R.P.SARATHY Vs. NARASUS COFFEE COMPANY

JUDGEMENT

(1.) Challenging the fair and decreetal order dtd. 16/6/2016 made in I.A.No.141 of 2014, filed to amend the plaint in O.S.No.50 of 2012, on the file of II Additional District Court, Salem, the defendant has filed the above Civil Revision Petition and the plaintiff is the respondent in I.A.No.141 of 2014.

(2.) The suit was filed by the plaintiff for partition and for permanent injunction. Suit was filed under the name and style of "Narasu's Coffee Company' represented by P.Sivanantham against the revisions petitioners herein. Originally, the plaintiff was registered under the provisions of Partnership Act. The partners of the said firm were (1)R.P.Sarathy, (2) B.Latha (3) B.Jayashree (4) P.Sivanantham and (5) Mahalakshmiammal Trust. Subsequently, the said Firm was reconstituted by inducting the wife of P.Sivanantham. Under these circumstances, all the partners have entered into a Memorandum of Understanding on 10.08.2006, whereby, the partners viz., R.P.Sarathy, B.Latha, B.Jayashree and Mahalakshmiammal Trust agreed to retire and P.Sivanantham would continue as a partner after inducting his wife Mrs.Lalitha as one of the partners.

(3.) As per Memorandum of Understanding, Mr.P.Sivanantham is liable to pay a sum of Rs.26.5 crores towards the final settlement to the retirement of all the revision petitioners as well as Mahalakshmiammal Trust. The said amount was also paid by Mr.P.Sivanantham. After the execution of Memorandum of Understanding, the first respondent Firm has been completely under the control of Mr.P.Sivanantham and his wife, who are the only partners of the said Firm. The said Firm viz., Narasu's Company was converted into Sri Narasu's Coffee Company Limited with effect from 01.04.2009. In this regard, Exs.P.26 (True copy of the order of Memorandum and Articles of Association) and P.27 (Xerox copy of incorporation) were marked on behalf of the first respondent herein.