JUDGMENT :

(Ravi Krishan Kapur, J.)

Facts :

1. These appeals arise out of a common judgment and decree dated 9 October 2015 subsequently modified by an order dated 14 October 2015 passed in six different suits instituted for recovery of money lent and advanced whereby the plaintiffs have been granted the principal amount including simple interest @ 10% per annum from 10 October, 2008 till the date of payment.

2. Briefly, the defendant/appellant was earlier known as Anglo India Jute Mills Co. Ltd. (AIJM). The plaintiffs in all the suits are associate companies of the JP Goenka Group of Companies. Till about 1994, both the plaintiff and the defendant were group companies under the common management and control of the JP Goenka Group of Companies. In or about 1987, the defendant was declared to be a sick industrial undertaking within the meaning of the Sick Industrial Companies (Special Provisions) Act, 1985 (the Act) and a proceeding (BIFR Case No.117 of 1987) was registered with the Board for Industrial and Financial Reconstruction (BIFR).

3. Initially, a scheme for rehabilitation of the defendant was sanctioned on 28 March, 1989. By the 1989 scheme, the promoters were required to in