w w w . L a w y e r S e r v i c e s . i n



R. Ravinderkumar, Rep. by his power of attorney R. Nihhaal v/s M/s. Indostar Capital Finance Ltd., Mumbai & Others


Company & Directors' Information:- U. P. POWER CORPORATION LIMITED [Active] CIN = U32201UP1999SGC024928

Company & Directors' Information:- POWER FINANCE CORPORATION LIMITED [Active] CIN = L65910DL1986GOI024862

Company & Directors' Information:- D B POWER LIMITED [Active] CIN = U40109MP2006PLC019008

Company & Directors' Information:- L & T FINANCE LIMITED [Amalgamated] CIN = U65990MH1994PLC083147

Company & Directors' Information:- INDIA POWER CORPORATION LIMITED [Active] CIN = L40105WB1919PLC003263

Company & Directors' Information:- INDIA POWER CORPORATION LIMITED [Amalgamated] CIN = U40101WB2003PLC097340

Company & Directors' Information:- S P FINANCE PRIVATE LIMITED [Active] CIN = U65990MH1979PTC021790

Company & Directors' Information:- CAPITAL INDIA FINANCE LIMITED [Active] CIN = L74899DL1994PLC128577

Company & Directors' Information:- V L S FINANCE LIMITED [Active] CIN = L65910DL1986PLC023129

Company & Directors' Information:- B L A POWER PRIVATE LIMITED [Active] CIN = U40102MH2006PTC165430

Company & Directors' Information:- INDOSTAR CAPITAL FINANCE LIMITED [Active] CIN = U65100MH2009PLC268160

Company & Directors' Information:- A. K. CAPITAL FINANCE PRIVATE LIMITED [Active] CIN = U51900MH2006PTC214277

Company & Directors' Information:- INDOSTAR CAPITAL FINANCE LIMITED [Active] CIN = U51909MH2009PLC268160

Company & Directors' Information:- L V S POWER PRIVATE LIMITED [Active] CIN = U40100TG1996PTC023552

Company & Directors' Information:- S L S POWER CORPORATION LIMITED [Active] CIN = U40109AP2005PLC047008

Company & Directors' Information:- S L V POWER PRIVATE LIMITED [Active] CIN = U40102KA2002PTC030448

Company & Directors' Information:- S. E. POWER LIMITED [Active] CIN = L40106GJ2010PLC091880

Company & Directors' Information:- E O S POWER INDIA PRIVATE LIMITED [Active] CIN = U32109MH1985PTC037094

Company & Directors' Information:- L & T CAPITAL COMPANY LIMITED [Active] CIN = U67190MH2000PLC125653

Company & Directors' Information:- L R N FINANCE LIMITED [Active] CIN = U65921TN1992PLC089288

Company & Directors' Information:- S M FINANCE LTD [Active] CIN = L65999TG1984PLC004526

Company & Directors' Information:- J R D FINANCE LTD [Active] CIN = L65999WB1993PLC058107

Company & Directors' Information:- B R D FINANCE LIMITED [Active] CIN = U65910KL1995PLC009430

Company & Directors' Information:- T C I FINANCE LIMITED [Active] CIN = U65920MH1973PLC017042

Company & Directors' Information:- A. V. B. FINANCE PRIVATE LIMITED. [Active] CIN = U65993DL1992PTC049818

Company & Directors' Information:- S M L FINANCE LIMITED [Active] CIN = U65910KL1996PLC010648

Company & Directors' Information:- B. P. CAPITAL LIMITED [Active] CIN = L74899DL1994PLC057572

Company & Directors' Information:- B. P. CAPITAL LIMITED [Active] CIN = L74899HR1994PLC072042

Company & Directors' Information:- D C POWER LIMITED [Strike Off] CIN = U40109TG1996PLC025996

Company & Directors' Information:- H AND W CAPITAL PRIVATE LIMITED [Active] CIN = U67120DL1998PTC092955

Company & Directors' Information:- K M CAPITAL LIMITED [Active] CIN = L65910DL1992PLC048421

Company & Directors' Information:- S B FINANCE PVT LTD [Strike Off] CIN = U65921TG1988PTC008268

Company & Directors' Information:- R. L. CAPITAL PRIVATE LIMITED [Active] CIN = U17120MH1992PTC066895

