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M/s. Caprican Wire Products, rep. by its Partner, Tmt.M.Unnamalai, Coimbatore & Others v/s The Tamil Nadu Industrial Investment Corporation Ltd., Coimbatore & Others


Company & Directors' Information:- TMT (INDIA) LIMITED [Active] CIN = L99999TG1976PLC002002

Company & Directors' Information:- P V T INVESTMENT LIMITED [Amalgamated] CIN = U74899DL1988PLC121600

Company & Directors' Information:- P V T INVESTMENT LTD [Not available for efiling] CIN = U67120PB1988PLC008068

Company & Directors' Information:- V. K. INDUSTRIAL CORPORATION LIMITED [Active] CIN = U27100MH2004PLC149538

Company & Directors' Information:- R K INDUSTRIAL CORPORATION LIMITED [Strike Off] CIN = U29300PB1996PLC017836

Company & Directors' Information:- V T INDUSTRIAL CORPORATION LIMITED [Active] CIN = U74990TN2010PLC078041

Company & Directors' Information:- P P PRODUCTS PVT LTD [Active] CIN = U32305WB1991PTC051091

Company & Directors' Information:- S T INVESTMENT PRIVATE LIMITED [Amalgamated] CIN = U65993WB1990PTC050032

Company & Directors' Information:- K K PRODUCTS LIMITED [Active] CIN = U31300DL1991PLC045521

Company & Directors' Information:- K B PRODUCTS PRIVATE LIMITED [Active] CIN = U51909MH2007PTC169627

Company & Directors' Information:- H. L. INVESTMENT COMPANY LIMITED [Amalgamated] CIN = U65990WB1975PLC128186

Company & Directors' Information:- M M INVESTMENT PRIVATE LIMITED [Converted to LLP] CIN = U65921CT2008PTC020533

Company & Directors' Information:- G. N. G. INVESTMENT LIMITED [Active] CIN = U65910GJ1981PLC004128

Company & Directors' Information:- A S G S INVESTMENT PRIVATE LIMITED [Active] CIN = U74120DL2008PTC173938

Company & Directors' Information:- G L INVESTMENT PVT LTD [Active] CIN = U65993WB1991PTC051072

Company & Directors' Information:- K G PRODUCTS PRIVATE LIMITED [Active] CIN = U51909PB2007PTC031201

Company & Directors' Information:- C & C INVESTMENT LTD [Active] CIN = U67120AS1976PLC001654

Company & Directors' Information:- S S P PRODUCTS PRIVATE LIMITED [Active] CIN = U22110WB1974PTC210201

Company & Directors' Information:- S M S INVESTMENT CORPORATION PRIVATE LIMITED [Active] CIN = U74899DL1963PTC003988

Company & Directors' Information:- V R V INVESTMENT PRIVATE LIMITED [Active] CIN = U67120WB1985PTC039793

Company & Directors' Information:- S P INVESTMENT PVT LTD [Active] CIN = U70109WB1961PTC025099

Company & Directors' Information:- B P INDUSTRIAL CORPN. PVT LTD [Active] CIN = U15312UP1973PTC087037

Company & Directors' Information:- M L B PRODUCTS PRIVATE LIMITED [Active] CIN = U74899DL1990PTC040990

Company & Directors' Information:- R H INVESTMENT PRIVATE LIMITED [Active] CIN = U99999MH1978PTC020633

Company & Directors' Information:- T N B INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1986PTC025590

Company & Directors' Information:- M M PRODUCTS LIMITED [Strike Off] CIN = U28994DL1992PLC050955

Company & Directors' Information:- M P K PRODUCTS PVT LTD [Active] CIN = U26919AS1994PTC004183

Company & Directors' Information:- G K PRODUCTS PRIVATE LIMITED [Active] CIN = U74899DL1991PTC043260

Company & Directors' Information:- A R S INVESTMENT PVT LTD [Active] CIN = U65993WB1990PTC048513

