JUDGMENT

A.M. Ahmadi, CJI. - M/s. Cholamandlam Investments & Finance (P) Ltd. with its registered office at Madras filed a suit being CS No. 1161 of 1991, in the High Court of Madras against M/s. Radhika Synthetics Ltd. seeking a decree for a sum of Rs. 65,82,850 with interest amounting to Rs. 62,75,778 on the allegation that the amount was due under a hire-purchase agreement dated 26-4-1989 and a supplemental agreement dated 1-6-1989. The plaintiff further contends that it had earlier filed CS No. 716 of 1990 in the High Court of Madras in which an Advocate Commissioner was appointed to seize the machinery that was the subject-matter of the agreement and that thereafter on negotiation between the parties, two further supplemental agreements, both dated 19-10-1990, were executed and in view of the supplemental agreements, CS No. 716 of 1990 was withdrawn. The present suit before the Madras High Court was filed as the defendant M/s. Radhika Synthetics Ltd., failed to pay the installments from November 1990 onwards. As per the schedule annexed to the agreement dated 26-4-1989, the machinery was to be supplied by M/s. Primatex Machinery Private Limited, Dombivli, Thane. M/s. Radhika S