LAWS(MAD)-2022-2-178

S. RAVICHANDRAN Vs. N. MUTHUKUMARAN

Decided On February 14, 2022
S. RAVICHANDRAN Appellant
V/S
N. Muthukumaran Respondents

JUDGEMENT

(1.) This Civil Miscellaneous Appeal has been preferred against the fair and decretal order dtd. 4/10/2021 made in I.A.No.434 of 2021 in O.S.No.371 of 2021 on the file of Principal District Court, Tirupur.

(2.) The petitioner herein is the defendant and the respondent is the plaintiff in a suit in O.S.No.371 of 2021. The said suit has been filed by the respondent herein, for recovery of a sum of Rs.71,61,675.00 along with interest based on the loan confirmation cum undertaking deed executed by the petitioner in favour of the respondent having borrowed the loan amount of Rs.60,00,000.00. Though for the purpose of repayment of loan amount, the petitioner gave various cheques with different denominations, the same have been returned by the concerned bank for in-sufficient funds, which prompted the respondent to file the suit. Along with the suit, the respondent has also moved an interlocutory application in I.A.No.434 of 2021 under Order XXXVIII Rule 5 of C.P.C., to direct the petitioner/defendant to furnish the security for the suit amount, failing which to attach the suit scheduled property before judgment.

(3.) In the said Interlocutory Application, the respondent/plaintiff claimed that the petitioner/defendant has failed to repay the loan amount borrowed by him despite repeated demands and the cheques issued in lieu of repayment of suit amount were also dis-honoured and that there is every likelihood of the petitioner/defendant to dispose of the property which stood in his name with malafide intention to defeat the suit claim.