Final Order 1

Order Details: Other
Pdf Text: :1: S.J. No.117/2018 in Summary Suit No.4949/2011
IN THE BOMBAY CITY CIVIL COURT AT MUMBAI
SUMMONS FOR JUDGMENT NO. 117 OF 2018
CNR NO.: MHCC010044192018
IN
SUMMARY SUIT NO. 4949 OF 2011
(HIGH COURT SUIT NO.2168 OF 2011)
Swati Verma & Ors. ….Plaintiffs
Versus
Quadrile Management Services Pvt. Ltd. ...Defendant
Appearances:
Advocate Mr. Anil Vishnoghi for the plaintiff.
None for the defendant.
CORAM : HER HONOUR ADHOC JUDGE
SONALI P. AGARWAL
(C.R.NO.14)
DATED : 3rd OCTOBER, 2019.
O R A L O R D E R
This is a Summons for Judgment taken out for recovery of money
against defendant.
Story of plaintiff in short is as under :
2. Plaintiff has stated that on and until about November 2007, there
were negotiations between the plaintiffs and the defendant for
investment in the defendant Company against which shares to be
issued. An Agreement was entered into wherein the plaintiffs would be
allotted shares in the defendant Company upon making their
investments. Accordingly, the investments were made by the plaintiffs
in the defendant Company as under:
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Plaintiff
No.
Cheque
No.
Amount No. of
shares to
be
allotted
Present value
including 18%
interest as on
10.12.2010.
1 525836
drawn
19.12.2007
on HDFC
Bank
Rs.10,00,000/ 181,818 16,33992
1A 884401
drawn on
19.12.2007
on HDFC
Bank
Rs.10,00,000/ 181,818 16,33992
2 385327
dated
29.04.2008
drawn on
HDFC Bank
Rs.12,50,000/ 92,593 19,26,645
3 795039
dated
29.04.2008
drawn on
ICICI Bank
12,50,000/
Above payments were accordingly made by the plaintiffs to the
defendant for the purposes of allocation of shares in the defendant
Company in favour of the respective plaintiffs. The defendant failed to
issue the shares as required.
3. Plaintiff has further stated that accordingly, the defendant
acknowledged receipt of the advance towards the share subscription.
Plaintiffs Exhibit No. Date of defendants' letter of
acknowledgement
Plaintiff No.1 A 22nd December 2007
Plaintiff No.1A B 22nd December 2007
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Plaintiff No.2 C 2nd May 2008
Plaintiff No.3 D 2nd May 2008
4. Plaintiff has further stated that despite several requests and
followup, no shares came to be allotted by the defendant to the
plaintiffs. Accordingly, there were several followup by the plaintiffs
with the defendant for the issuance of the shares but to no avail.
Plaintiff has further stated that in the year 2009, there was a discussion
between the plaintiffs and the defendant that the amount has been paid
for the purposes of purchase of the shares be repaid as a loan. The
plaintiffs crave leave to refer to and rely upon following letters as
under:
Letter Dated From To Exhibit
No.
20 June 2009 Plaintiff No.1 Defendant E
30 July 2009 Plaintiff No.1 Defendant F
3 August 2009 Defendant Plaintiff Nos. 1 and
1A
G
21 November 2009 Plaintiff No.2 Defendant H
02 December 2009 Plaintiff No.3 Defendant I
11 December 2009 Plaintiff No.2 Defendant J
7 January 2010 Defendant Plaintiff Nos. 1 and
1A
K
8 January 2010 Plaintiff No.1 Defendant L
27 January 2010 Plaintiff No.2 Defendant M
25 February 2010 Defendant Plaintiff No.2 N
8 June 2010 Defendant Plaintiff Nos. 1 and
1A
O
15 June 2010 Plaintiff No.1 Defendant P
5. Plaintiff has further stated that the defendant breached their
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promise to both issue shares and/or to return the loan amount that
accrued interest thereon. Accordingly, the plaintiffs issued the following
letters of demand to the defendant for their payments with accrued
interest thereon.
From Plaintiff No. Demand letter dated Exhibit No.
Plaintiff No.1 21st September 2010 Q
Plaintiff No.1A 21st September 2010 Q
Plaintiff No.2 21st September 2010 R
Plaintiff No.3 21st September 2010 R
Therefore, plaintiff filed this suit.
6. After defendant appeared in the suit, plaintiff has taken out this
Summons for Judgment against defendant. Defendant failed to file any
reply or file any application for leave to defend to Summons for
Judgment. Therefore, plaintiffs are entitled to get judgment and decree
as per Order XXXVII Rule (3) subrule 6, sub rule (a) of the Code of
Civil Procedure, 1908.
