JUDGMENT

(Prayer: First Appeal has been filed under Section Order 41 Rule 1 of Civil Procedure Code) against the judgment and decree dated 30.11.2015, made in O.S.No. 11300 of 2010, on the file of the V Additional Judge, City Civil Court, Chennai.)

Aggrieved over the judgment and decree dated 30.11.2015 passed in O.S.No. 11300 of 2010, on the file of the V Additional Judge, City Civil Court, Chennai, the appellants have preferred the first appeal.   2. This suit has been filed by the Plaintiff/respondent to direct the defendants/appellants to pay to the plaintiff/respondent a sum of Rs. 17,90,000/- together with interest at 36% per annum prevailing in the cine trade and as per the agreement on Rs.5,00,000/- from this date till the date of realization and to pay the costs of the suit.

Brief averments of the plaint:

3. On 21.09.1996 the plaintiff/respondent had advanced Rs.5,00,000/- to the defendants/appellants under a finance agreement dated 21.09.1996. The loan amount was given for production expenses of a Tamil Movie namely “Manasu” to the defendants/appellants. As per the terms and conditions of the said agreement the defendants/appellants have created first charge in respect of the