LG ELECTRONICES INDIA LIMITED Vs. USHA INDIA LIMITED

JUDGEMENT

(1.) In a suit for recovery of Rs. 4,74,88,505/- filed by LG Electronics India Limited against M/s. Usha (India) Limited and others, an application under Order XII Rule 6, CPC has been made by the plaintiff seeking a decree for Rs. 4,65,02,400/- in view of alleged admissions on the part of M/s. Usha (India) Limited (defendant No. 1) and M/s. Usha Housing Development Company (defendant No. 2).

(2.) Resume of facts relevant for disposal of application are that the plaintiff was granted lease by defendant No. 1 in respect of super structure, with chargeable super area of 24,220 sq. ft. (carpet area 20,184 sq. ft.) on the ground floor of a building constructed on plot No. A-41, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi on a monthly rent of Rs. 7.26,600/- @ Rs. 30/- per sq. ft. w.e.f. 15.3.1997. A lease agreement dated 9.4.1997 Was executed between the plaintiff and defendant No. 1 setting out the terms and conditions of the said lease. The lease document was, however, not got registered. As per terms and conditions of the lease, plaintiff deposited 24 months' lease amount totalling Rs. 1,74,38,400/- vide cheque No. 481401 dated 10.4.1997 drawn on Bank of America; cheque No. 712513 dated 18.3.1997 and cheque No. 147839 dated 18.3.1997 drawn on Bank of Tokyo- Mitusubishi Limited, as security deposit with the defendant No. 1. Lease agreement stipulated that the plaintiff would be getting the maintenance services in the demised premises from defendant No. 1 only. Accordingly, plaintiff and defendant No. 1 entered into and executed an agreement for lease of various equipments, utilities and facilities on 9th of April, 1997 (for short, 'Equipment Lease Agreement') incorporating the terms and conditions in respect thereto. An amount of Rs. 2,03,44,800/- equivalent to 24 months' lease amount was deposited by the plaintiff with the defendant No. 1 vide cheque No. 481401 dated 10.4.1997 drawn on Bank of America as interest free security deposit. The parties also agreed that the said security deposit was to be replenished by 30% at the end of three years.

(3.) Further, in terms of Clauses 2 and 6 of the Lease Agreement and the Equipment Lease Agreement respectively, the plaintiff entered into a Maintenance and Services Agreement with defendant No. 2, to provide Maintenance and Services on the leased premises on monthly maintenance charges of Rs. 3,63,300/-. The plaintiff made an interest free security deposit of Rs. 87,19,200/-, for maintenance services, with defendant No. 2 vide cheque No. 481402 dated 10.4.1997 drawn on Bank of America, which was to be replenished by 30% at the end of three years.