Back
HIGH COURT OF MADRAS
Hon`ble Mr Justice N.ANAND VENKATESH
INTEGRATED FINANCE COMPANY L – Appellant
Versus
KASTHURI RENGA RAMANUJAM – Respondent
J U D G M E N T
This mortgage suit has been filed by the Plaintiff against the Defendants for the recovery of a sum of Rs.8,17,28,388.28 along with interest and in default of the payment of the said amount, to bring for sale the mortgaged property and apply the proceeds of the sale towards the payment of the principal and interest.
2.The case of the Plaintiff is that they are carrying on with the business of hire purchase and leasing of machineries. During the course of their business, the first Defendant Company is said to have approached the Plaintiff for financial assistance for purchase of various machineries under hire purchase facility. Pursuant to the same, the parties had entered into five hire purchase agreements and the details of the same is extracted below:
| S.No. | Date | Hire Purchase Agreement No. | Amount Financed |
| 1. | 31.03.1998 | HPA NO. 97MAA00353 | 27,40,000/- |
| 2. | 31.03.2000 | HPA NO. 99MAA00265 | 18,17,782/- |
| 3. | 27.09.2001 | HPA NO. 01MAA00089 | 31,00,000/- |
| 4. | 18.03.2002 | HPA NO. 01MAA00151 | 17,25,000/- |
| 5. | 27.09.2002 | HPA NO. 02MAA00023 | 54,32,500/- |
3. The further case of the Plaintiff is that the Defendants defaulted and were irregular in the payment of the monthly installme
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
