(1.) The Second appeals were admitted on 11.04.2007 on the following substantial questions of law:
(2.) Heard Mr. Rohit Vaidya, learned counsel h/f Mr. Parchure, learned counsel for the appellants and Mr. S. S. Deshpande, learned counsel for the respondent nos.1 and.2. None appears for the respondent no.3 in Second Appeal No.457 of 2005 and for respondent no.2 in Second Appeal No.460 of 2005 though served. For the sake of convenience, the parties are referred in the nomenclature in which they stood before the Trial Court.
(3.) The facts leading to the second appeal are as under: