- (1.) Leave granted.
(2.) Appellants herein were defendant Nos. 4 to 7 in the suit. Plaintiff-respondent No.1 filed the suit against them and four others. They are admittedly partners of defendant No.1 firm, M/s. AR. AS & P.V.PV , registered under the Partnership Act, 1932. Defendant No.3 P. Shankar (Respondent No.4 herein) was also a partner in the said firm.
(3.) Allegedly, Defendant No.2, P.V. Purushothaman (Respondent No.3 herein), who has been described as the Managing Partner of the said firm, fraudulently obtained an advance from the plaintiff wherefor a personal guarantee was furnished by the defendant No.2. Indisputably a cheque for a sum of Rs. 50 lakhs was issued in the name of the defendant No.1.;