IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH
Harkesh Manuja, J
M/s Sachdeva and Sons Industries Pvt. Ltd. – Appellant
Versus
M/s NRC Industries Ltd. – Respondent
| Table of Content |
|---|
| 1. nature of the financial transaction leading to the recovery suit. (Para 1 , 2) |
| 2. facts of financial assistance and security deposits. (Para 3) |
HARKESH MANUJA, J. (ORAL)
By way of present revision petition, challenge has been laid to an order dated 15.01.2020 passed by the Court of learned Civil Judge (Senior Division), Amritsar; whereby an application under Order 38 Rule 5, preferred at the instance of plaintiffs / respondents No.1 and 2 was allowed and a direction was issued to attach the property of petitioner/ defendant No.5.
2. Briefly stating, respondents No.1 and 2 being plaintiffs filed a suit for recovery against respondents No.3 to 5, herein, being defendants 1 to 3; having impleaded respondent No.4 as defendant No.4 and the petitioner being defendant No.5. The suit was filed for SANJAY GUPTA recovery of Rs.6,71,28,7568/- with Rs.5 crores as principal amount and the remaining towards interest. In short, it was pleaded that defendants No.1 to 3 initially approached defendant No.4 Bank for grant of financial assistance and in lieu thereof, defendant No.5 deposited its 07 title deeds pertaining to different properties situated in Village Chabbha, Tehsil and Di
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