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18.02.2026 07.04.2026 -- 07.04.2026 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR Judgment reserved on: 18.02.2026 Judgment delivered on: 07.04.2026 FAM No. 35 of 2024

1 - Rajat Ispat Pvt. Ltd. Marshal House, 33/1 N.S. Road, Room No. 234, 2nd Floor Kolkata 700001, Through its Director Shankar Lal Agrawal S/o Shri Kundan Lal Agrawal Aged About 52 Years R/o House No. 61,-

62, Park Avenue Colony Dhimrapur Raigarh District - Raigarh (C.G.)

2 - Shankar Lal Agrawal S/o Shri Kundan Lal Agrawal Aged About 52 Years R/o House No. 61, 62 Park Avenue Colony Dhimrapur P.O.

Raigarh Chhattisgarh

3 - Dayanand Agrawal S/o Shri Kundan Lal Agrawal Aged About 48 Years R/o House No. 61, 62, Park Avenue Colony Dhimrapur P.O.

Raigarh Chhattisgarh ... Appellants versus

1 - Champion Ceramics Pvt. Ltd. Industrial Area Korba Road Post Office Champa District - Janjgir - Champa Chhattisgarh (Respondent/ Plaintiff) 2 - Subhash Agrawal S/o Gulab Chand Agrawal R/o 40/424 Kotra Road Post Office Raigarh District - Raigarh (C.G.) (Respondent / Defendant No. 2)

3 - Rekha Agrawal W/o Subhash Agrawal R/o 40/424 Kotra Road Post Office Raigarh District - Raigarh (C.G.) (Respondent/ Defendant No.3) 4 - Bhushan Power and Steel Limited Village Thelkoloi Post Office Lapanga Tehsil Rangali District - Sambalpur (Orissa) ( Respondent /

Defendant No. 6) ... Respondents Hon'ble Smt. Justice Rajani Dubey Hon’ble Shri Justice Radhakishan Agrawal

C A V Judgment

Per Rajani Dubey, Judge

1. The appellants have preferred the present appeal against the judgment and decree dated 26.09.2024 passed by the Commercial Court (District Judge Level), Nava Raipur Atal Nagar, District Raipur (C.G.) in Commercial Suit No. 04B/2019, whereby the suit filed by the plaintiff/respondent No. 1 has been decreed and defendants No. 1 to 5 have been held jointly and severally liable to pay a sum of Rs. 99 lakhs along with interest. The parties to this appeal shall be referred herein as per their description before the learned Family Court.

2. Pleadings of the plaintiff are that the plaintiff is a small-scale industry registered with MSME, Govt. of India, which, among other things, is engaged in the business of manufacturing of basic refractory products. The defendant no. 1 is a company engaged in the business of manufacture of basic iron and steel. The defendant nos. 2 & 3 are former Directors of the defendant no. 1. The defendant no. 4 & 5 are current Directors of the defendant no.1. The defendant no.6 is also a company engaged in the business of manufacture of steel.

The plaintiff has pleaded that it has been supplying refractory materials to the defendant no. 6 since last several years. In line with the plaintiff's verbal agreement with the defendant no 6, the defendant no. 6 makes the payment for receiving the refractory material to the plaintiff within 3 months. However, in the year 2016, the defendant no. 6 communicated its inability to make payment against supply of refractory material and in lieu thereof offered DRI Lumps (Pellet) (hereinafter referred to as "the material") worth Rs. 1,04,45,591/- (Rupees One Crore, Four Lakhs, Forty-Five Thousand, Five Hundred, Ninety-One Only) in exchange in order to clear its debt. Owing to the fact that the plaintiff did not need the said material offered by defendant no. 6, it approached the defendant no. 1 company through one of its directors, defendant no. 2 on 17/09/2016 requesting to lift the said material from defendant no. 6 and pay the amount on account thereof to the plaintiff. The defendant no 1 agreed to lift the material from the defendant no. 6 and to pay the amount in respect thereof to the plaintiff within 1 month of lifting. The defendant no. 6 also agreed to permit the defendant no. 1 to lift the material on behalf of the plaintiff in order to clear its debts owed to the plaintiff.

Subsequen