Company & Directors' Information:- N R PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U51109AS1998PTC005561

Company & Directors' Information:- C L PRODUCTS INDIA LIMITED [Active] CIN = U51909DL2002PLC116975

Company & Directors' Information:- K. S. A. PRODUCTS PRIVATE LIMITED [Active] CIN = U51220PB2014PTC039023

Company & Directors' Information:- V P INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1983PTC015714

Company & Directors' Information:- S S WIRE PRODUCTS PRIVATE LIMITED [Active] CIN = U00261JH1997PTC008126

Company & Directors' Information:- D. R. PRODUCTS PRIVATE LIMITED [Active] CIN = U52320DL2011PTC213508

Company & Directors' Information:- A V A INDUSTRIAL CORPN PRIVATE LIMITED [Strike Off] CIN = U29191TZ1956PTC000261

Company & Directors' Information:- S M D INVESTMENT LIMITED [Strike Off] CIN = U65993TN1995PLC033139

Company & Directors' Information:- G R D INVESTMENT PVT LTD [Amalgamated] CIN = U67120WB1980PTC032727

Company & Directors' Information:- R S PRODUCTS PRIVATE LIMITED [Active] CIN = U74899DL1989PTC036603

Company & Directors' Information:- R R PRODUCTS PRIVATE LIMITED [Active] CIN = U24249HR1999PTC034291

Company & Directors' Information:- S K INDIA WIRE PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U27104ML2002PTC006925

Company & Directors' Information:- I G PRODUCTS PRIVATE LIMITED [Active] CIN = U74999WB2012PTC183503

Company & Directors' Information:- C AND N INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1983PTC015710

Company & Directors' Information:- S A WIRE & WIRE INDIA PRIVATE LIMITED [Strike Off] CIN = U51909TN2013PTC093566

Company & Directors' Information:- R INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U65993TZ1988PTC002181

Company & Directors' Information:- H N G L INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1995PTC066774

Company & Directors' Information:- K M S INVESTMENT PRIVATE LIMITED [Active] CIN = U67120UP1993PTC015287

Company & Directors' Information:- U M INVESTMENT PVT LTD [Active] CIN = U70101WB1979PTC032160

Company & Directors' Information:- J S R PRODUCTS PRIVATE LIMITED [Active] CIN = U31908DL2007PTC170841

Company & Directors' Information:- C F C PRODUCTS PRIVATE LIMITED [Active] CIN = U28129DL1998PTC095531

Company & Directors' Information:- A S T INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U67120DL1996PTC082812

Company & Directors' Information:- B N E INVESTMENT LTD [Not available for efiling] CIN = U67120WB1974PLC029360

Company & Directors' Information:- K S J INVESTMENT COMPANY PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC061335

Company & Directors' Information:- M G INVESTMENT AND INDUSTRIAL CO LTD [Not available for efiling] CIN = U99999MH1947PTC007551

Company & Directors' Information:- M S PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U74899DL1993PTC055125

Company & Directors' Information:- B R PRODUCTS PRIVATE LIMITED [Active] CIN = U31909DL1999PTC100727

Company & Directors' Information:- S P B PRODUCTS LIMITED [Active] CIN = U51909DL1996PLC082631

Company & Directors' Information:- G K D PRODUCTS PRIVATE LIMITED [Active] CIN = U15431WB1998PTC086840

Company & Directors' Information:- P T INVESTMENT PVT LTD [Strike Off] CIN = U65999WB1995PTC067065

Company & Directors' Information:- M B R PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U17111WB1993PTC060806

Company & Directors' Information:- K. S. R. INVESTMENT LIMITED [Strike Off] CIN = U65992UP1988PLC010253

Company & Directors' Information:- P D PRODUCTS PRIVATE LIMITED [Active] CIN = U23201DL2000PTC108462

