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SENTHILKUMAR RAMAMOORTHY
Northern ARC Capital Limited – Appellant
Versus
Sambandh Finserve Private Limited – Respondent
ORDER
The Plaintiff has filed this application for summary judgment. By such application, the Plaintiff seeks a judgment and decree for the suit claim of Rs.38,16,45,711/-, jointly and severally, against the first and second Respondents/Defendants.
2. The Applicant/Plaintiff submits that the first Defendant borrowed money from the Plaintiff under multiple facility agreements. These loans were guaranteed by the second and third Respondents/Defendants. On 07.10.2020, the then Chief Financial Officer and other senior employees of the first Defendant issued a communication stating that the first Defendant does not have sufficient liquidity to service its debt obligations and had defaulted in repayment since 30.09.2020. The Applicant/Plaintiff also relies upon an email of 15.10.2020 from the second Defendant to the Plaintiff enclosing a letter dated 13.10.2020. In such letter, the first Defendant informed the Chief Executive Officer of the Plaintiff that members of the senior management team of the first Defendant had committed financial irregularities. The first Defendant also conceded therein that it is facing liquidity issues. The third communication that the Applicant/Plaintiff reli
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