RAMA PETROCHEMICALS LTD Vs. STARCHEM INDUSTRIES LIMITED

JUDGEMENT

(1.) The plaintiff has filed the suit for declaration that the plaintiff is the owner of the machinery leased in favour of the defendant as per the schedule attached to the lease agreement dated 31-9-1995 and further fought declaration that the said lease agreement between the plaintiff and the defendant is valid, subsisting and in force. The plaintiff has also prayed that the defendant be ordered to hand over possession of the leased assets as per the schedule attached to the agreement to the Plaint without creating any lien, charge, demand or any sort of encumbrance and prayed for injunction restraining the defendant, his servants, agents and representatives from selling, transferring and/or assigning and/or parting with possession in any way to any other person or third party till the lease agreement dated 23-9-1995 is determined or terminated.

(2.) The plaintiff has relied upon the documents attached to the Plaint viz. the lease agreement dated 23-9-1995, Board Resolution dated 4-8-1995, confirmation letter dated 30-9-1995, certificates of valuation and encumbrance dated 22-9-1995 and the correspondence from the plaintiff and the defendant.

(3.) It is also seen from the Plaint that before filing the present suit, the plaintiff has filed the suit in the City Civil Court, Bombay praying for injunction and considering the valuation of the suit, the said suit was ordered to be returned to the plaintiff to file substantial suit and accordingly the present suit is filed. The Plaint is verified by Shri R.D. Jog, Company Secretary of the plaintiff Company who is authorised to file the suit.