.

6.By the terms of settlement, the amount of Rs.25/- lakhs which is now in the Court deposit may be paid to the 5th respondent, T.Meenakshisundaram. The additional sum of Rs.25/- lakhs had been paid by demand draft to the 5th respondent, T.Meenakshisundaram who had also acknowledged the receipt of the same. The Joint Registrar, Appellate Side, had also filed a Certificate of Funds that a sum of Rs.25/- lakhs is lying in fixed deposit to the credit of this appeal.

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7.The Registry is directed to recall the fixed deposit of Rs.25/- lakhs and together with accrued interest, pay the same to the 5th respondent, T.Meenakshisundaram on producing proper identification. The Joint Memo of Compromise stands recorded. At the time of payment out, notice to the appellant may be dispensed with.

8.In view of the fact that the parties had entered into a compromise, the Appeal stands disposed of in terms of Joint Compromise of Memo. The Joint Memo of Compromise dated 23.02.2026 shall form part of the decree. No costs. Consequently, connected Civil Miscellaneous Petitions are closed. The appellant is entitled for refund of Court fees in accordance with Section 69(A) of the Tamil Nadu Court Fees and Suit Valuation Act, 1955. (C.V.K.,J.) (K.B.,J.) 23-02-2026 smv Index: Yes/No Speaking/Non-speaking order APPEAL(CAD)oNo.o31oofo202 C.V.KARTHIKEYAN,oJ. AND K.KUMARESHoBABU,oJ. smv APPEAL(CAD)oNo.o31oofo2023 23-02-2026 Page5oofo5

Page1 of 5 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 23-02-2026 CORAM THE HON'BLE MR JUSTICE C.V. KARTHIKEYAN AND THE HON'BLE MR.JUSTICE K.KUMARESH BABU APPEAL(CAD) No. 31 of 2023 and CMP Nos.27720 & 27721 of 2023 M/s. Sree Meenakshisundaram Textiles Ltd., A company incorporated under the Companies Act, Having its registered office at 1st Floor, Sons Tower, 71, Millers Road, Bengalore - 560 052, Karnataka State and Sales Depot -cum- Subsidiary office At D.No.6 and 7 Munsif Sreemivasapuram, Tiruppur in Taluk, Rep by its Managing Director. ..Appellant(s) Vs M/s. Valliamman Textiles Rep by its Propreitor M. Yegappan (Died) M. Thiagarajan (Died) 1. T.Prema 2. Meenakshi 3. Meyyammai 4. Kannammai 5. Meenakshisundaram ..Respondent(s) This appeal filed under Section 96 of CPC, prayed to set aside the Judgement and Decree in COS No.4 of 2022 dated 05.08.2023 on the file of the Principal District Judge, Tirupur. Page2 of 5 For Appellant(s): Mr.S.R.Raghunathan For Mr.Manjunath Karthikeyan For Respondent(s): Mr.C.P.Hem Kumar for M/s.Ganesh and Ganesh