LEELA CAPITAL FINANCE LIMITED Vs. MODILUFT LIMITED

JUDGEMENT

(1.) THE plaintiffs have prayed for an order and decree against the defendants to pay to the plaintiffs a sum of Rs. 5,67,68,433. 23 as per particulars of claim Exh. N to the plaint together with further interest at the rate of 27% per annum on the principal sum of Rs. 5 Crores from the date of filing of the suit till payment and/or realisation and for costs of the suit.

(2.) ON receipt of writ of summons, the defendants entered their appearance to contest the suit. Thereafter, the plaintiffs have taken out the present summons for judgment for a decree on the ground that the suit claim is an ascertained and liquidated claim and it arises from a written contract between the parties and that the defendants have no defence of any nature. In support of the summons for judgment an affidavit of Shri Jayant Athavale verifying the facts is filed by the plaintiffs. The defendants have filed affidavit in reply dated 5th March, 1998 of one Shri Ogale, resisting the summons for judgment and praying for unconditional leave to defend the suit on various grounds. The plaintiffs have filed their rejoinder dated 17th January, 2000. The defendants have filed sur-rejoinder dated 29th January, 2000. Thereafter, the plaintiffs have filed an affidavit in further support of summons for judgment dated 3rd October, 2000 and the defendants have filed an affidavit of one Shri Patankar dated 10th October, 2000 in reply to the affidavit in further support of the summons for judgment.

(3.) I have heard the learned Counsel for both the parties. Both have taken me through the proceedings and both have relied upon certain judgments which I would refer to at the appropriate stage.