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Judgment
T. Mathivanan, J.—The Appellants are the Defendants 2 and 3 in the suit in O.S. No. 8421 of 1998 and the second Respondent herein is
the first Defendant therein. The first Respondent, who is the Plaintiff in the suit, had filed the suit for recovery of a sum of Rs. 6,26,267/- together
with interest at the rate of 24% per annum from the date of the plaint till the date of realisation. But the suit was decreed only for Rs. 4,00,000/-.
During the time of trial, the second Respondent herein (D1 in the suit) remained exparte. Now, the Appellants and the first Respondent have
entered into a compromise and to that effect they have filed a joint memorandum of compromise.
In so far as the second Respondent is concerned, since he remained exparte in the suit, the learned Counsel for the Appellants has made an
endorsement saying that the second Respondent might be given up. Accordingly, the second Respondent is given up.
It appears from the memorandum of compromise that in pursuant to the Order of this Court dated 12.03.2004 and made in C.M.P. No. 21406
of 2003 in A.S. No. 978 of 2003 the Appellants have opened a fixed deposit account with the first Respondent bank under FD receipt No.
800770 and thereby deposited a sum of Rs. 2,18,792/-. Now, the Appellants have given their express consent to the first Respondent to encash
and appropriate the said fixed deposit. The Appellants have also given an undertaking that they would co-operate with the first Respondent bank
and to execute necessary papers for the same.
It also appears from the memorandum of compromise that the first Respondent bank shall be entitled to take fixed deposit with accrued interest
towards the full satisfaction of the decree and judgment made in O.S. No. 8421 of 1998. The first Respondent bank also agreed to pay a sum of
Rs. 10,000/- to the Appellants on the encashment of the aforesaid fixed deposit. The Appellants and the first Respondent shall have no further
claim against each other in respect of the subject suit. It is to be mentioned here that the settlement arrived among the Appellants and the first
Respondent as stated above is without prejudice to the right of the first Respondent to proceed against the second Respondent for recovering the
balance dues as per the judgment and Decree dated 26.07.2001 and made in O.S. No. 8421 of 1998. With these stipulations, the Appellants and
the first Respondent have settled their dispute.
It is brought to the notice of this Court that the fixed deposit receipt bearing No. 800770 for Rs. 2,18,792/-stands in the name of the Registrar
General, Madras High Court and that a direction be issued to the Registrar General to pay the said amount by way of cheque in the name of the
first Respondent.
Having regard to the submissions made by the learned Counsel for the Appellants as well as the first Respondent and on considering the related
facts and circumstances, this Court is of view that the appeal may be disposed in terms of the joint memorandum of compromise filed on behalf of
both sides.
Accordingly, this appeal is disposed of and the judgment and Decree dated 26.07.2001 and made in O.S. No. 8421 of 1998, on the file of the
VII Additional City Civil Court, Chennai in respect of the APPELLANTS/Defendants 2 and 3 is set aside and the suit in O.S. No. 8421 of 1998
in respect of the Appellants/Defendants 2 and 3 is decreed in terms of the joint compromise memo. The joint compromise memo shall form part of
the records. The first Respondent/Plaintiff is at liberty to proceed against the second Respondent for recovering the balance dues as per the
judgment and Decree dated 26.07.2001 and made in O.S. No. 8421 of 1998, on the file of the VII Additional City Civil Court, Chennai.
The Registrar General, High Court, Madras do pay a sum of Rs. 2,18,792/- to the first Respondent/Plaintiff, which is now in Court deposit
standing to the credit of the appeal in A.S. No. 978 of 2003. No costs.