LEO ISPAT LIMITED Vs. HIND STEEL SALES

JUDGEMENT

(1.) The application under Order XXXVII Sub Clause 3 read with Sec. 151 of the Code of Civil Procedure, 1908 (hereinafter referred to"CPC'), has been filed on behalf of the defendants, for leave to defend the Suit filed by the plaintiff for Recovery of Rs.2,14,26,083.00 including interest @ 18% p.a. with pendent lite and future interest claimed @13% p.a.

(2.) The defendants have sought leave to defend on the ground that there is no cause of action disclosed in the Plaint; that it is barred by Limitation; and that the Suit has not been filed by a Competent Person, on which score itself it is liable to be rejected.

(3.) The defendant M/s Hind Steel Sales (HSS), which is a partnership Firm, was involved in the business of iron/steel trading, with the plaintiff Company, through its Managing Director, Mr. Devi Dayal Garg. The last business transaction was made in the month of July, 2009. During the course of business, payment of around Rs.2.5 Crores was made to the plaintiff Company.