Rule. Made returnable forthwith.

1. The appellants/plaintiffs challenged a sale deed dated 10th February, 2012 executed by defendant No.3 company on the basis of a power of attorney dated 5th March, 2010 executed in favour of defendant No.1 company by the defendant No.2 as a Director of defendant No.3. The defendant No.2 is also a Director of defendant No.1. The appellants/plaintiffs claim to be owners of the suit property under a sale deed dated 5th July, 2007 executed in favour of the appellants/plaintiffs by the initial landowners as vendors. The defendant No.3 company claims rights under a development agreement executed by the plaintiffs in favour of defendant No.3 dated 25th April, 2008. The defendant No.3 seeks to further sell the suit property to third parties. The plaintiffs applied for injunction in that behalf which has been refused under the impugned order of the learned VI Joint Civil Judge Senior Division, Nashik dated 22nd February 2013, which is challenged in this appeal.

2. It has been the grievance of the plaintiffs that the defendant No.2 who was made additional Director in defendant No.3 company removed plaintiff No.1 as the Director of defendant No.3 without following the legal process in that behalf and has executed the power of attorney as also the sale deed on behalf of defendant No.3 in favour of defendant No.1 in which company also he is a Director. The plaintiffs' case of ownership is sought to be made out under the sale deed dated 5th July, 2007. The plaintiffs claim to have paid consideration of Rs.75 lakhs to the vendors under the sale deed.

3. It is argued on behalf of defendants/respondents that the consideration was not paid by the plaintiffs. In order to see this aspect the parties have produced their bank statements. The plaintiffs claim to have paid consideration under clause 11 of the sale deed dated 5th July, 2007. Rs.75 lakhs are shown to be paid by nine separate cheques/demand drafts on 3rd May, 2007, 4th July, 2007 and 1st August, 2009. The first three demand drafts of Rs.3 lakhs each are accepted to have been paid by another company Zerostart Trading Pvt. Ltd. incorporated by plaintiff No.2 and his wife on 17th June, 2006 and in which they were Directors. In that company defendant No.2 was inducted as additional Director on 10th August, 2006. However his election was not confirmed in the next AGM of that company.

4. The other three cheques dated 4th July, 2007 shown to have been paid from the individual account of plaintiff No.2 to the vendors. The plaintiffs have shown one debit entry of Rs.22,01,124/- from the individual account of plaintiff No.2 by way of a transfer by pay order on 4th July, 2007. This amount represents the total of the three payments shown to be made on 4th July, 2007 to the vendors.

5. However the defendants have shown that on 4th July, 2007 itself Rs.25 lakhs came to be paid by Zerostart Trading Pvt. Ltd in favour of plaintiff No.2. There is an entry of Rs.25 lakhs shown by way of transfer debited to the account of Zerostart Trading Pvt. Ltd on 4th July, 2007. No such credit is shown in the account of plaintiff No.2 on 4th July, 2007. The pay orders have been issued by the banker of plaintiff No.2, the Ratnakar Bank Ltd., debiting the account of plaintiff No.2.

6. The further three cheques issued on 1st August, 2007 to the vendors are also shown debited to the account of plaintiff No.2 totalling to Rs.45 lakhs. The defendants have shown the debit entry of Rs.45 lakhs from the account of Zerostart Trading Pvt. Ltd., by way of transfer in favour of defendant No.3 company on 26th July, 2007. However the individual bank account of plaintiff No.2 shows Rs.45 lakhs being credited to his account on 27th July, 2007 which has been later debited into the account by way of the three cheques issued in favour of the vendors debited on 2nd August, 2007.

7. The bank statements of the Plaintiffs show consideration paid by the Plaintiff. The sale deed is made in fa