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.) THE present Notice of Motion was taken out by the plaintiff supported with an affidavit of Shri Jog dated 10-10-1997. As per order dated 21-10-1997 leave under Rules 147 and 148 of the High Court (O.S.) Rules was granted and the said Notice of Motion was made returnable after six weeks and the counsel who appeared on behalf of the defendant has waived service. On going through the order passed by my brother Justice Deshpande dated 21-10-1997 the court has directed the defendant to maintain status quo in respect of items i.e. equipments and machineries described on page 42 of the plaint till further order. A detailed affidavit in reply is filed by Shri T.V. Sandeep Reddy dated 18-6-1998 and in the said affidavit the defendant has produced documents in support of his case and it is prayed that no case is made out by the plaintiff and prayed for dismissal of the Notice of Motion with costs.