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2012 Supreme(Mad) 4140

S.PALANIVELU
Tamil Nadu Mercantile Bank Ltd. , Rep. by its Managing Director and CEO – Appellant
Versus
S. Murugesan – Respondent


Advocate Appeared:
For the Petitioner:A.L. Somayaji, Senior Counsel for R. Sankaranarayanan, M.S. Krishnan, Senior Counsel for M/s. Sarvabhauman Associates, Murari, Senior Counsel for G. Mariappan, Advocates.
For the Respondents: R1 -M. Vallinayagam, Senior Counsel for M/s. V.R. Shanmuganathan, R6 - S. Kadarkarai, R9
V. Raghavachari, Senior Counsel for M/s. J. Anandkumar, R10 -C. Muthusaravanan, Advocates.

Judgment :-

1. In view of the issues involved in all these Civil Revision Petitions are one and the same, all the Civil Revision Petitions were taken up together and the common order is passed.

2. Background facts in brief are as follows:

2(1). The second respondent bank in C.R.P.(MD)No.1792 and 1802 to 1805 of 2012 is a scheduled commercial bank, established in 1921. In 1994, holders of equity shares of the bank constituting 67% of the total equity capital executed share transfer deeds in favour of seven different entities after receiving the consideration thereof. In relation to these transfers, several suits and company petitions came to be filed in different Courts and Tribunals by various parties. Majority of these proceedings commenced are alleged to be vexatious and prompted by vested interests who have been attempting to exploit the position relating to the share transfers, to obtain control over the bank.

2(b). The first respondent filed a suit in C.O.S.No.233 of 2012 on the file of the Sub Court, Thoothukudi, for permanent injunction. He is one among the shareholders of the bank. He also filed I.A.No.991 of 2012 under Order 39, Rule 1 C.P.C. praying for interim injunction




















































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