Company & Directors' Information:- S K M PRODUCTS PRIVATE LIMITED [Active] CIN = U18101DL1998PTC093415

Company & Directors' Information:- H R PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U74899DL1978PTC009183

Company & Directors' Information:- WIRE INDIA PRIVATE LIMITED [Strike Off] CIN = U27201BR1988PTC002945

Company & Directors' Information:- THE INDUSTRIAL CORPORATION PRIVATE LIMITED [Active] CIN = U15420MH1921PTC000947

Company & Directors' Information:- G K WIRE PRODUCTS PRIVATE LTD [Active] CIN = U31300DL1984PTC017364

Company & Directors' Information:- V S PRODUCTS PRIVATE LIMITED [Active] CIN = U36900DL2008PTC185445

Company & Directors' Information:- H K PRODUCTS LIMITED [Active] CIN = U51900GJ2015PLC085457

Company & Directors' Information:- S R K PRODUCTS PRIVATE LIMITED [Active] CIN = U51221KA1989PTC010032

Company & Directors' Information:- G M PRODUCTS PRIVATE LIMITED [Active] CIN = U74899DL1991PTC044687

Company & Directors' Information:- V T N PRODUCTS PVT LTD [Active] CIN = U51109WB1996PTC080094

Company & Directors' Information:- J INDUSTRIAL PRODUCTS (INDIA) PRIVATE LIMITED [Active] CIN = U28931MH2008PTC182458

Company & Directors' Information:- J T INVESTMENT PVT LTD [Strike Off] CIN = U65923WB1979PTC032344

Company & Directors' Information:- W S T Q PRODUCTS PRIVATE LIMITED [Active] CIN = U31300DL1999PTC102655

Company & Directors' Information:- J M K PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U24246OR2005PTC008446

Company & Directors' Information:- G S T PRODUCTS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U31909TN2006PTC059575

Company & Directors' Information:- K N WIRE PVT LTD [Active] CIN = U27109WB2005PTC106788

Company & Directors' Information:- S M P PRODUCTS PRIVATE LIMITED [Active] CIN = U25200DL2009PTC190965

Company & Directors' Information:- S N S PRODUCTS PRIVATE LIMITED [Active] CIN = U15490DL2005PTC142749

Company & Directors' Information:- U B PRODUCTS PRIVATE LIMITED [Active] CIN = U51224DL2002PTC116457

Company & Directors' Information:- A AND A PRODUCTS PRIVATE LIMITED [Active] CIN = U21098MP2004PTC017128

Company & Directors' Information:- V J PRODUCTS PRIVATE LIMITED [Active] CIN = U36900GJ2011PTC065252

Company & Directors' Information:- A N WIRE PRIVATE LIMITED [Active] CIN = U28999HR2020PTC090373

Company & Directors' Information:- R K INVESTMENT LTD [Strike Off] CIN = U65993WB1969PLC027398

Company & Directors' Information:- S AND A PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U51311DL1991PTC042938

Company & Directors' Information:- S AND G PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U51909DL1982PTC014843

Company & Directors' Information:- B P PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U24241WB1999PTC089499

Company & Directors' Information:- P K WIRE PRODUCTS P LTD. [Strike Off] CIN = U27204WB1992PTC056613

Company & Directors' Information:- N M G C INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U74899DL1982PTC014603

Company & Directors' Information:- D AND P PRODUCTS LIMITED [Amalgamated] CIN = U99999MH1951PTC008422

Company & Directors' Information:- S D H PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U55204KA2006PTC040734

Company & Directors' Information:- V M PRODUCTS PRIVATE LIMITED [Active] CIN = U24100DL2014PTC266679

Company & Directors' Information:- M N K INDUSTRIAL PRODUCTS PRIVATE LIMITED [Active] CIN = U25199TN1988PTC016438

Company & Directors' Information:- E C A PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U27209TN1987PTC014022

