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Judgment
6 paragraphs · 238 wordsP.Velmurugan, J
The respondent herein/plaintiff instituted a suit in C.O.S.No.1693 of 2022 on the file of the Principal Commercial Court, Egmore, Chennai, seeking damages. By judgment and decree dated 27.03.2025, the Court below partly decreed the suit with proportionate costs and directed the appellant/defendant to pay a sum of Rs.25,25,000/- to the plaintiff, together with further interest at the rate of 9% per annum from the date of suit till the date of realization. Aggrieved by the said judgment and decree, the present appeal has been preferred by the appellant/defendant.
Heard the learned counsel for the petitioner and the learned Senior Counsel appearing for the respondent and perused the materials available on record.
Having regard to the facts and circumstances of the case, and also considering the submissions made by the learned counsel on either side, there shall be an order of interim stay, subject to the condition that the petitioner shall deposit 50% of the decretal amount, together with proportionate interest and costs, on or before 27.04.2026, to the credit of Appeal (CAD) No.37 of 2026 in the Indian Bank, High Court Branch, Chennai, in an interest-bearing Fixed Deposit Account, which shall be renewed periodically. In default of such deposit within the time stipulated, the interim stay granted by this Court shall stand automatically vacated.
Mr.Y.V.Srihari, learned counsel of M/s.A.S.Kailasam and Associates takes notice for the respondent.
List the matter on 30.04.2026.