Company & Directors' Information:- INDIA FINANCE LTD. [Active] CIN = L65110WB1984PLC050214

Company & Directors' Information:- J J FINANCE CORPORATION LTD [Active] CIN = L65921WB1982PLC035092

Company & Directors' Information:- G V S FINANCE PVT LTD [Strike Off] CIN = U65921TG1988PTC008269

Company & Directors' Information:- G T P FINANCE LIMITED [Active] CIN = U65921TZ1991PLC003149

Company & Directors' Information:- A. K. CAPITAL CORPORATION PRIVATE LIMITED [Active] CIN = U65993MH2006PTC165749

Company & Directors' Information:- POWER CORPORATION OF INDIA LIMITED [Amalgamated] CIN = U50101WB1997PLC084060

Company & Directors' Information:- S R K FINANCE PRIVATE LIMITED [Active] CIN = U65910UP1994PTC016038

Company & Directors' Information:- P H CAPITAL LIMITED [Active] CIN = L74140MH1973PLC016436

Company & Directors' Information:- G C B CAPITAL FINANCE PRIVATE LIMITED [Active] CIN = U74899DL1994PTC061459

Company & Directors' Information:- R N FINANCE LIMITED [Active] CIN = U74899DL1988PLC034289

Company & Directors' Information:- J R D FINANCE LTD [Active] CIN = U65999WB1993PLC058107

Company & Directors' Information:- C K G FINANCE PRIVATE LIMITED [Active] CIN = U65910KL1996PTC010147

Company & Directors' Information:- L N FINANCE LTD [Active] CIN = U65923WB1991PLC052876

Company & Directors' Information:- R K FINANCE LTD [Active] CIN = L65921WB1983PLC035896

Company & Directors' Information:- H K S CAPITAL AND FINANCE LIMITED [Active] CIN = U74899DL1994PLC060896

Company & Directors' Information:- V P C L FINANCE LIMITED [Active] CIN = U65920TG1996PLC023172

Company & Directors' Information:- B V POWER PRIVATE LIMITED [Active] CIN = U40106DL2011PTC213428

Company & Directors' Information:- J S M FINANCE PVT LTD [Active] CIN = U74140MP1995PTC009542

Company & Directors' Information:- I B CAPITAL PRIVATE LIMITED [Active] CIN = U65993GJ2011PTC065780

Company & Directors' Information:- I & D FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1991PTC021369

Company & Directors' Information:- I 5 CAPITAL PRIVATE LIMITED [Active] CIN = U65990TN2015PTC101551

Company & Directors' Information:- S K R FINANCE AND CAPITAL PRIVATE LIMITED [Amalgamated] CIN = U74899UP1994PTC083206

Company & Directors' Information:- R AND H POWER COMPANY PRIVATE LIMITED [Active] CIN = U51109UP1965PTC003067

Company & Directors' Information:- L N FINANCE PVT LTD [Active] CIN = U65929AS1992PTC003766

Company & Directors' Information:- N B A FINANCE LIMITED [Strike Off] CIN = U74899DL1993PLC052393

Company & Directors' Information:- T P D FINANCE LIMITED [Strike Off] CIN = U67120RJ1994PLC008051

Company & Directors' Information:- R G L FINANCE COMPANY PRIVATE LIMITED [Active] CIN = U74899DL1983PTC015809

Company & Directors' Information:- S K B FINANCE LIMITED [Amalgamated] CIN = U65999WB1996PLC082317

Company & Directors' Information:- B R POWER LTD [Active] CIN = U40106WB1995PLC073567

Company & Directors' Information:- J V FINANCE PRIVATE LIMITED [Strike Off] CIN = U74899DL1985PTC067873

Company & Directors' Information:- N M S POWER PRIVATE LIMITED [Active] CIN = U51109WB1999PTC089747

Company & Directors' Information:- L C J FINANCE PVT. LTD. [Active] CIN = U65921WB1995PTC068809

Company & Directors' Information:- H M CAPITAL FINANCE LTD [Active] CIN = U65921AS1951PLC001000

Company & Directors' Information:- H L T FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921DL1996PTC078128

Company & Directors' Information:- G R CAPITAL AND FINANCE PRIVATE LIMITED [Strike Off] CIN = U99999MH1996PTC100283

