JUDGMENT

1. This commercial division summary suit is instituted for recovery of aggregate amount of Rs. 17,84,34,432/- along with further interest @ 18% per annum on the principal amount of Rs. 4,00,00,000/-from the date of the suit.

2. The material averments in the plaint, can be stated in brief as under :-

(a) The plaintiff is a Hindu Undivided Family. Mr. Indarmal N.Halkara is its Karta. The plaintiff - Karta is a Director and Shareholder of a Company, 'Halkara Builders Private Limited' ("Halkara"). The defendant is a partner of a registered partnership firm, M/s. Cosmos Landmarks ("Cosmos"). Both Halkara and Cosmos deal in the business of real estate development.

(b) On 3rd April 2010, an agreement was executed between Halkara and Cosmos for the redevelopment of a SRA Project at Forjett street, Mumbai. At the request of the defendant, to enable him to tide over the financial constraints, the plaintiff had advanced to the defendant a friendly loan of Rs. 4,00,00,000/-. The plaintiff was given to understand that the defendant would use the said fund to meet its contractual obligations under the agreement dated 3rd April 2010. It was agreed that the said loan amount would carry intere