SATPAL ( 1 ) THIS is a suit for recovery of sum of Rs. l,77,031. 64p together with pendente lite and future interest @ 18. 5% p. a. ( 2 ) THE facts of the case briefly stated are that the plaintiff is a banking company constituted under the Banking Companies (Transfer and Acquisition of Undertakings) Act of 1970 with its Head Office at Bangalore in the state of Karnataka and its branches spread all over India. As such it is entitled to sue and to be sued in its own name. Shri V. Ananda is the Principal Officer and Manager of a branch of the plaintiffr Bank situated at C-29, D. D. A, Shopping Complex, Defence Colony, New Delhi. He is duly authorised to sign and verify the present plaint and to institute the present suit and in. this, regard he holds a power of attorney from the Plaintiff Bank. ( 3 ) THE present suit relates to what was previously known as the Lakshmi Commercial Bank Limited. In pursuance of Central Government Notification dated 23rd August, 1985 issued under Section 45 (7) of the Banking Regulation Act, 1949by the Govenunent of India, the entire undertaking of the Lakshmi Commercial Bank limited was transferred and vested in the Canara Bank (plaintiff bank) as the corresponding new Bank for the Lakshmi Commercial Bank as specified in the said notification w. e. f. 24. 8. 85. ( 4 ) AS per averments made in the plaint,defendant No. l approached the plaintiff Bank for the grant of a loan and submitted a detailed application dated 6. 4. 81 in this behalf for purchase of an Ambassador Car. It is further stated that pursuant to this request, Lakshmi Commercial Bank Limited sanctioned a loan of Rs. 48,000. 00 to defendant No. l subject to the condition that defendant No. l and 2 and late Shri Bishan Kumar Bhargava will sign and execute the necessary documents in this behalf. In consideration and to secure the repayment of the balance from time to time in the loan amount of Rs,. 48,000. 00 together with interest charges and expenses etc. , defendants 1 and 2 and late Shri Bishan Kumar Bhargava executed and delivered on 13. 4. 81 to the Lakshmi Commercial Bank Ltd. various documents including demand promissory note dated 13. 4. 48,000. 00 together with interest charges and expenses etc. , defendants 1 and 2 and late Shri Bishan Kumar Bhargava executed and delivered on 13. 4. 81 to the Lakshmi Commercial Bank Ltd. various documents including demand promissory note dated 13. 4. 81 duly signed and executed by defendant No. l, two letters of guarantees, both dated 13. 4. 81 duly signed and executed by defendant No. 2 arid late Shri Bishan Kumar Bhargava, letter on Form No. 42-A dated 13. 4. 81 duly signed and executed by defendant No. l. It is further stated that as per request of the defendant No. 1, the plaintiff Bank sent a cash order dated 13. 4. 81 for a sum of Rs. 64,000. 00 to M/s. Hindustan Auto Distributors, Calcutta on account of the price of an Ambassador Mark IV Car bearing No. WME-5510 purchased by defendant No. l. ( 5 ) IT is further alleged in the plaint that defendant No. l deposited a sum of Rs. 4500. 00 on 23. 6. 81, a cheque of Rs. 7500. 00 on 30. 12. 81 (which was dishonoured on presentation) and two cheques of Rs. 1000. 00 each on 13. 3. 82 (one of these cheques was dishonoured on presentation), ,two cheques of Rs. 7500. 00 and Rs. 1,000. 00 on 26. 9. 82 and lastly a sum of Rs. 500. 00 on 4,6. 85 for reducing its liabilities. It is further alleged that the defendant No. 1 signed and executed balance confirmation slip dated 4. 6. 85 acknowledging the liability for a sum of Rs. 92,225. 74. After the assets and liabilities of the Lakshmi Bank were taken over by the plaintiff Bank, the defendant No. 1 signed and executed an acknowledgment of debt and security dated 6. 11. 85 wherein he acknowledged that an amount of Rs. 91,725. 74 inclusive of interest, costs and charges Upto 31. 3. 85 was due from him to the Plaintiff Bank. It is further alleged that as on 23. 4. 84, a sum of Rs. 98,844. 79p was due and outstanding from the defendants to the plaintiff. The defendants are also liable to pay an amount of Rs. 78,975. 90 being the interest from 24. 5. 