Company & Directors' Information:- S E R CAPITAL PRIVATE LIMITED [Active] CIN = U65921MH1998PTC116812

Company & Directors' Information:- P R B POWER PRIVATE LIMITED [Strike Off] CIN = U40101TG1995PTC020647

Company & Directors' Information:- R N C P FINANCE LTD. [Dissolved] CIN = U67120WB1995PLC072339

Company & Directors' Information:- T T FINANCE LIMITED [Amalgamated] CIN = U67120DL1986PLC023168

Company & Directors' Information:- S V G POWER PRIVATE LIMITED [Active] CIN = U40300AP2012PTC084435

Company & Directors' Information:- P. K. A. CAPITAL PRIVATE LIMITED [Active] CIN = U74899DL1995PTC074137

Company & Directors' Information:- M M V R FINANCE LIMITED [Active] CIN = U65921TZ1997PLC007705

Company & Directors' Information:- D B FINANCE PRIVATE LIMITED [Active] CIN = U65191TN1989PTC016705

Company & Directors' Information:- C H P FINANCE PVT LTD [Active] CIN = U65921PB1992PTC012788

Company & Directors' Information:- J R B CAPITAL FINANCE PRIVATE LIMITED [Converted to LLP] CIN = U67120RJ1994PTC008605

Company & Directors' Information:- S L B P FINANCE PRIVATE LIMITED [Active] CIN = U74899DL1990PTC041694

Company & Directors' Information:- R S FINANCE PVT LTD [Active] CIN = U65191WB1988PTC044144

Company & Directors' Information:- R S N CAPITAL PRIVATE LIMITED [Strike Off] CIN = U65924HR2012PTC045875

Company & Directors' Information:- A J CAPITAL LIMITED [Active] CIN = U74899DL1995PLC072149

Company & Directors' Information:- I C FINANCE PRIVATE LIMITED [Active] CIN = U65921UP1989PTC011236

Company & Directors' Information:- V K FINANCE PVT LTD [Strike Off] CIN = U67120WB1991PTC052140

Company & Directors' Information:- INDIA POWER PRIVATE LIMITED [Active] CIN = U31900DL1995PTC070096

Company & Directors' Information:- C AND N FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921DL1998PTC094290

Company & Directors' Information:- C D R FINANCE LIMITED [Strike Off] CIN = U65910TG1995PLC022237

Company & Directors' Information:- J R FINANCE LIMITED [Active] CIN = U65921PB1996PLC017699

Company & Directors' Information:- I C S FINANCE LIMITED [Strike Off] CIN = U65921TZ1987PLC001991

Company & Directors' Information:- M POWER INDIA PRIVATE LIMITED [Active] CIN = U31908MH2012PTC234343

Company & Directors' Information:- T J R FINANCE LIMITED [Under Process of Striking Off] CIN = U65910GJ1995PLC025753

Company & Directors' Information:- CAPITAL LTD [Active] CIN = U65993WB1956PLC001592

Company & Directors' Information:- D D S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65910DL1996PTC076165

Company & Directors' Information:- K V L FINANCE LIMITED [Strike Off] CIN = U65191TN1989PLC016715

Company & Directors' Information:- D A S FINANCE PVT LIMITED [Strike Off] CIN = U65921PB1993PTC012888

Company & Directors' Information:- U B FINANCE PRIVATE LIMITED [Strike Off] CIN = U74899DL1992PTC051300

Company & Directors' Information:- V L G FINANCE PRIVATE LIMITED [Strike Off] CIN = U65910AP1997PTC027952

Company & Directors' Information:- E M S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921TZ1986PTC001789

Company & Directors' Information:- T D M FINANCE COMPANY PRIVATE LIMITED [Active] CIN = U65923KL1997PTC011601

Company & Directors' Information:- S. F. FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65921PB1996PTC018702

Company & Directors' Information:- D S L FINANCE PRIVATE LIMITED [Active] CIN = U65921TG1996PTC023898

Company & Directors' Information:- R D P FINANCE PRIVATE LIMITED [Active] CIN = U65929DL1997PTC089092

Company & Directors' Information:- S R K C FINANCE LIMITED [Amalgamated] CIN = U65999TZ1989PLC002445