Company & Directors' Information:- T M INVESTMENT CO PVT LTD [Active] CIN = U67120WB1971PTC028172

Company & Directors' Information:- S. A. F. INVESTMENT LIMITED [Active] CIN = U67120DL1997PLC088611

Company & Directors' Information:- D D INDUSTRIAL PRIVATE LIMITED [Active] CIN = U34102DL2006PTC156978

Company & Directors' Information:- H K (INVESTMENT) COMPANY PRIVATE LIMITED [Active] CIN = U65990GJ1950PTC000511

Company & Directors' Information:- P N INVESTMENT PRIVATE LIMITED [Under Liquidation] CIN = U65910GJ1988PTC010715

Company & Directors' Information:- INVESTMENT CORPORATION LIMITED [Under Liquidation] CIN = U65993KL1942PLC000449

Company & Directors' Information:- M M WIRE PRODUCTS PVT LTD. [Strike Off] CIN = U31300WB1989PTC046194

Company & Directors' Information:- S R M INVESTMENT PVT LTD [Strike Off] CIN = U67120WB1979PTC031888

Company & Directors' Information:- A TO Z INVESTMENT PVT LTD [Dissolved] CIN = U67120WB1988PTC044464

Company & Directors' Information:- R J INVESTMENT PRIVATE LIMITED [Active] CIN = U67120MH1976PTC018954

Company & Directors' Information:- B N K INVESTMENT CO PVT LTD [Active] CIN = U65993WB1971PTC028169

Company & Directors' Information:- A D INVESTMENT CO PVT LTD [Active] CIN = U67120WB1971PTC028170

Company & Directors' Information:- T D INVESTMENT CO PVT LTD [Strike Off] CIN = U65921CH1987PTC007637

Company & Directors' Information:- G S PRODUCTS LIMITED [Strike Off] CIN = U25191UP1989PLC010483

Company & Directors' Information:- C G K INVESTMENT P LTD [Strike Off] CIN = U65910AP1986PTC006088

Company & Directors' Information:- L D INVESTMENT COMPANY PVT LTD [Strike Off] CIN = U65921HP1988PTC008425

Company & Directors' Information:- INDUSTRIAL PRODUCTS PVT LTD [Strike Off] CIN = U99999DL1959PTC003139

Company & Directors' Information:- WIRE-O-WIRE PRIVATE LIMITED [Strike Off] CIN = U27101UP1973PTC003827

Company & Directors' Information:- A R K PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U24231UP1978PTC004606

Company & Directors' Information:- S. M. PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U17299DL1966PTC004634

Company & Directors' Information:- G K INVESTMENT PRIVATE LIMITED [Active] CIN = U65993TZ1987PTC001919

Company & Directors' Information:- G V INVESTMENT PRIVATE LIMITED [Active] CIN = U65993TZ1987PTC001920

Company & Directors' Information:- A K INDUSTRIAL CORPORATION (INDIA) PRIVATE LIMITED [Active] CIN = U29130PN2014PTC151053

Company & Directors' Information:- B C K H INVESTMENT CO PVT LTD [Active] CIN = U67120MH1982PTC026819

Company & Directors' Information:- H V INVESTMENT PRIVATE LIMITED [Active] CIN = U67120MH1997PTC107686

Company & Directors' Information:- R. M. R. PRODUCTS PRIVATE LIMITED [Active] CIN = U74999MH2017PTC298120

Company & Directors' Information:- M L INVESTMENT PVT LTD [Strike Off] CIN = U67120WB1979PTC032180

Company & Directors' Information:- M & G WIRE PRIVATE LIMITED [Active] CIN = U28910DL2013PTC258272

Company & Directors' Information:- P & Q PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U51909DL2014PTC269162

Company & Directors' Information:- S & G INVESTMENT COMPANY PRIVATE LIMITED [Active] CIN = U65100DL2012PTC244271

