A joint memorandum of compromise signed by the appellant M/s.Rajyog Constructions Limited represented by its director Bharath Kumar and also by the second respondent- Lakshmi Rajagopal and the third respondent-Harshini Rajagopal, who have been brought on record, has been filed, in view of the fact that the first respondent-V.Rajagopal died during pendency of the proceedings. According to the Joint Memorandum of Compromise, the respondents had received a sum of Rs. 7,50,000/- and a sum of Rs.7,50,000/- by way of Demand Drafts dated 02.08.2017 drawn in favour of the second and third respondents respectively. Consequently, there are no claims due and payable by the appellant.
2. The terms of Joint Memorandum of Compromise are recorded, which is as follows:-
"1. The Respondents herein do hereby withdraw all the allegations made against the appellant company before the Company Law Board and such other forums and authorities and hereby declare that they have no claims or demands whatsoever on any account against the appellant company and do hereby admit and acknowledge having received from the appellant company a sum of Rs. 7,50,000/- (Rupees Seven Lakhs and Fifty Thousand Only) by way of DD No.547443 dated 02- 08-2017 drawn on Corporation Bank Kellys Corner in favour of Lakshmi the 2nd respondent and a sum of Rs.7,50,000/-(Rupees Seven Lakhs and Fifty Thousand Only) by way of DD No.547444 dated 02- 08-2017 drawn on Corporation Bank Kellys Corner in favour of Harshini the 3rd Respondent totaling Rs.15,00,000/- (Rupees Fifteen Lakhs Only) by way of full and final settlement of all claims against the appellant company.
2. The respondent do hereby declare that pursuant to this Joint Memorandum no amounts are due and payable by the appellant company in terms of the Order dated 10-03-2014 passed by the Company Law Board Chennai Bench in CA No.216/2011 or under any other account(s) and the Appellants also declare that they will not have any claim, whatsoever, against the Respondents.
3. The parties hereto pray that this Hon'ble Court may be pleased to pass an order recording the joint memorandum in the above appeal."
3. The Joint Memorandum of Compromise is recorded. In view of the Joint Memorandum of Compromise, the Company Appeal is closed. No costs.
08.09.2017 srn To The Company Law Board, Chennai Bench
C.V.KARTHIKEYAN.J
srn
COMPANY APPEAL NO.6 OF 2014
08.09.2017