Company & Directors' Information:- R K N FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1997PTC038377

Company & Directors' Information:- H A FINANCE PRIVATE LIMITED [Strike Off] CIN = U65993DL1987PTC027064

Company & Directors' Information:- B H G FINANCE PVT LTD [Strike Off] CIN = U65921PB1988PTC008273

Company & Directors' Information:- V V A FINANCE LTD [Active] CIN = U65993WB1984PLC037171

Company & Directors' Information:- Y B FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921CH1996PTC017745

Company & Directors' Information:- A N S INDIA POWER PRIVATE LIMITED [Active] CIN = U51101DL2014PTC266873

Company & Directors' Information:- D G L FINANCE LTD [Strike Off] CIN = U67120TG1993PLC015604

Company & Directors' Information:- T AND T CAPITAL PRIVATE LIMITED [Active] CIN = U67120TG2020PTC142533

Company & Directors' Information:- M M K POWER PRIVATE LIMITED [Strike Off] CIN = U40106AP1998PTC030796

Company & Directors' Information:- M S R FINANCE PVT LTD [Strike Off] CIN = U65191TN1989PTC016789

Company & Directors' Information:- S S P FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1987PTC014526

Company & Directors' Information:- C R E M POWER PRIVATE LIMITED [Strike Off] CIN = U40101DL2001PTC111631

Company & Directors' Information:- D T POWER PRIVATE LIMITED [Strike Off] CIN = U40300AP2015PTC097226

Company & Directors' Information:- O L G POWER P LTD [Active] CIN = U30007TN1991PTC020898

Company & Directors' Information:- C R N FINANCE PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC062802

Company & Directors' Information:- I FINANCE COMPANY LIMITED [Active] CIN = U67110DL2011PLC212268

Company & Directors' Information:- G S POWER LIMITED [Strike Off] CIN = U40102KA2010PLC054033

Company & Directors' Information:- M R CAPITAL PRIVATE LIMITED [Active] CIN = U65921DL1996PTC075492

Company & Directors' Information:- POWER AND POWER PVT LTD [Active] CIN = U31300AS1989PTC003282

Company & Directors' Information:- H AND Z FINANCE PRIVATE LIMITED [Active] CIN = U67190MH1995PTC093153

Company & Directors' Information:- P D M POWER PRIVATE LIMITED [Active] CIN = U40104AS2014PTC011780

Company & Directors' Information:- Y AND K FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U74899DL1985PTC019837

Company & Directors' Information:- S B S POWER PRIVATE LIMITED [Strike Off] CIN = U40100AP2012PTC083965

Company & Directors' Information:- S L P FINANCE PRIVATE LTD. [Strike Off] CIN = U65923DL1985PTC021970

Company & Directors' Information:- V M FINANCE LIMITED [Strike Off] CIN = U65910PB1996PLC018339

Company & Directors' Information:- D S K FINANCE LIMITED [Strike Off] CIN = U65910UP1988PLC010317

Company & Directors' Information:- G B V FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65110UP1988PTC010219

Company & Directors' Information:- B H FINANCE PRIVATE LIMITED [Strike Off] CIN = U65922KA1995PTC018390

Company & Directors' Information:- M .R .S . FINANCE LIMITED [Strike Off] CIN = U65929DL1995PLC067184

Company & Directors' Information:- H D FINANCE LTD [Strike Off] CIN = U67120DL1986PLC023675

Company & Directors' Information:- E B F FINANCE LIMITED [Under Liquidation] CIN = U65993TG1983PLC003925

Company & Directors' Information:- P R K FINANCE P LTD [Strike Off] CIN = U65191TN1995PTC033478

Company & Directors' Information:- B & G POWER LIMITED [Active] CIN = U40105PB2010PLC033765

Company & Directors' Information:- M G M CAPITAL LIMITED [Strike Off] CIN = U67120RJ1995PLC009482

Company & Directors' Information:- T AND C FINANCE LIMITED [Strike Off] CIN = U67120RJ1996PLC012576

Company & Directors' Information:- S POWER PRIVATE LIMITED [Active] CIN = U19202DL1986PTC026505

Company & Directors' Information:- G M POWER PRIVATE LIMITED [Strike Off] CIN = U40105PN2003PTC017857

Company & Directors' Information:- W S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65192UP1996PTC020243