7. Plaintiffs have produced all the documents corroborating
allegations in the plaint which are acknowledgement Letter dated 22nd
December, 2007, addressed to plaintiff No.1 for monies paid towards
subscription of shares in the company along with plaintiff No.1's letter
to defendant, acknowledgement letter dated 22nd December, 2007,
addressed to plaintiff No.1A for monies paid towards subscription of
shares in the company along with plaintiff No.1A's letter to defendant,
acknowledgement letter dated 2nd May, 2008, addressed to plaintiff
No.2 for monies paid towards subscription of shares in the company,
acknowledgement Letter dated 2nd May, 2008, addressed to plaintiff
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No.3 for monies paid towards subscription of shares in the company,
Email dated 20th June, 2009 from Ms. Mahua Ghose of the defendant to
plaintiffs, Email dated 30th July, 2009 from plaintiffs to Ms. Mahua
Ghose of the defendant, Email dated 3rd August, 2009 from Ms. Mahua
Ghose of the defendant to plaintiffs, Email dated 21st November, 2009
from plaintiff No.2 to Ms. Mahua Ghose of the defendant, Email dated
2nd December, 2009 from plaintiffs to Ms. Mahua Ghose of the
defendant, Email dated 11th December, 2009 from plaintiff No.2 to Ms.
Mahua Ghose of the defendant, Email dated 1st January, 2010 from Ms.
Mahua Ghose of the defendant to plaintiffs, Email dated 7th January,
2010 from Ms. Mahua Ghose of the defendant to plaintiffs, Email dated
8th January, 2010 from plaintiffs to Ms. Mahua Ghose of the defendant,
Email dated 27th January, 2010 from plaintiff No.2 to Ms. Mahua Ghose
of the defendant, Email dated 26th February, 2010 from plaintiff No.3 to
plaintiff No.2, Email dated 8th June, 2010 from Ms. Mahua Ghose of the
defendant to plaintiffs, Email dated 15th June, 2010 from plaintiffs to
Ms. Mahua Ghose of the defendant, Legal Notice from advocates of
plaintiffs No.1 & 1A dated 21st September, 2010 along with postal
receipts, Retyped copy of the notice dated 21st September, 2010, Legal
Notice from advocates of plaintiff No.2 dated 21st September, 2010
along with postal receipts, Retyped copy of the Notice dated 21st
September, 2010 and Windingup Notice from advocates of plaintiffs on
record as documentary evidence. Therefore, plaintiffs have sufficiently
shown that, plaintiff Nos.1 and 1A are entitled to get sum of
Rs.32,67,984/, plaintiff No.2 is entitled to get sum of Rs.19,26,645/
and plaintiff No.3 is entitled to get sum of Rs.19,26,645/ from the
defendants. But it appears that defendant has already deposited amount
of Rs.10,00,000/ in the Court, therefore, it will be proper to adjust it
towards the decree in equal proportion between all plaintiffs.
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8. It appears that as per Section 34 of the Code of Civil Procedure,
1908, it will be proper to direct defendant to give interest @ 9% p.a. on
the amount of Rs. 32,67,984/, Rs.19,26,645/ and Rs.19,26,645/ from
the date of filing of the suit till its realisation. Hence, following Order:
ORDER
1. Summons for Judgment No.117/2018 is made absolute.
2. It is hereby ordered and decreed that :
(i) Defendant is directed to pay sum of Rs.32,67,984/ to
plaintiff Nos.1 and 1A, Rs.19,26,645/ to plaintiff No.2 and
Rs.19,26,645/ to plaintiff No.3 alongwith interest @ 9% p.a.
from the date filing of the suit till its realisation.
(ii) Defendant shall bear the cost of plaintiff at their own.
(iii) Plaintiffs are entitled for refund of Court fee as per rules.
(iv) Decree be drawn accordingly.
(v) The amount deposited by defendant as per Order in Notice
of Motion No.1558/2012 of Rs.10,00,000/ be adjusted towards
decree in equal proportion between all plaintiffs.
(vi) Summary Suit No.4949/2011 is disposed of.
(SONALI P. AGARWAL)
Adhoc Judge,
Date: 03.10.2019. City Civil Court,
Gr. Bombay.
Dictated on : 03.10.2019
Transcribed on : 03.10.2019
Signed on : 03.10.2019
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CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER.”
07.10.2019 At 11:11 a.m. Mr. Subhash Sukhdeo Poul
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (With Court
Room No.)
HHJ SONALI P. Agarwal
(C.R.NO.14)
Date of pronouncement of
Judgment/Order
03.10.2019
Judgment/Order signed by P.O. on 03.10.2019
Judgment/Order uploaded on 07.10.2019
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