RELIANCE INDUSTRIES LTD. Vs. VIJAY CABLE INDUSTRIES

JUDGEMENT

(1.) The suit i.e. CS(OS) No.1112/1998 has been filed under Order 34 of the Civil Procedure Code (CPC), 1908 for recovery of Rs.6,20,98,822.11 paise jointly and severally from the defendant No.1 M/s Vijay Cable Industries, defendant No.2 Mr. Vijay Kumar Bhatia, defendant No.3 Mr. Tilak Raj Bhatia, both partners of M/s Vijay Cable Industries as well as from defendant No.4 Ms. Priya Bhatia wife of the defendant No.2 Mr. Vijay Kumar Bhatia and defendant No.5 M/s Vijay Cables Ltd., by enforcement of equitable mortgage of property No.A-111, New Friends Colony, New Delhi and property No.37, Block-A, Phase-II, Noida, U.P., pleading:

(2.) Summons of the suit were issued and vide ad-interim ex-parte order dated 28th May, 1998, the defendants were restrained from alienating, transferring or creating third party interest in the two properties aforesaid.

(3.) The plaintiff filed I.A. No.7948/1998 under Section 151 CPC pleading that the Uttar Pradesh Financial Corporation (UPFC) had issued public notice/advertisement in the newspaper dated 4th September, 1998 inviting offers for sale (under Section 29 of the State Financial Corporations Act, 1951) inter alia of the property No.A-111, New Friends Colony, New Delhi claiming the said property to be lying with UPFC as collateral security and contending that since the original title documents of the said property were lying with the plaintiff, the said property could not be lying as collateral security with the UPFC and seeking to restrain the UPFC from selling, alienating, transferring or creating any third party interest in the said New Friends Colony property.