C.S.No.665 of 2019

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 23.01.2023

CORAM

THE HONOURABLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

C.S.No.665 of 2019

Volex Interconnect (India) Private Limited,

Represented by its Authorized Signatory

Having its Registered Office at

Level 9, Olympia Taknos Park,

No.28, SIDCO Industrial Estate,

Guindy, Chennai - 600 032.

... Plaintiff

-vs-

1.Siva

2.Mr.Rajinikanth,

Proprietor Technique Engineering Works,

son of Mr.Subramanian,

No.11/18, Devar Street,

Venkatapuram, Ambattur,

Chennai - 600 053.

3.Axis Bank Ltd.,

Thiruvanmiyur Branch,

Represented by its Branch Manager,

New No.137, Old No.44/1, East Coast Road,

Srinivasapuram, Thiruvanmiyur,

Chennai - 600 041.

... Defendants

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C.S.No.665 of 2019

PRAYER: Plaint filed under Order IV Rule 1 of the O.S.Rules Read with

Order VII Rule 1 of the CPC, prayed for a judgment and decree:-

(a) Directing the defendant 1 and 2 to jointly and severally pay the

plaintiff a sum of Rs.3,91,08,708/- (Rupees Three Crores Ninety One Lakhs

Eight Thousand Seven Hundred and Eight only) together with interest at

12% per annum from the date of the suit till the date of realization.

(b) Directing the first defendant to pay a further sum of

Rs.56,18,000/- (Rupees Fifty Six Lakhs and Eighteen Thousand only)

together with interest at 12% per annum from the date of the suit till date of

realization.

(c) Directing the defendants jointly and severally to bear the cost of

the suit.

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C.S.No.665 of 2019

For Plaintiff

: Mr.Surya Senthil

for M/s.Surana & Surana

For Defendants

: Set Ex parte

**********

JUDGMENT

The suit was filed for recovery of a sum of Rs.3,91,08,708/-, jointly

and severally, from the first and second defendants with interest thereon at

12% per annum from the date of suit till the date of realization. In addition,

the plaintiff has prayed for a direction to the first defendant to pay a sum of

Rs.56,18,000/- along with interest thereon at 12% per annum from the date

of plaint till the date of realization. In the plaint, the plaintiff stated that it is

a subsidiary of Volex PLC (UK). The plaintiff was engaged in the

manufacturing and assembling of medical and telecommunication cable

assemblies and power cords. The first defendant was appointed as the

Financial Manager of the Indian Operations of the plaintiff. As the Financial

Manager, it is stated that he was solely responsible for banking, non-

banking and other financial transactions of the plaintiff.

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C.S.No.665 of 2019

2. According to the plaintiff, during a routine check carried out in

2018, various discrepancies in the accounts of the plaintiff were noticed,

especially in the form of transfers to third parties and cash withdrawals.

Therefore, the plaintiff engaged in correspondence with the first defendant in

this regard. Upon further enquiry, it was discovered that the first defendant

had misappropriated an aggregate sum of Rs.4,47,26,708/-. Hence this suit.

3. The first defendant was set ex parte on 26.09.2022 and the second

and third defendants were set ex parte on 26.08.2022. Thereafter, the

matter was posted for recording the ex parte evidence of the plaintiff.

4. The plaintiff examined Mr.A.Velmurugan, its authorized

representative, as P.W.1. In course of the examination in chief of P.W.1, the

35 documents listed at the foot of this judgment were exhibited as Exs.P1 to

P35.

5. Learned counsel for the plaintiff invited my attention to Exs.P2 to

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C.S.No.665 of 2019

P16 and pointed out that these exhibits evidence the payments made by the

first defendant acting purportedly for and on behalf of the plaintiff to various

third parties. By turning to paragraph 23 of the plaint, he pointed out that

the details of these tr