Company & Directors' Information:- S A C FINANCE COMPANY PVT LTD [Active] CIN = U65999WB1985PTC039002

Company & Directors' Information:- POWER INDIA PVT LTD [Strike Off] CIN = U31102WB1983PTC036315

Company & Directors' Information:- S AND S POWER PRIVATE LIMITED [Active] CIN = U40109PY2004PTC001824

Company & Directors' Information:- B G S CAPITAL PRIVATE LIMITED [Strike Off] CIN = U74140PB2011PTC034703

Company & Directors' Information:- U S POWER PRIVATE LIMITED [Under Process of Striking Off] CIN = U40103MH2009PTC189364

Company & Directors' Information:- J L CAPITAL PRIVATE LIMITED [Strike Off] CIN = U67120DL1996PTC079840

Company & Directors' Information:- K P M POWER PRIVATE LIMITED [Strike Off] CIN = U40102KA2008PTC046804

Company & Directors' Information:- C C FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1997PTC037805

Company & Directors' Information:- S R B FINANCE LIMITED [Strike Off] CIN = U65910UP1988PLC010045

Company & Directors' Information:- P V FINANCE PRIVATE LIMITED [Strike Off] CIN = U65993DL1987PTC027270

Company & Directors' Information:- R V S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65990KA1995PTC018436

Company & Directors' Information:- C R M CAPITAL FINANCE PVT. LTD [Strike Off] CIN = U67120RJ1994PTC008233

Company & Directors' Information:- P AND B FINANCE PVT LTD [Strike Off] CIN = U99999MH1986PTC038841

Company & Directors' Information:- B B P FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65921PB1996PTC018183

Company & Directors' Information:- POWER-X PRIVATE LIMITED [Strike Off] CIN = U99999DL1970PTC005331

Company & Directors' Information:- T G C FINANCE CO. PVT LTD [Strike Off] CIN = U65993HR1993PTC032133

Company & Directors' Information:- S K POWER INDIA PRIVATE LIMITED [Strike Off] CIN = U31101KA2006PTC039172

Company & Directors' Information:- A E FINANCE PRIVATE LIMITED [Active] CIN = U65999TZ1990PTC002905

Company & Directors' Information:- R G D POWER PRIVATE LIMITED [Strike Off] CIN = U41000TG1996PTC023809

Company & Directors' Information:- L R FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65910UP1988PTC009758

Company & Directors' Information:- S B M FINANCE LIMITED [Strike Off] CIN = U65921PB1994PLC014374

Company & Directors' Information:- T A S FINANCE PVT LTD [Strike Off] CIN = U65191TN1990PTC018654

Company & Directors' Information:- M M R POWER PRIVATE LIMITED [Active] CIN = U31104DL2008PTC174079

Company & Directors' Information:- D AND O FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U74899DL1993PTC054788

Company & Directors' Information:- S J POWER PRIVATE LIMITED [Strike Off] CIN = U45207HR2012PTC045937

Company & Directors' Information:- H R P FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921PB1995PTC015715

Company & Directors' Information:- P T R FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1989PTC016795

Company & Directors' Information:- B & S FINANCE PVT LTD [Strike Off] CIN = U65191TN1988PTC015491

Company & Directors' Information:- T C POWER PRIVATE LIMITED [Strike Off] CIN = U40101PB2009PTC033405

Company & Directors' Information:- H S B FINANCE PVT LTD [Strike Off] CIN = U67120RJ1996PTC012119

Company & Directors' Information:- H. & T. POWER PRIVATE LIMITED [Active] CIN = U40106MH2016PTC287646

Company & Directors' Information:- S & O POWER PRIVATE LIMITED [Active] CIN = U40107MH2010PTC206447

Company & Directors' Information:- V D M-POWER PRIVATE LIMITED [Active] CIN = U74999MH2015PTC262999

Company & Directors' Information:- A C R POWER PRIVATE LIMITED [Strike Off] CIN = U74900UP2010PTC040987

Company & Directors' Information:- W N POWER PRIVATE LIMITED [Strike Off] CIN = U40101JK2013PTC004009

Company & Directors' Information:- L G & S CAPITAL PRIVATE LIMITED [Strike Off] CIN = U67110KA2013PTC068873

