JUDGMENT :

1. This commercial division summary suit is instituted for recovery of a sum of Rs.3,02,78,710/- along with further interest on the principal sum of Rs.2 Crore at the rate of 18% p.a. from the date of the institution of the suit till payment and/ or realization.

2. The plaintiff is a company incorporated under Companies Act, 1956. It deals in the business, inter alia, of production of audio visual contents – programs, which are broadcast on various digital media platforms like YouTube. Defendant no.2 - Parvinchand Narindernath Sehgal is the proprietor of Ganpati Enterprises, defendant no.1. Defendant no.3 is the karta of defendant no.2.

3. The plaintiff claims, on the request of defendant no.2, plaintiff had advanced a sum of Rs.2 Crore to the defendants. A loan agreement dated 28th July, 2016 evidencing the said transaction came to be executed. The loan was to be repaid after a period of 12 months, along with interest at the rate of 18% p.a. The plaintiff remitted the amount of Rs.2 Crore on 28th July, 2016 to the account of defendant no.1 through banking channels. Only an amount of Rs.30,00,000/- towards interest component was paid by the defendants. After expiry of the t