1. Civil Suit 404 of 2006 was filed by Subramanyan and Company against Chitra Construction Private Limited and G. Govindarajan seeking permanent injunction and Civil Suit 391 of 2006 was filed by Chitra Construction Private Limited as against S.Subramanyan and Company and its six Partners seeking permanent injunction. On the basis of a compromise memo filed by both the parties, the suit filed by Chitra Construction Private Limited was dismissed as withdrawn and the suit in C.S. No. 404 of 2006 was decreed in terms of the compromise memo.

2. Application No. 5002 of 2007 in C.S. No. 404 of 2006 is filed seeking to set aside the compromise decree passed in C.S. No. 404 of 2006 on 23.2.2007 as null and void and Application No. 5003 of 2007 in C.S. No. 391 of 2006 is filed seeking to set aside the compromise memo and restore the suit in C.S. No. 391 of 2006 by recalling the order dated 23.2.2007 passed therein. Similar averments are found in both the applications. Necessary material facts, in brief, necessary for the disposal of these applications found therein are as follows:

(i) The applicant is a Private Limited Company carrying on business in investment and construction