Company & Directors' Information:- S B INVESTMENT PVT LTD [Liquidated] CIN = U99999RJ1959PTC001090

Company & Directors' Information:- R AND P INVESTMENT PVT LTD [Strike Off] CIN = U67120PB1995PTC016124

Company & Directors' Information:- M M B INVESTMENT PRIVATE LIMITED [Active] CIN = U65993RJ1996PTC012698

Company & Directors' Information:- H T PRODUCTS PVT LTD [Strike Off] CIN = U29266WB1981PTC033424

Company & Directors' Information:- M G A INVESTMENT COMPANY PRIVATE LIMITED [Strike Off] CIN = U99999MH1980PTC022406

Company & Directors' Information:- D S N INVESTMENT PVT LTD [Strike Off] CIN = U65993TG1988PTC008554

Company & Directors' Information:- PRODUCTS (INDIA) LTD [Strike Off] CIN = U31901WB1961PLC024991

Company & Directors' Information:- V. I INVESTMENT PVT LTD [Strike Off] CIN = U67120HR1988PTC030206

Company & Directors' Information:- R J P INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U65993GJ1981PTC004678

Company & Directors' Information:- D D P INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U65910GJ1981PTC004695

Company & Directors' Information:- C J P INVESTMENT PVT LTD [Strike Off] CIN = U99999GJ1981PTC004662

Company & Directors' Information:- M PRODUCTS & CO PVT LTD [Strike Off] CIN = U51909WB1956PTC023215

Company & Directors' Information:- M P INVESTMENT CO PRIVATE LIMITED [Under Process of Striking Off] CIN = U65993KA1974PTC002646

Company & Directors' Information:- THE INDUSTRIAL CORPORATION LIMITED [Strike Off] CIN = U00804KA1948PLC000529

Company & Directors' Information:- INVESTMENT COMPANY PRIVATE LIMITED [Dissolved] CIN = U65990KL1946PTC000461

Company & Directors' Information:- WIRE AND WIRE PRODUCTS LIMITED [Dissolved] CIN = U99999MH1941PTC003423

Company & Directors' Information:- INVESTMENT CORPORATION LIMITED [Not available for efiling] CIN = U99999MH1943PLC007730

Company & Directors' Information:- WIRE PRODUCTS LIMITED [Dissolved] CIN = U99999MH1955PLC009606

    S.A.No. 1980 of 2002 & C.M.P.Nos. 16389 & 16950 of 2002

    Decided On, 22 July 2021

    At, High Court of Judicature at Madras

    By, THE HONOURABLE MR. JUSTICE ABDUL QUDDHOSE

    For the Appellants: Abbiraami for M/s. Sarvabhauman Associates, Advocates. For the Respondents: R1, Bijesh Thomas, K.F. Manavalan, Advocates, R2 to R4, No such persons.



