PRABHUDAS GURMUKHSINGH AND SONS Vs. G V FILMS

JUDGEMENT

(1.) THE Civil Suit is filed for a judgment and decree against the defendants 1 to 3 for a sum of Rs.57,99,700/- together with further interest at 18% per annum on Rs.25,00,000/- from the date of the plaint till the date of realisation and for a preliminary mortgage decree against the defendants directing them to pay the decretal amount of Rs.57,99,700/- with further interest and costs.

(2.) THE plaint averments, in brief, are as follows:-

(3.) THE plaintiff is a registered partnership firm under the provisions of Indian Partnership Act. THE plaintiff's partnership firm engaged in various business activities including money lending business. A Syndicate has been constituted containing various members and along with them also the plaintiff used to carry on its business activities. THE 1st and 2nd defendants company have been incorporated individually under the Companies Act. THE 1st defendant company was represented by its Chairman and Managing Director late G.Venkateswaran. He was the Chairman and Managing Director of the 2nd defendant company also. In both the companies the 3rd defendant, wife of G. Venkateswaran is one of the directors.