A party seeking judgment on admission must demonstrate clear and unequivocal admissions, and failure to establish a prima facie case precludes injunction relief.

JUDGMENT :

Krishna Rao, J.

1. The plaintiff has filed the present application being GA No. 1 of 2023 in CS No. 121 of 2023 under Order 12 Rule 6 of the Code of Civil Procedure, 1908 praying for judgment and decree on admission for a sum of Rs. 45,00,000/- along with interest @ 18% per annum totaling in Rs. 1,18,82,918/- or in alternative for an order of injunction restraining the defendant from dealing with or disposing of or alienating or transferring or encumbering his assets and properties and from withdrawing any amounts from their bank accounts.

2. The defendant approached the plaintiff for a loan of Rs. 45,00,000/-and in view of the relationship between the plaintiff and the defendant, the plaintiff agreed to makeover a loan to the defendant. The terms and conditions of the loan were discussed between the parties and it was agreed between the parties that the plaintiff would lend and advance a sum of Rs. 45,00,000/- to the defendant with the interest @ 18% per annum. The defendant would be received the said amount and is re-payable on demand. It was further agreed between the parties at the end of each financial year, the defendant would execute necessary balance confirmation certificate confirming the principal amount due to the plaintiff for the purpose of tax.

3. On 26th September, 2017, the plaintiff has paid a total sum of Rs. 45,00,000/- to the defendant. At the end of each financial year, the defendant executed and made over balance confirmation certificates to the plaintiff upto 31st March, 2020. From the end of year 2021, the defendant failed and neglected to issue balance confirmation to the plaintiff. The plaintiff by an email dated 16th October, 2022 and a letter dated 14th June, 2023 called upon the defendant for repayment of the loan amount of Rs. 45,00,000/- along with interest accrued therein. The defendant failed to pay the principal amount as well as interest as demanded by the plaintiff, the plaintiff has filed the present suit.

4. Mr. Jishnu Chowdhury, Learned Senior Advocate representing the plaintiff submits that the defendant has admitted and acknowledged the debt in the balance confirmations executed by the defendant for the financial year 2019-2020.

5. Mr. Chowdhury submits that the defendant has not denied with respect to the receipt an amount of Rs. 45,00,000/- from the plaintiff which was duly transferred from the account of the plaintiff to the account of the defendant on 26th September, 2017. He submits that the defendant has also not denied with regard to the balance confirmations showing the total amount of Rs. 45,00,000/-.

6. Mr. Chowdhury further submits that the plaintiff came to know that the defendant is involved circumstances and has numerous creditors in the market. He submits that the defendant was the real estate developer and has developed several projects in past but at present, the defendant does not has any project which is upcoming. He submits that the involvement of the defendant at present is as lenders in many projects which have been taken over by other persons. He submits that the defendant and his concerns are at the stage of insolvency. Mr. Chowdhury further submits that the plaintiff and her family members have filed several suits against the defendant and his family concerns claiming total amount of Rs. 114 Crores.

7. Mr. Thaker submits that it is settled law that a contract entered into by a company must be in writing. He submits that the alleged oral contract as relied upon by the plaintiff with a company is null and void. He submits that there exist written contracts which the plaintiff has suppressed in order to make out the case of oral agreement. He submits that for the alleged similar transaction with Canon Properties Private Limited, the plaintiff has instituted suit being CS No. 120 of 2023.

8. Mr. Thaker submits that the moneys were advanced in 2017 but there is no instance of payment of any amount of interest as claimed by the plaintiff @ 18% per annum. He submits