LAWS(SC)-2016-11-16

IDBI TRUSTEESHIP SERVICES LTD. Vs. HUBTOWN LTD.

Decided On November 15, 2016
Idbi Trusteeship Services Ltd. Appellant
V/S
Hubtown Ltd. Respondents

JUDGEMENT

(1.) Leave granted.

(2.) The present appeal arises out of a Summons for Judgment No. 39 of 2013 in a Summary Suit filed on the original side of the Bombay High Court, by the Petitioner, a debenture trustee, to enforce rights that arise out of a Corporate Guarantee executed by the Respondent-defendant. The necessary averments made in the plaint would disclose the cause of action of the suit as well as the facts necessary to decide this appeal. They are as follows:

(3.) The affidavit-in-reply to the aforesaid Summons for Judgment raised the following defence, as recorded by the Ld. Single Judge in the impugned judgment dated 8 th May, 2015.