RENOX COMMERCIALS LIMITED Vs. INVENTA TECHNOLOGIES PRIVATE LIMITED

JUDGEMENT

(1.) Renox Commercials Limited has filed a suit in C.S. No. 518/99 for recovery of a sum of Rs. 56,23,123/- with future interest at the rate of 18% per annum against Inventa Technologies Private Limited, Chennai and Allahabad Bank, Main Branch, Chennai, the defendants.

(2.) Pending disposal of the suit, the plaintiff/applicant has filed this application No. 2290 of 1999 praying for a direction to the Inventa Technologies Private Limited, the respondent/first defendant herein, to furnish security for the suit claim failing which, to order attachment before judgment of the immovable property belonging to the first defendant/respondent herein.

(3.) This application was admitted by this Court on 21-7-1999 and notice was issued to the respondent for furnishing security, returnable by three weeks. On receipt of this notice, the respondent/first defendant filed a counter through the affidavit dated 30-8-1999, sworn to by its Managing Director. The applicant/plaintiff filed a reply affidavit dated 12-1-2000.