K. BALASUBRAMANIAN Vs. R. PADMA

JUDGEMENT

(1.) ALLEGING that there is willful disobedience of the Judgment dated 5.9.2005 made in O.S.A.No.202 of 2005, the petitioners/defendants 6,8 and 9 filed Contempt Petition No.315 of 2011 against respondents No.1 to 4/plaintiffs 2, 4, 5 and 6 in C.S.No.51 of 2005 and the 5th respondent, who is a third party – M/s.Continental Warehousing (Nhava Sheva) Limited and has been a lessee under respondents 1 to 3. The dispute over the control and management of the 1st plaintiff – M/s.Citrex Products Limited has been the subject matter of dispute between the parties.

(2.) THE 1st Plaintiff – M/s.Citrex Products Limited purchased properties in S.F.No.157/1 – 11.50 acres in Thatchur village; S.F.No.124/12 – 14.50 acres in Peravallur village; S.F.No.124/4B – 2.00 acres in Peravallur village and S.F.No.124/11 – 2.80 acres in Peravallur village in the public auction conducted by M/s.Tamil Nadu Industrial Investment Corporation Limited (TIIC) under registered sale deed dated 28.7.1993. The total outstanding to TIIC was Rs.120 lakhs. The 1st Plaintiff M/s.Citrex Products Limited borrowed money of Rs.1,18,17,677.15 from Defendants Group of Companies for the purpose of discharging the mortgage loan due to the consortium of Banks consisting of Indian Overseas Bank, Canara Bank and TIIC and to redeem the suit schedule property. Case of plaintiffs is that as a security for the said loan, the 1st plaintiff – M/s.Citrex Products Limited executed various documents and signed in several blank papers and also opened accounts with Times Bank with whom defendants Group of Companies had a tie up.

(3.) C .S.No.51 of 2005 has been filed by the Plaintiffs inter alia for the reliefs: