The petitioner / the Tamil Nadu Industrial Investment Corporation Limited in O.P.No. 625 of 2010 is the appellant herein, having filed the appeal against the order of the learned Single Judge dated 31.03.2016 allowing the said Original Petition against the first to fourth respondents therein and absolving the fifth and sixth respondents from liability. The Appeal has been filed challenging that portion of the order absolving the fifth and sixth respondents from liability.

2. It is the case of the appellant that they are a public financial institution incorporated by the Government of Tamil Nadu with the object to grant loans and advances to industries. As security for such loan, land and building and also machineries are hypothecated in favour of the petitioner. It had been contended that the second to fourth respondents in the Original Petition, had sought financial assistance to start a leather garments manufacturing unit and on examination of the loan proposal, the appellant had sanctioned a term loan of Rs.5.50 lakhs on 28.08.1995 towards purchase of machinery and a further loan of Rs.5