S. Ravindra Bhat, J.

1. In this suit - initially instituted as a summary suit under Order XXXVII CPC - the plaintiff claims a decree for Rs. 20,40,023/- against the defendants.

2. The plaintiff is a Company and had taken-over M/s. Rustagi Engineering Udyog Private Limited in terms of the order of Court under Section 394 of the Companies Act. The first defendant is also a Company; the second and third defendants are its Managing Director and Director. It is stated that the latter stood as sureties for the repayment of the first defendant company's dues arising out of its agreement with the plaintiff. The second and third defendants also allegedly executed personal guarantees in favor of the plaintiffs. The suit submits that the defendants entered into an arrangement with the erstwhile M/s. Rustagi Engineering Udyog Private Limited, succeeded to by the plaintiff, for taking on lease huge quantities of M.S. Moulds of particular specifications. The plaintiff agreed to offer and lease-out 1250 sets of such moulds. According to the plaintiff, the value of each such mould was Rs. 4850/-. The plaintiff relies upon a lease agreement entered into with the first defendant company on 10.09.1993.