Bangalore District Court M/S Sve Steels Private Limited vs M/S Siva Stones Inc on 7 February, 2023 IN THE COURT OF THE LXXXVI ADDL. CITY CIVIL JUDGE AT BANGALORE [CCH.No.87] Present: Smt.NERALE VEERABHADHRAIAH BHAVANI, B.A., LLB (Hons) LXXXVI ADDL. CITY CIVIL JUDGE Dated this the 7th day of February, 2023 Com.O.S.No.936/2021 Plaintiff : M/s SVE Steels Private limited # 2568, First Floor, 8th Main Road, Banashankari 2nd stage, Banashankari Bengaluru560 070 Represented by its Authorized Signatory Sri.Pradeep R Raman (By V.R.B, Advocate) Vs Defendants : 1. M/s Siva Stones Inc. Plot No.3 and 4, building products SEZ, Annangi 523211, Maddipadu Mandal, Prakasam Dist.Andhra Pradesh Rep by its Managing Partner. Mr.Shiva Narayanshiv Kumar. Managing Partner Plot No.3&4, Building products SEZ, Annangi 523211, Maddipadu Mandal, Prakasam Dist.Andhra Pradesh (By M.S.S, Advocate) Com.O.S.No.936/2021 2 Date of institution of the suit : 23.12.2021 Nature of the suit [suit on pronote, suit : Recovery of money for declaration and possession, suit for injunction] Date of the commencement of recording of the evidence: 28.11.2022 Date on which the Judgment was pronounced : 07.02.2023 Year/s Month/s Day/s Total Duration 01 01 15 (N.V.BHAVANI) LXXXVI Addl. City Civil Judge Bangalore. JUDGMENT The plaintiff has filed this suit for directing the defendants to pay jointly and severally for a sum of Rs.1,03,99,525/ together with interest at 18% p.a and also directing the defendant to pay future interest at the rate of 18% p.a on principle amount of Rs.57,46,300/ from the date of the suit till the date of realization. Com.O.S.No.936/2021 3 2. The brief facts of the plaintiff's case as averred in the plaint are as under: The plaintiff is a Private Limited Company registered under the Companies Act bearing CIN: U2953KA2010PTC054440, and is engaged in the business of dealership and supply of Steel Saw Blades & Steel Grits. 3. That the Defendant No.1 is a partnership firm and that the Defendant No. 2 is the Managing Partner of Defendant No.1 and that the Defendant No.2 is in charge of the day to day business activities of the Defendant No.1. It is further submitted that during the course of time, the Defendants represented by their authorized representatives and employees have approached the plaintiff company and have placed purchase orders for the supply of Steel Saw Blades and Steel Grits of various specifications and per the purchase orders placed to the plaintiff company, it made supplies to the defendants by raising necessary invoices and the same was received and acknowledged by the defendant's Firm. The Plaintiff Com.O.S.No.936/2021 4 further submits that the Defendants have duly received the goods and have issued Bill of Entry acknowledging the satisfactory quality and quantity of the materials received by them. It is further submitted that, for the above supplied materials/goods the Defendants have made part payments to the Plaintiff. 4. The Plaintiff issued a Confirmation of Ledger account to the Defendants to ascertain the Closing balances and match the books of accounts of both the Plaintiff Company and the Defendants. It is further submitted that, the defendants have acknowledged and signed the confirmation of accounts 02.03.2018. 5. As per the Confirmation of accounts dated 02.03.2018, the outstanding balance payable by the Defendants to the Plaintiff was Rs.87,46,300/. Subsequent to the confirmation of accounts, a sale was made to the Defendants as per invoice bearing No:83 amounting to Rs. 15,91,000/ and the balance payable by the Defendants as on 31.03.2018 was Rs.1,03,37,300/.he Plaintiff further submits that, another sale was made to Com.O.S.No.936/2021 5 the Defendants as per Invoice bearing No: SVE/004/2018 19 dated 17.04.2018 amountin