M/S.Industrial Ventura v. M.S.Rajaram And Another

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) TUESDAY, THE 17TH DAY OF AUGUST 2021 THE HON'BLE MR. JUSTICE R.SUBRAMANIAN C.S. No.417 of 2002 M/s. Industrial Venture, Capital Limited.

Having its registered office at "Vairams", No.112, Thyagaraya Road, T.Nagar,Chennai-600 017.

... Plaintiff

Versus

1. M.S.Rajaram, S/o.M.Subrahmanyam, 27/6, Second Street, Muniasamypuram, Tuticorin - 628 003.

2. Girija Rajaram W/o.Rajaram, 27/6, Second Street, Muniasamypuram, Tuticorin - 628 003.

... Defendants Civil suit praying that this Hon'ble Court be pleased to a decree and judgement against the Defendants:

(a) for a sum of Rs.45,49,019.16 together with interest thereon at the rate of 24% on Rs.18,00,000/- from date of plaint till realisation.

(b) for costs of the suit.

(c) for other reliefs as this Hon'ble Court may deem fit and proper in the circumstances of the case and render justice. This suit along with C.S.43 of 2002 in the presence of Mr.Prakash Goklaney for M/s.P.J.George, Advocates for the plaintiff herein and Mr.H.Karthik Seshadri, for M/s.

Iyer & Thomas, Advocates for the defendant herein and upon reading the plaint filed herein and the other exhibits therein referred to and upon perusing the evidence adduced therein and having stood over for consideration till this date and coming in this day before this court for orders in the presence of said advocates for the parties hereto and this court having observed that the suit transaction is a complete commercial transaction and the borrowing was for the purposes of business, this court is of the considered opinion that the defendants could be directed to pay interest at 7% per annum, on the principal amount, it is ordered and decreed as follows:- That the defendant herein, due pay to the plaintiff herein, a sum of Rs.

50,49,678/- (Rupees Fifty Lakhs Forty Nine Thousands Six Hundred Seventy Eight Rupees Only) with further interest at the rate of 7% per annum on the sum of Rs.18,00,000/- (Rupees Eighteen Lakhs Only) from this date till the date of realisation.

2) That the defendant herein, do pay to the plaintiff herein, the proportimate costs of this suit as and when taxed by the taxing officer of this court and noted in the margin thereof.

WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 17TH DAY OF AUGUST 2021.

Sd./- ASSISTANT REGISTRAR (Comm.Cases) //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments.

VSP 02/09/2021 C.S. No.417 of 2002 DECREE DATED : 17.08.2021 THE HON'BLE MR.JUSTICE R.SUBRAMANIAN FOR APPROVAL:03/09/2021 APPROVED ON: 07/09/2021