Company & Directors' Information:- C K S POWER PRIVATE LIMITED [Strike Off] CIN = U40101KA2010PTC052199

Company & Directors' Information:- G C I POWER PRIVATE LIMITED [Active] CIN = U40107KA2010PTC053656

Company & Directors' Information:- R. C. POWER PRIVATE LIMITED [Strike Off] CIN = U40100GJ2009PTC058005

Company & Directors' Information:- J R J POWER PRIVATE LIMITED [Active] CIN = U40300GJ2015PTC082396

Company & Directors' Information:- M. J. S. FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65921PB1971PTC003049

Company & Directors' Information:- A R FINANCE PVT LTD [Strike Off] CIN = U65921PB1989PTC009778

Company & Directors' Information:- K G FINANCE LIMITED [Strike Off] CIN = U65910TZ1982PLC001219

Company & Directors' Information:- S AND Z FINANCE PRIVATE LIMITED [Strike Off] CIN = U65923PN1997PTC106520

Company & Directors' Information:- H S N FINANCE PVT LTD [Strike Off] CIN = U67120PB1993PTC013900

Company & Directors' Information:- G N FINANCE PVT LTD [Strike Off] CIN = U65990MH1981PTC024294

Company & Directors' Information:- D V N POWER PRIVATE LIMITED [Strike Off] CIN = U40101TG2007PTC053069

Company & Directors' Information:- A. R. POWER PRIVATE LIMITED [Strike Off] CIN = U74999DL2007PTC161616

Company & Directors' Information:- C S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65910GJ1987PTC009799

    Original Side Appeal No. 131 of 2021 & CMP. No. 5926 of 2021

    Decided On, 29 March 2021

    At, High Court of Judicature at Madras

    By, THE HONOURABLE MR. JUSTICE T.S. SIVAGNANAM & THE HONOURABLE MS.JUSTICE R.N. MANJULA

    For the Appellant: Mukund Rao for M/s. Eswar Kumar, Rao, Advocates. For the Respondents: ---



