JASWANT CHAND Vs. G V FILMS LIMITED

JUDGEMENT

(1.) The plaintiff, who is the financier, has come forward with the suit for recovery of a sum of Rs.2,95,00,000/- with interest at the rate of 36% per annum from the date of plaint till the date of realization.

(2.) The brief averments in the plaint are as follows:

(3.) The plaintiff would claim that M/s.Asian Capital Consolidates & Holdings Pvt. Ltd., had filed a suit against the 1st defendant in CS No.523 of 2001 for recovery of money and the said suit was dismissed by this Court on 14.08.2001. The appeal in OSA No.295 of 2001 was filed by the plaintiff in CS No.523 of 2001 aggrieved by the said dismissal. Pending the said OSA, the 1st defendant attempted to release the picture without reference to the claim of the present plaintiff by entering into a compromise with the said M/s.Asian Capital Consolidates & Holdings Pvt. Ltd. Hence, the plaintiff had filed the CMP No.808 of 2003 seeking to implead himself in the said appeal. On 14.01.2003, a compromise was entered into between the plaintiff herein and the 1st defendant, under which the 1st defendant under took to pay a sum of Rs.3,00,00,000/- in full and final settlement of the claim of the plaintiff. As per the said compromise, a sum of Rs.75,00,000/- was to be paid on or before 101.2003; a sum of Rs.25,00,000/- was to be paid by 25.01.2003 and the balance was to be paid before 31.02003 and it was agreed by the parties that the picture will be released only after settling the entire amount to the plaintiff. The 1st defendant paid a sum of Rs.65,00,000/- on 14.01.2003, but failed to comply with the terms of the compromise entered into in the appeal by paying the remaining amount as per the time line fixed in the compromise.