(Order of the Court was made by S.Manikumar,J) Mr.P.C.Harikumar, learned counsel for the writ petitioner submitted that after this Court permitted the petitioner to serve the entire cause papers on Cholamandalam Investment & Finance Co. Ltd., Chennai/second respondent, parties have entered into compromise and that the writ petitioner has agreed to remit a sum of Rs.2,26,83,000/- (Rupees Two Crores Twenty Six lakhs and Eighty Three thousand only) by way of eight Demand Drafts, all dated 22/12/2016, towards full and final settlement of the entire loan account.
2. Learned counsel appearing for the writ petitioner further submitted that Demand Drafts, dated 22/12/2016, have been acknowledged and the original documents pertaining to the subject property have been returned to the writ petitioner.
3. Learned counsel appearing for the petitioner has filed a memorandum, dated 23/11/2016, which is extracted hereunder:-
“1. The above named petitioner begs to state that after filing the above writ petition, the petitioner and the second respondent was entered into a compromise for settlement of the loan Account No.XOHECO100000699221, accordingly, the compromise were entered between the petitioner and the second respondent for a sum of Rs.2,26,83,000/- (Rupees Two crores twenty six lakhs and eighty three thousand only) towards full and final settlement for the closure of the above referred Loan Account.
2. The petitioner humbly states that as soon as the compromise was arrived, the petitioner has agreed remitted the entire settlement amount of Rs.2,26,83,000/- (Rupees Two crores twenty six lakhs and eighty three thousands only) by way of eight demand drafts all dated 22/12/2016 towards “Full and Final Settlement” of the entire loan account. The herewith enclosing the copy of the eight demand drafts.
In view of the above settlement, the petitioner therefore, prays that this Court may be please to record this Memo and close the writ petition No.43578 of 2016 and thus render justice.”
4. Writ petitioner has also produced photocopies of the Demand Drafts, dated 22/12/2016, drawn in favour of Cholamandalam Investment & Finance Co. Ltd., Chennai. Memorandum, dated 23/12/2016 and photocopies of Demand Drafts filed today, shall be treated as part of record.
5. Placing on record the above, no further adjudication is required.
6. Accordingly, this writ petition is closed. No costs.
(S.M.K.,J) (M.G.R.,J) 2nd January 2017.
mvs.
Index: yes/No website: Yes/No.
To
1. The Governor Reserve Bank of India Fort St. George Chennai 9.
2. Cholamandalam Investment & Finance Co Ltd Dare House 2 N.S.C.Bose Road Parrys Chennai 600 001.
S.MANIKUMAR,J a n d M.GOVINDARAJ,J mvs.
Writ Petition No.43578 of 2016 2/1/2017 http://www.judis.nic.in