JUDGMENT :

M.M.SUNDRESH, J.

These two appeals arise out of a common order passed by the learned Single Judge, allowing the application filed seeking an order of injunction pending disposal of the suit while rejecting the application for rejection of plaint. Aggrieved by the aforesaid orders, these appeals are filed by the first defendant.

2. For the sake of convenience, the parties are referred to as per their ranks in the suit.

3. We have heard learned Senior Counsel for the parties and perused the documents filed, judgments produced and the written arguments of the first respondent.

4. Facts:

4.1. We believe an appropriate factual narration would substantially take care of the issues raised in these appeals.

4.2. A credit facility was extended by the third defendant – Indian Overseas Bank in favour of the plaintiff with its own Scheme of re-payment and terms and conditions attached. It was followed by a sanction letter which indicates collateral security as well. The reasons for granting of loan have also been indicated in the aforesaid communication.

4.3. An assignment agreement was