Judgment Text

(Prayer:Second Appeal filed under Section 100 CPC, against the Judgment and Decree dated 16.7.1999 made in A.S.No.179 of 1998, on the file of the II Additional District Judge, Coimbatore, reversing the judgment and decree dated 24.8.1998 made in O.S.No.648 of 1994, on the file of the III Additional District Munsif at Coimbatore.)(This case was heard through Video Conferencing)This Second Appeal has been filed challenging the impugned judgment of the Lower Appellate Court viz., II Additional District Court, Coimbatore dated 16.07.1999 passed in A.S.No.179 of 1999 wherein the Lower Appellate Court has reversed the findings of the Trial Court passed in its judgment and decree dated 24.08.1998 in O.S.No.648 of 1994 on the file of the Munsif Court, Coimbatore.2. The Appellants are the plaintiffs in the suit O.S.No.648 of 1994 on the file of the Munsif Court, Coimbatore. They filed a suit against the respondents seeking for a declaration that no amount is due from them to the first respondent/first defendant in its Loan Reference No.C-53 and consequential mandatory injunction was also sought for to direct the first respondent/first defendant to return the original title deeds of the third Appellant/third plaintiff.3. The case of the Appellant/plaintiff before the Trial Court was that though the first defendant sanctioned the loan of Rs.3,60,000/-, they lent only a sum of Rs.2,46,824/- and that too the said sum was paid directly to the seller of the machineries which was purchased by the Appellants/plaintiffs. Therefore, according to them, they had suffered huge loss on account of the breach of contract committed by the respondents/defendants by not granting sanctioned loan amount of Rs.3,60,000/-. In such circumstances, they filed a suit for declaration and for consequential mandatory injunction against the respondents/defendants as stated supra.4. A written statement has been filed by the first respondent/first defendant denying the allegations of the Appellants/plaintiffs. In the written statement, they have pleaded that the loan was granted by them to the Appellants/plaintiffs only for the purpose of purchasing machineries and not for their working capital. According to them, the loan contract entered into between the Appellants and the first defendant also makes it clear that the loan was granted only for the purchase of purchasing machineries and not for their working capital. Since the first respondent/first defendant has paid the value of the machineries purchased by the Appellants/plaintiffs which amounts to Rs.2,46,824/-, they have not committed breach of contract as alleged by the Appellants/plaintiffs.5. The Trial Court framed issues and after trial, decreed the suit in favour of the Appellants/plaintiffs by its judgment and decree dated 24.08.1998 passed in O.S.No.648 of 1994.6. Aggrieved by the same, the respondents/defendants preferred an appeal before the II Additional District Court, Coimbatore in A.S.No.179 of 1998. By judgment and decree dated 16.07.1999 passed in A.S.No.179 of 1998, II Additional District Court, Coimbatore reversed the findings of the Trial Court and allowed the appeal filed by the respondents/defendants on the ground that the suit filed by the Appellants/plaintiffs is barred by law of limitation. According to the Lower Appellate Court, since loan agreement was terminated by the respondents/defendants as per Ex.B14 on 20.01.1990, the suit having been filed only in the year 1994, the suit is barred by law of limitation. 7. The Lower Appellate Court has held that the Appellants/plaintiffs did not take proper steps as against the auctions of the machineries conducted by the respondents/defendants even though two suits were filed by them challenging the suit auctions. The Lower Appellate Court has also held that injunction cannot be granted to loan related suits and hence Trial Court ought not to have granted a decree in favour of the Appellants/plaintiffs.8. Aggrieved by the reversal findings of the Lower Appellate Court in its judgment and decree dated 16.07.1999 passed in A.S.No.179 of 1998, the Appellants/plaintiffs have preferred this Second Appeal. At the time of admission of the Second Appeal on 13.12.2002, this Court formulated the following substantial question of law:“Whether the learned District Judge is correct in law in dismissing the suit by allowing the appeal especially when appellant had established that first respondent committed breach of the terms of the agreement?”