R. KUMAR Vs. T.A.S. JAWAHAR AYYA

JUDGEMENT

(1.) This is an application filed by the plaintiffs seeking an ad-interim injunction restraining the 4th respondent/4th defendant from alienating the property described in the schedule to the Judges summon. The applicants have filed the suit C.S. No. 431 of 2019 for recovery of a sum of Rs. 1,04,25,000/- together with interest at the rate of 30% per annum due towards the loan borrowed by the 1st defendant from the plaintiffs on the security of the simple mortgage deed.

(2.) When the above application was taken up for hearing Mr. K. Chandrasekhar, learned counsel for respondents 3 and 4 took out a preliminary objection stating that no orders can be passed in the application by this Court as the dispute involved in the suit is one that comes within the jurisdiction of the Commercial Court. The learned counsel requested this Court to consider this issue as a preliminary argument in the application. Mr. K.V. Sundararajan, learned counsel appearing for the applicants has no objection to the same.

(3.) The learned counsel for the respondents 3 and 4 would contend that the transaction between the applicants herein and the 1st respondent would squarely fall within the definition of a "Commercial Dispute" as provided in Section 2(1)(c)(i) of the Commercial Courts, Commercial Division and Commercial Appellate Division of the High Courts Act, herein after called the Act.