ORDER :- This is an application filed under Order XIV Rule 8 of O.S. Rules r/w Proviso to Order XXIII Rule 3 (A) C.P.C. to set aside the compromise decree dated 27-1-2003 arrived in C.S. No. 49 of 2003 filed by the respondent against this petitioner claiming a money decree for Rs. 2.50 crores and interest of Rs. 45 lakhs and it is at such claim a compromise was arrived at on 27-1-2003, whereby a decree for 3.00 crores was passed and which is not sought to be set aside.

2. This petitioner company was managed by a Board of Directors originally headed by one Mr. G. Venkateswaran (known as G.V.), who ended his life on 3-5-2003 probably under financial pressure, thereupon all the Directors, Statutory Auditor and Company Secretary resigned and there was a total vacuum. Subsequently there was a Scheme approved by this Court order dated 29-4-2004 in C.P. Nos. 89 and 90 of 2004 and a new Board of Directors took over the management, who upon scrutiny found that several creditors played influence upon G.V. and inflated their claims by alleged unreasonable methods and one such incident is the present compromise decree in C.S. No. 49 of 2003, which was a suit for recovery of money based upon exo

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