Judgment Text

(Prayer: Appeal under Order XXXVI Rule 1 of the Original Side Rules read with Clause 15 of the Letters Patent and under Section 13 of the Commercial Courts Act, 2015 against the order dated 08.3.2021 made in Appln.No.653 of 2021 in C.S.(Comm.Div.) No.733 of 2019.)T.S. Sivagnanam, J.1. This appeal filed by the plaintiff in C.S.(Comm.Div.)No.733 of 2019 is directed the order dated 08.3.2021 in A.No.653 of 2021 in C.S.(Comm.Div.) No.733 of 2019.2. We have elaborately heard Mr.Mukund Rao, learned counsel appearing for M/s.Eswar, Kumar and Rao, learned counsel on record for the appellant.3. The appellant filed the said suit in December 2019 against respondents 2 to 4 herein seeking judgment and decree(i) directing the defendants to jointly and severally pay the plaintiff a sum of Rs.1,28,84,072/- along with further interest at the rate of 2.70% per month on Rs.80,00,000/- from the date of filing the suit until the actual date of realization;(ii) directing the defendants to jointly and severally pay the plaintiff a sum of Rs.90,80,880/- along with further Interest at 2.70% per month on Rs.50,00,000/- from the date of filing the suit until the actual date of realization;(iii) directing the defendants to jointly and severally pay the plaintiff a sum of Rs.1,39,09,077/- along with further interest at the rate of 2.90% per month on Rs.1,05,00,000/- from the date of filing the suit until the actual date of realization;(iv) directing the defendants to jointly and severally pay damages to the plaintiff a sum of Rs.25,00,000/- along with further interest at the rate of 2.70% per month from the date of filing the suit until the actual date of realization; and(v) directing the defendant to pay costs of the suit.4. In the said suit, the appellant/plaintiff filed two applications namely (i) O.A.No.1171 of 2019 to grant an order of interim injunction to restrain respondents 2 to 4 herein/defendants or their agents from alienating or encumbering in any manner their properties mentioned in the schedule to the Judges summons pending disposal of the suit; and (ii) A.No.9876 of 2019 to direct respondents 2 to 4 herein/defendants to jointly and severally furnish security for a sum of Rs.3,83,74,028/-, failing which, for an order of attachment before judgment of immovable properties belong to respondents 2 to 4 herein/defendants more fully described in the schedule to the Judges summons.5. The learned Single Judge, by two separate orders, both dated 30.12.2019, (i) in A.No.9876 of 2019, directed the second respondent herein/first defendant to furnish security to the tune of the suit claim for a sum of Rs.3,83,74,028/- on or before 13.1.2020 and directed the application to be listed on 13.1.2020; and (ii) in O.A.No.1171 of 2019, granted an order of interim injunction restraining respondents 2 to 4 herein/defendants from alienating the schedule mentioned properties till 13.1.2020 and ordered notice to the respondents returnable by 13.1.2020. Subsequently, both the applications came up for hearing on 13.1.2020 and the order of injunction granted on 30.12.2019 was extended till 22.1.2020 and both the applications were directed to be listed on 22.1.2020. Further on 22.1.2020, the order of interim injunction granted in O.A.No.1171 of 2019 was extended until further orders of this Court and both the applications were directed to be listed on 19.2.2020.6. By order dated 19.2.2020 in A.No.9876 of 2019, the learned Single Judge granted an order of attachment before judgment of A schedule property belonging to the first defendant/second respondent herein, who was stated to be the principal borrower.7. In the meantime, the first respondent herein filed an application in A.No.2756 of 2020 seeking to implead themselves as a party to the said suit. Subsequently, they also filed A.No.653 of 2021 seeking to raise the order of attachment dated 19.2.2020 in A.No.9876 of 2019. The learned Single Judge, by the impugned order dated 08.3.2021, allowed A.No.653 of 2021 filed by the first respondent herein and raised the attachment in respect of A schedule property. Aggrieved by that, the plaintiff is before us by way of this appeal.8. We have carefully perused the material papers placed before this Court. We are of the firm view that the learned Single Judge was right in raising the order of attachment. We support our conclusion with the following reasons :As mentioned earlier, the appellant/plaintiff laid the said suit before the Commercial Division of this Court sometime during December 2019 stating that the defendants/respondents 2 to 4 herein are due and liable to pay him various amounts. The first defendant/ second respondent herein is stated to be the principal borrower and defendants 2 and 3/respondents 3 and 4 herein are stated to be the guarantors. The appellant/plaintiff pleads that there were financial transactions between the plaintiff and the first defendant/second respondent for several years and several mortgages were done in respect of different properties. The loans were settled, the mortgage deeds were canceled and the financial dealings were going on for a considerable period of time and in the last of such borrowals, the first defendant/second respondent herein defaulted in repayment, which necessitated the appellant to approach this Court and file a suit.9. It is the further case of the appellant/plaintiff that if the attachment is raised, then he would be put to great prejudice and he would be unable to realize the fruits of the decree in the event of success in the suit. The first respondent herein, which had filed the application to raise the attachment, is taking effective steps to bring the property in question to sale and consequent to the impugned order, the entry in the office of the Sub-Registrar concerned would be canceled and the appellant/plaintiff would be put to irreparable hardship. He ultimately prayed for restoring the order of attachment.10. We have carefully considered the submissions of the learned counsel for the appellant/plaintiff and perused the stand taken by the first respondent herein before the learned Single Judge.11. The first respondent herein is a financial organization with registered office at Mumbai. They would state that respondents 2 to 4 herein namely the defendants approached the first respondent on 23.8.2017 for a loan against properties situated in Tiruvanmiyur village described in the schedule for a sum of Rs.2.60 crores. The third respondent herein