INDCAP ENTERPRISES LLP Vs. NIAZ AHMED

JUDGEMENT

(1.) The present suit has been filed under Order XXXVII CPC seeking recovery of a sum of Rs. 3,95,85,000/-which includes the principal sum of Rs. 1,74,00,000/- along with interest @ 18% per annum.

(2.) The case of the Plaintiff, in brief, is that the Plaintiff had invested a sum of Rs. 3,24,54,000/- in a company by the name M/s. Integrity Geosciences Pvt. Ltd. The said investment was made pursuant to an agreement dated 29th October, 2007 entered into between the Plaintiff on one hand, and Mrs. Shama Niaz Ahmed, Dr. Niaz Ahmed and Mr. Arindom Ganguly, on the other hand.

(3.) The agreement clearly acknowledged the payment of a sum of Rs. 24 crores by the Plaintiff. The relevant clause is set out herein below: -