.9. Learned counsel for the Appellants Ms.Abbiraami would submit that Ex.B1 loan contract is a reciprocal promise and the first respondent/first defendant failed to perform its part of the contract by lending the sanctioned amount of Rs.3,60,000/- to the Appellants/plaintiffs but instead has lent only Rs.2,46,824/- that too paid directly to the seller of the machineries.10. Learned counsel for the Appellants drew the attention of this Court to the deposition of DW1 and would submit that the first respondent/first defendant's witness (DW1) has himself admitted that the loan was sanctioned for a sum of Rs.3,60,000/- but the said amount was not granted to the Appellants/plaintiffs.11. Learned counsel for the Appellants also drew the attention of this Court to the deposition of DW2 and would submit that he also admitted that the sanctioned loan amount was Rs.3,60,000/- but the said loan amount was not granted its entirety. Therefore, she would submit that the Appellants/plaintiffs have proved that the first respondent/first defendant has committed breach of the loan contract and therefore, the Trial Court has rightly decreed the suit in favour of the Appellants/plaintiffs but the Lower Appellate Court has erroneously reversed the said findings. According to her, the suit was filed within the period of limitation. She would submit that since the machineries were auctioned only in the year 1994, the suit filed by the Appellants/plaintiffs against the respondents/defendants in the year 1994 is well within the period of limitation.12. Learned counsel for the Appellants also drew the attention of this Court to the Lower Appellate Court findings and would submit that Lower Appellate Court has erroneously by total non-application of mind to the evidence available on record has reversed the findings of the Trial Court.13. She has also drew the attention of this Court to the deposition of DW1 and DW2 and would submit that the respondents/defendants have admitted that no money was paid directly to the Appellants/plaintiffs. This being the case, she would submit that the Appellants/plaintiffs cannot be made liable to pay any further sums to the respondents/defendants.14. Per contra, Mr.Bijesh Thomas, learned counsel for the respondents would submit that under Ex.B1 dated 15.06.1987, loan was granted to the Appellants/plaintiffs by the respondents/defendants only for the purpose of purchasing machineries and not for their working capital. Since the value of the machineries purchased by the Appellants/plaintiffs was Rs.2,46,824/-, the first respondent had lent only that amount. Therefore, he would submit that there is no breach of contract committed by the respondents/defendants as alleged by the Appellants/defendants.15. He would also submit that the Lower Appellate Court has rightly reversed the findings of the Trial Court by holding the suit filed by the Appellants/plaintiffs is barred by law of limitation. According to him, the loan contract was terminated on 20.01.1990 under Ex.B14 but the suit was filed only in the year 1994 and therefore, the Lower Appellate Court rightly reversed the findings of the Trial Court by holding that the suit is barred by law of limitation.16. Before the Trial Court, the Appellants/plaintiffs have filed 3 documents which were marked as Exs.P1 to P3, namely (a) Registration Certificate of the Appellants/plaintiff's Company, (b) Legal Notice sent by the Appellants/plaintiffs counsel to the respondents/defendants and (c) Reply dated 25.02.1993 sent by the respondents/defendants to the Appellants/plaintiff's counsel.17. On the side of the Appellants/plaintiffs, the third Appellant/third plaintiff was examined as the only witness (PW1). On the side of the respondents/defendants, 26 documents were filed which were marked as Exs.B1 to B26 which included the loan contract entered into between the Appellants/plaintiffs and the respondents/defendants (Ex.B1) and the termination letter which was also marked as exhibit and two witnesses were examined viz., DW1 and DW2.18. As seen from the evidence available on record, without demur, the Appellants/plaintiffs have accepted the loan of Rs.2,46,824/- from the respondents/defendants instead of Rs.3,60,000/- which the Appellants/plaintiffs claim was the sanctioned amount. The loan was disbursed by the respondents/defendants in the year 1987 and was directly paid to the seller of the machineries from whom Appellants/plaintiffs purchased.19. Excepting for filing 3 documents which have been marked as exhibits as referred to supra, the Appellants/plaintiffs have not filed any documents to show that immediately after the disbursement of the loan amount in the year 1987, they had protested to the respondents/defendants about the lesser loan amount disbursed to them.20. The Suit O.S.No.648 of 1998 before the District Munsif Court, Coimbatore was filed seeking for a declaration that no money is due and payable by the Appellants/plaintiffs to the respondents/defendants and in the same suit, a consequential mandatory injunction has also been sought for to direct the first respondent/first defendant to return the original title deeds of the third Appellant/third plaintiff.21. The Trial Court in its judgment and decree dated 24.08.1998 has erroneously based on the deposition of DW2 that the full loan amount was not given to the Appellants/plaintiffs has given a finding that no amount is due and payable by the Appellants/plaintiffs to the respondents/defendants.22. The Trial Court has also erroneously held that since machineries were repossessed by the respondents/defendants from the Appellants/plaintiffs, the Appellants/plaintiffs are entitled for a decree as prayed for in the suit. The findings of the Trial court are erroneous for the following reasons:(a) As seen from Ex.B1 (Loan Contract), the loan was given by the respondents/defendants to the Appellants/plaintiffs for the purpose of purchasing the machineries and not for their working capital.