(Prayer in C.S.(Comm.Div.) No.337 of 2020: Plaint filed under Order VII Rule 1 of the Code of Civil Procedure, 1908 Read With Order IV Rule 1 of the Madras High Court Original Side Rules Read With Section 7 of the Commercial Courts Commercial Division and Commercial Appellate Division of High Court Act 4 of 2016, praying the judgment and decree as follows:-

                   (a) Directing the 1st to 5th Defendants, jointly and severally, to pay to the Plaintiff a sum of INR 2,04,79,246.10 (Rupees Two Crores, Four Lakhs, Seventy Nine Thousand and Two Hundred and Forty Six Rupees and Ten Paise Only) wherein, EUR 23,578.70 (as current market exchange rate 1 Euro = 87.68 Indian Rupees), that is, being the principal amount, along with an interest at the rate of 18% per annum from the date on which the invoices became due till the date of actual payment by the Defendants.

                   (b) Directing the Defendants to pay to the Plaintiff the costs of the suit.

In C.S.(Comm.Div.) No.117 of 2025: Plaint filed under Order IV Rule 1 of OS Rules Read With Order 7 Rule 1 and Section 44A of the Code of Civil Procedure, 1908 Read With Section 7 of the Commercial Courts Act, praying the judgment and decree as follows:-

                   (a) Declare the decree of the Italian Court dated 19 March 2020 as a decree of this Hon’ble Court and enforce the said decree by directing the defendant to pay the plaintiff the following sums of money:

                   i. Euros 374,078.72 (INR 35,380,557.37/- at the conversion rate as on 17 March 2025) towards the invoices along with default interest, amounting to Euros 220,095.08, Calculated up to 28 February 2025 INR 20,787,404.06/- at the conversion rate as on 17 March 2025, as well as future interest till the date of realization, as per the Foreign Decree.

                   ii. Euros 4,634 (INR 4,38,210.70 at the conversion rate as on 17 March 2025) towards costs, disbursements, as per the Foreign Decree.

                   iii. Euros 1,807.2 (INR 1,70,892.00/- at the conversion rate as on 17 March 2025) towards “the 15% flat-rate reimbursements of general costs, VAT and Social Security Fund for lawyers”, as per the Foreign decree.

                   iv. The costs of the present suit.

                   (b) Pass such other orders.)

Common Judgment:

1. C.S.(Comm.Div.) No.337 of 2020 was filed by CODEYCO S.P.A against V.K.Enterprises and four partners of said partnership for recovery of a sum of rupees 2,04,80,180.40/- with interest thereon at 18% per annum.

2. C.S.(Comm.Div.) No.117 of 2025 was filed by CODEYCO S.P.A against KEM Finishes Private Limited seeking a declaration that decree dated 19.03.2020 of the Italian Court is a decree of this Court and for enforcement thereof in the manner specified in paragraph 50 of the plaint in the said suit.

3. Upon reference being made to the Tamil Nadu Mediation and Conciliation Centre, parties reached a settlement and executed settlement agreement dated 14.02.2026. All parties to the two suits are parties to the settlement agreement. The settlement agreement has been duly signed by an authorized signatory of the plaintiff in the two suits; the Authorized Signatory of the sole defendant in C.S.(Comm.Div.) No.117 of 2025; by the partners of the first defendant in C.S.(Comm.Div.) No.337 of 2020; and by the other parties to the said suit.

4. The settlement agreement is scanned and reproduced below:

                  

                  

                  

                  

                  

                                   

                  

                  

                  

                  

                  

                  

                  

                  

5. In view of the above settlement, both the suits are closed as settled out of Court. The plaintiff shall be entitled to a full refund of the Court fee in both suits on account of the settlement. Upon production of an authorization in this regard, the refund shall be made to counsel for the plaintiff to enable transmission thereof to the plaintiff in Italy. There shall be no order as to costs. Consequently, the connected applications are closed.