Commercial Courts, Commercial Division and Commercial Appellate
Division of High Courts Act, 2015–Code of Civil Procedure, 1908–Order 39,Rules 1 & 2–Granting of temporary injunction–Appreciaton of–Suit for recovery of money–Defendant’s company became defaulter in repayment of loan–Plaintiff entered into one time settlement with the bank qua his liability as guarantor and paid the amount of Rs. 3.05 crores to the bank by selling his property–Cheque given by defendant no. 1 qua the repayment has been dishonoured and proceedings u/s. 138 are pending–Defendant no. 3 is a private limited company and the liability of the share holders/owners can go upto the personal properties, the principle of lifting or corporate veil is required
to be invoked–If the properties referred in application are allowed to
be alienated/transferred before the rights of parties are finally determined in the pending civil suit, it could frustrate the lawful claim of plaintiff–Held, no interference would be justified in the impugned order.
