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IN THE HIGH COURT OF JUDICATURE AT MADRAS
C.V. Karthikeyan, K.Kumaresh Babu, JJ
Moosa Ahmed(deceased) – Appellant
Versus
M/s.IOCEE Exports Limited – Respondent
| Table of Content |
|---|
| 1. suit for debt recovery contested on limitation. (Para 1 , 2 , 3 , 4) |
| 2. arguments on acknowledgement and continuous transactions. (Para 5 , 6) |
| 3. plaintiff restricted claim to acknowledged liability. (Para 7 , 8 , 9) |
| 4. binding nature of trial concessions. (Para 10 , 11) |
| 5. suit barred by limitation; appeal allowed. (Para 12 , 13 , 14) |
JUDGMENT :
K.Kumaresh Babu, J.
The present appeal has been filed by the defendant challenging the judgment and decree dated 06.11.2019 whereby the suit was partly decreed by the learned Single Judge in C.S.No.343 of 2011 and the Cross Objection has been filed by the plaintiff as against the disallowed portion.
2. Heard the learned Senior counsel/counsel appearing for their respective parties in the respective Appeal and Cross Objection.
3. A suit had been instituted for recovery of money on the basis of the loans that were advanced by the plaintiff claiming a sum of Rs.2,26,82,963.78/- together with interest at the rate of 24% per annum and the same was primordially contested on the ground of limitation. The following issues were framed.
(i) Whether the suit is barred by limitation ?
(ii) Whether the plaintiff is entitled to a sum of Rs.2,26,
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