(b) The relevant clause in Ex.B1 (Loan Contract) makes it clear that the amount was sanctioned by the respondent/defendants to the Appellants/plaintiffs only for the purpose of purchasing the machineries and with regard to working capital, the Appellants/plaintiffs will have to make their own arrangement.(c) A consistent stand has also been taken by the respondents/defendants before the Courts below that they are not liable to lent money under the contract for the working capital needs of the Appellants/plaintiffs. The written statement filed by the respondents/defendants also supports the said consistent stand. (d) Admittedly, the loan was granted in the year 1987 by the respondents/defendants in favour of the Appellants/plaintiffs. If the Appellants/plaintiffs are aggrieved by the disbursement of a lesser loan amount than what was agreed upon, the Appellants/plaintiffs would have raised protest with the respondents/defendants. But as seen from the evidence available on record, no such protest letter was issued by the Appellants/plaintiffs to the respondents/defendants for non-disbursement of the entire loan of Rs.3,60,000/-.(e) Admittedly, the Appellants/plaintiffs have not repaid the loan to the respondents/defendants in accordance with the loan contract marked as Ex.B1 before the Tribunal.(f) In view of the default and in accordance with the terms and conditions of the loan contract, the respondents/defendants have repossessed the machineries from the Appellants/plaintiffs and thereafter have made attempts to auction the said machineries. Having lent a sum of Rs.2,46,824/- towards purchase of machineries at the request of the Appellants/plaintiffs, the respondents/defendants cannot be prevented from taking any legal action in accordance with the terms and conditions of the loan contract (Ex.B1).(g) The Lower Appellate Court by its judgment and decree dated 16.07.1999 in A.S.No.179 of 1998 has rightly reversed the findings of the Trial Court by holding that the suit O.S.No.648 of 1994 filed by the Appellants/plaintiffs is barred by law of limitation. The Lower Appellate Court has given a finding that the loan contract was terminated by the respondents/defendants under Ex.B14 on 20.01.1990 which has also not been disputed by the Appellants/plaintiffs as seen from the evidence available on record.(h)The Lower Appellate Court has also rightly held that since suit has not been filed within a period of 3 years from 20.01.1990 being the date of the termination letter, the suit is barred by law of limitation. 23. This Court is in agreement with the findings of the Lower Appellate Court and does not find any perversity in the said findings with regard to the consequential injunction also which was earlier granted by the Trial Court. The Lower Appellate Court has held that injunction cannot be granted to loa

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n related suits. Though there cannot be any such blanket order and grant of injunction in a money related transaction depends upon facts and circumstances of each and every case, since this Court is in agreement with the findings of the Lower Appellate Court that the suit is barred by law of limitation, no necessity has arisen for this Court to give its point of view with regard to the finding of the Lower Appellate Court that injunction cannot be granted to loan related suits.24. The Lower Appellate Court has rightly considered the evidence available on record and has rightly reversed the findings of the Trial Court by allowing the appeal filed by the respondents/defendants. This Court does not find any perversity in the findings of the Lower Appellate Court as the findings of the Lower Appellate Court are based on the materials and evidence available on record and is in accordance with law and there are no debatable question of law involved in this Second Appeal.25. For the foregoing reasons, the substantial questions of law formulated by this Court on 13.12.2002 at the time of Second Appeal is answered against the Appellants/plaintiffs as there is no substantial questions of law involved in this appeal as the issues raised by the Appellants have been adequately and correctly considered by the Lower Appellate Court in accordance with law.26. In the result, the Second Appeal is dismissed with costs. Consequently, connected miscellaneous petitions are closed.
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