A.S. Oka, J.

By this appeal, the appellants who are the original defendants have taken an exception to the Judgment and order dated 1st October 2015 passed by the learned Single Judge on a Notice of Motion taken out by the respondent-plaintiff.

2. With a view to appreciate the submissions made across the bar, it will be necessary to make a brief reference to the facts of the case. For the sake of convenience, we are referring the parties with reference to their status before the learned Single Judge. A suit for recovery was filed by the plaintiff seeking a decree against the first defendant in the sum of Rs. 3,98,02,466/- at the rate of 13.50% p.a. on the principal amount of Rs. 2,00,00,000/- from 1st August 2013. The second prayer in the suit is for a declaration that the suit property which is the flat No. 2 (the "suit flat") in Shreyas building, Madam Cama Road, Mumbai 400 020 and the shares issued by the Shreyas Cooperative Housing Society Limited stand validly mortgaged in favour of the plaintiff in respect of the suit claim. The third prayer is for a decree fixing a date for redemption of mortgage. There are other consequential reliefs sought in the plaint. The case m