GUJARAT LEASE FINANCING LTD. vs ABDULLA AKBARALI & CO. . — C.A. No. 115 - 116/2002

Case Summary: Gujarat Lease Financing Ltd. v. Abdulla Akbarali & Co. Outcome: The Supreme Court allowed Gujarat Lease Financing's appeals, set aside the trial court and High Court orders granting unconditional leave to defend, and remanded the case for the trial court to proceed in accordance with law. The Court found that the loan was taken by respondents in their individual capacity (not by Volvo Steels Ltd.), and the mere existence of an injunction on valueless shares was insufficient grounds for granting unconditional leave, as there appeared to be no triable issue. No costs were awarded. This case analysis is maintained by casestatus.in based on publicly available court records.