agreed to stand as a guarantor as he is the owner of the schedule mentioned property. Thereafter, the first respondent herein sanctioned the loan vide letter dated 23.8.2017 and as per the terms and conditions of the said sanction letter, documents were executed in favour of the first respondent to secure the loan transaction. In terms of the sanction, they were required to repay the loan along with interest as per the guidelines of the Reserve Bank of India and the third respondent herein executed an agreement for deposit of title deeds, which were duly registered before the Sub-Registrar, Neelankarai as doc.No.6521 of 2017 creating equitable mortgage pertaining to the schedule property and all other documents were executed by the borrower and the guarantors including indemnity bond, demand promissory note, etc in favour of the first respondent herein.12. Thus, the first respondent herein stated that the title deeds of the property are with them and by virtue of the equitable mortgage executed in their favour, a security interest has been created over the property in question in favour of the first respondent in the year 2017 itself. It has been further stated that after availing the loan, the second respondent herein namely the borrower was irregular in repayment of instalments and failed to fulfill the repayment schedule.13. Consequently, their loan account became a Non Performing Asset (NPA) and the first respondent herein issued a notice dated 09.10.2019 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity, the SARFAESI Act) calling upon the borrowers to pay a sum of Rs.2,69,45,232/-. The said notice was also published in two leading English and vernacular newspapers on 22.10.2019. After issuance of the said notice and following due procedure, symbolic possession of the schedule property was taken. Further the possession notice dated 30.12.2019 under Section 13(4) of the SARFAESI Act was issued and the same was affixed in the schedule property. Further, the said possession notice was published in two leading English and Vernacular newspapers on 05.1.2020. As on 14.9.2020, respondents 2 to 4 herein namely the defendants are liable to pay a sum of Rs.2,82,87,830/-.14. It has been further stated by the first respondent herein that at the time of execution of the loan agreement, it was confirmed that three was no encumbrance or charge, lien mortgage on the schedule property and that after verification of all related documents, the loan amount was disbursed. Furthermore, respondents 2 to 4 herein indemnified the first respondent herein that they would not encumber or create any litigation over the schedule property with any third parties. They also undertook to safeguard the interest of the first respondent.15. It was the case of the first respondent herein that all these facts were suppressed, the said suit had been laid and an order of attachment was ordered, which caused great prejudice to the first respondent herein. The civil court has no jurisdiction to entertain the suit in the light of the bar under Section 34 of the SARFAESI Act. The first respondent relied upon the decision of the Hon'ble Supreme Court in the case of State Bank of Patiala Vs. Mukesh Jain [reported in 2016 (6) CTC 330].16. The learned Single Judge, after taking into consideration of all these facts, noted that the said suit had not been filed on the basis of any agreement of sale, but only with respect to advancing the loan to the first defendant, that the said suit was also not based on execution of mortgage deed, but on the strength of promissory notes and that the said suit was not based on land. Considering these facts and balancing the right of the existing mortgagee and also the fact that what is required to be examined is as to whether the transaction between the plaintiff and the defendants was bona fide or whether there was any suppression, the learned Single Judge raised the order of attachment by the impugned order.17. Mr.Mukund Rao, learned counsel appearing for the appellant referred to the mortgage deed dated 18.7.2017, which, according to the plaintiff, was the first mortgage deed and the second mortgage deed was dated 11.9.2017. The third mortgage deed was dated 11.1.2019.18. They are all registered documents in respect of other properties. However, the schedule property in the present application is without any encumbrance and the first respondent herein verified the same from the concerned Sub-Registrar Office and having been satisfied that there was no encumbrance of the property in question, the first respondent herein advanced the loan amount. What is to be noted is that the said suit has been laid for recovery of money. It is not a suit based on money nor it is a suit based on land.19. In paragraph 21 of the plaint, the cause of action was stated to be certain promissory notes executed by the defendants. Curiously enough, the second respondent herein, who is the first defendant in the said suit and who is the borrower, though entered appearance through a counsel, did not contest the application fo

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r interim injunction namely O.A.No.1171 of 2019 nor the application for attachment before judgment namely A.No.9876 of 2019. We were informed by the learned counsel for the appellant that a notice was served and the second respondent herein/first defendant entered appearance through counsel, yet she did not object. Therefore, the conduct of the second respondent/first defendant needs to be examined.20. To be noted, the original title deeds of the property in dispute have been mortgaged in favour of the first respondent herein by way of deposit of title deeds and other documents were also executed. The defendants failed to repay the loan and proceedings have already been initiated under the SARFAESI Act and possession was taken under Section 13(4) of the SARFAESI Act. As could be seen from the affidavit filed by the first respondent in the present application, notices issued under the SARFAESI Act were duly published in the newspapers and admittedly, the deposit of title deeds was in the year 2017. Hence, we are of the considered view that the learned Single rightly raised the order of attachment. We find no grounds to interfere with the impugned order.21. For the foregoing reasons, the above original side appeal is dismissed. Consequently, the connected CMP is also dismissed.
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