GOVARDHAN, J.

1. A. No. 484/1995: The applicant in his affidavit contends as follows: The suit is filed for recovery of Rs. 12,76,809.33. The defendants received from the plaintiff financial assistance for the purpose of investments in their sister concerns. They agreed to pay interest on the borrowing of Rs. 1 lakh. In the second defendant Company, the first defendant is the Managing Director. He stood guarantee for the due repayment of the amount. After utilising the amount borrowed, they have failed to repay the same, and a commission of 1% has to be paid to the first defendant. The second defendant used to deduct tax at source for outstanding interest and the amount due by the first defendant. Tax was deducted at source. The first defendant issued a cheque towards the amount due. The plaintiff made a demand through his advocate. The defendants put forward a false plea denying the borrowing. The defendants are heavily involved in debts. The defendants are owning the immovable properties which have been mortgaged in favour of the State Bank of Hyderabad. They have let out the premises on a rent of Rs. 85,000/- per month in favour of the State Bank of India, Tirupathi. T