J U D G M E N T

(Delivered on 27.12.2023)

Per Mr.Milind.S.Sonawane, Hon’ble Presiding Member.

This is the case filed under S.49 read with S.35 of the Consumer Protection Act,2019. ( the ‘C.P. Act’ for short).

2. It is case of Complainants that, complainant no.1 and opponent no.2 are the relatives and they formed M/s Suvarna Packaging which is complainant no.2, a partnership firm. Complainant no.3 M/s Packwell Pvt. Ltd,. is an independent firm of complainant no.1. Complainant no.1 and opponent no.2 initially took loan from Sarastwat Co-operative Bank in June 2003 and mortgaged its plants, machinery and other fixed assets in 2003. Later on that loan was transferred to Akola Urban Co- oprative Bank. Thereafter, the loan was taken over by State Bank of Hyderabad, which later on merged with opponent No.1.

3. The complainants further state that, up to Oct. 2010 everything was going well and complainant no.2 was making good business. But thereafter there has been dispute arose between complainant no.1 and opponent no.2. Ultimately the dispute went to the Arbitrator. The Arbitral award has been passed by the Arbitrator. Resultantly, the partnership firm i.e. complainant no.2 become the defaulte