IN THE COURT OF THE CITY CIVIL , & SESSIONS JUDGE AT

BENGALURU
JUDGE AT BEGALURU CITY : CCH

COM O.S. No /2022

BETWEEN
Mrs Jayalakshmi Subramanian
No.1052 , Tower 1 A , Prestige,
Bella Vista Ayyapanthal,
Mt. Poonamallee Road
Chennai - 600056 Plaintiff

SUBRAMANIAN VISWANATHAN Plaintiff

1726 Thistle lane , Munster Indiana ,
46321 USA ( Rep Jayalakshmi Subramanian )

Anthony Traicoff
4809 , Tod Avenue , East Chicago
Indiana , 46321 USA Plaintiff

AND

TRA- COR STRIP STEEL PVT . LTD

At C -17 , Tarang apartment , Plot no, I P Extension
Delhi 110092 and manufacturing unit Plot No. 577
A , KIADB , Belur Industrial Area , Dharwad – 580011
DEFENDANT

R . Rajaram
E – 603 . Kohinoor Vayona
Mumbai – Pune Highway
Opp , PCMC . Pimpri
Pune – 411018
DEFENDANT
MEMORANUM OF PLAINT UNDER ORDER – VII , RULE -1 READ WITH
SECTION -26 OF THE CIVIL PROCEDURE CODE , 1908 :

THE PLANTIFF ABOVE NAMED SUBMIT AS

FOLLOWS

1. The address of the parties for the purposes of issues of summons , Court
notices , process etc are as stated in the cause title . The plaintiff is represented
by its council Sri , A M ITKEAR UDDIN , Smt , AYANTIKA MONDAL , Krishna
Naik , Abdul Jabbar Advocates , Prime Legal , No.39 /S2 ,2 nd Floor , Opp State
Bank of India , K G Road in the building of the ASVNV Sangha , Bengaluru –
560009 , E mail – info@primelegal.in Mob No – 9986386002

2. The address of the DEFENDANTS for the purposes of service of summons ,

notice/s is as stated in the cause title above

3. The defendant No. 1 is a Private Limited Company incorporated under the

Companies Act , 1956 and having its registered office at C -17 , Tarang
apartment , Plot No. 19 I P Extension ,Delhi – 110092 and the address
mentioned in the cause title is head office and registered office . The company
was incorporated in the year 27/06/2005 . The Defendant No. 2 is the director
of the company , residing at E – 603 , Kohinoor Vayona Opposite PCMC ,
Behind ginger Mumbai Pune Highway , Pimpri Pune 411018 . It is submitted
that plaintiff 2 has given the Power of Attorney to and defendant entered into a
Share Purchase Agreement on 22/04/2019 . The cash consideration for the
stock is an amount of Rs 1,50,00,000( Rupees One Crore and fifty lakh Only )
as the “Purchase Price “ . A copy of the same has been attached here with as
Document No. Defendant No.1 shall be paying an amount of Rs 6,00,000/-
( Rupees six lakh Only ) on 5th of each month commencing from 1st June 2020 .
However the parties agreed that no penalty shall levied on Defendant No.2 for
Pre – payment of the amount of purchase price . However if the payment of any
of amount is delayed by more than 30 days from the date when it is due then
the Defendant No. 2 agrees to pay an interest on the outstanding amount at the
rate of 18% per annum
4. The Plaintiff further submits that a promissory note was made on 11/10/2019
to pay the amount of 1.50 Crores. But the Defendant failed to make the
payment for a period of one year and further promised to pay a minimum
amount of Rs 1, 20,000 /- (One Lakh Twenty Thousand Only) with an
additional of 4% monthly turnover, if turnover is above 20 Lakhs . If there is
any delay in the payment beyond 15 days, interest at 18% per annum would be
payable for the outstanding amount
5. The Plaintiff further submits that , even after the promise to pay the amount by
the Defendant they did not adher to the demand . On 15/02/2020 , the plaintiff
met the accused and demanded the payment for which the Defendant issued a
cheque dated 15/02/2020 bearing number 419889 in favour of the Plaintiff for
a sum Rs 1,20,000/- Syndicate Bank Vidya Nagar Hubli , towards the part
payment . Plaintiff states that when the cheque was presented for payment on
18/02/2020 to his bankers namely M/s Axis Bank Plot No.3 , First Floor ,
Mount poonamallee road Kattupakam , Chennai – 600056 , for collection . To
the Plaintiff surprise the cheque was returned dishonured on 18/02/2020 and
with a memo from the bankers stating that “Funds Insufficient “ . The copy of
the same is attached herewith as Document No.

6. The Plaintiff submits that , a legal notice dated 25/09/2020 was sent to the
Defendant as in the provision of the Negotiable Instrument Act . The notice was
served to the Defendant on 28/09/2020 . Hence the act of the Defendant is
punishable under sec 138 of Negotiable Instrument Act , 1881

7. It is submitted that the Defendant have failed to adher the timeline to pay the
principle amount and interest, the plaintiff has made numerous telephone
calls , emails despite all the efforts. The Defendant stared evading plaintiff by
not picking up calls and also Defendant was not reachable

8. CAUSE OF ACTION: The cause of action for the suit arose on 18/02/2020 ,
when the cheque was presented for payment and it was returned as
“Dishonoured “ and Defendant failed to keep up the legally enforceable dues