85 till 10th August, 1988. It has been further alleged in the plaint that all the defendants are the legal heirs of late Shri Bishan Kumar Bhargava. 98,844. 79p was due and outstanding from the defendants to the plaintiff. The defendants are also liable to pay an amount of Rs. 78,975. 90 being the interest from 24. 5. 85 till 10th August, 1988. It has been further alleged in the plaint that all the defendants are the legal heirs of late Shri Bishan Kumar Bhargava. It is also alleged that inspite of the repeated requests and the legal notice dated 29. 4. 88 (which was duly served on defendants 1 and 3, but notice sent to defendant No. 2 came back unsolved), the defendants have failed to clear the outstanding liabilities, hence the present suit has been filed for recovery of Rs. 1,77,864. 00 together with pendente lite and future interest as stated hereinabove. ( 6 ) AT the initial stage, the defendants were being represented by their counsel. however, the defendants did not file any written statement and started absenting themselves from the proceedings from 23rd August, 1990 and finally they were ordered to be proceeded against ex-parte vide order dated 6th December, 1990. On the same date the plaintiff bank was directed to file affidavits by way of evidence. Accordingly, the plaintiff Bank has filed affidavits by way of evidence duly signed and sworn by D. I. M. Sarpal Singh, at present Manager of Plaintiff Bank, Margao-Goa Branch, who was the Manager Lakshmi Commercial Bank Ltd. , Lajpat Nagar Branch till 23rd August, 1985, Shri B. S. Baliga, at present Manger Canara Bank, Holalur, Distt. Shimoga (Karnataka), who was the Manager of Lajpat Nagar Branch from 24th August, 1985 to 14th June, 1988 and by Shri V. Anand, Manager, Canara Bank, Branch D. D. A. Shopping Complex, Defence Colony, New Delhi- 110024. All the averments and allegations made in the plaint have been proved through the aforesaid three witnesses. ( 7 ) EX. PUBLIC Witness 1/1 is the loan application form dated 6th April, 1981 duly signed by defendant No. l. EX. Public Witness 1/2 is the letter duly signed by late Shri Bishan Kumar Bhargawa, guarantor for the grant of the said loan. Ex. Public Witness 1/3 is the demand promissory note dated 13. 4. 81 duly signed by the defendant No. l. Ex. Public Witness 1/4 is the letter of guarantee dated 13. 4. 81 duly signed and executed by defendant No. 2. Ex. Ex. Public Witness 1/3 is the demand promissory note dated 13. 4. 81 duly signed by the defendant No. l. Ex. Public Witness 1/4 is the letter of guarantee dated 13. 4. 81 duly signed and executed by defendant No. 2. Ex. Public Witness 1/5 is the letter of guarantee dated 13. 4. 81 duly signed and executed by late Shri Bishan Kumar Bhargava. EX. Public Witness 1/ 6 is the letter dated 13. 4. 81 on Form No. 42awhichhas been duly signed by defendant No. l. EX. Public Witness 1/7 is the undated note duly signed by defendant No. l in favour of the Plaintiff Bank to remit a sum of Rs. 64,000. 00 to M/s. Hindustan Auto Distributors. EX. Public Witness 1/8 is the office copy of the letter dated 13. 4. 81 annexing a cash Order for Rs. 64,000. 00 to M/s. Hindustan Auto Distributors, Calcutta. Ex. Public Witness 1/9 to Ex. Public Witness 1/12 are the documents pertaining to the purchase of the Ambassador Car from M/s. Hindustan Auto Distributors. Ex. Public Witness 1/14 is the balance confirmation slip dated 30. 1183 duly signed by the defendant No. l confirming the balance of Rs. 73,517. 89 as on that date, Ex. Public Witness 1/15 is the balance confirmation slip dated 4. 6. 85 duly signed by defendant No. l confirming the balance of Rs. 92,225. 74 as on mat date. Exhibits Public Witness 1/16 to Public Witness 1/18 are the photo copies of the notification issued by the Government of India in terms of which all the assets arid liabilities of the Lakshmi Commercial Bank Ltd. were taken over by the plaintiff Bank w. e. f. 24. 8. 85. All the exhibits mentioned in this paragraph have been proved by Shri D. I. M. Sarpal, Public Witness-1. ( 8 ) EX. Public Witness 2/1 is the acknowledgment of debt and security dated 6. 11. 85 duly singed by defendant No. l. Ex. Public Witness 2/2 to Public Witness 2/8 pertain to the legal notice dated 6. 4. 88 sent to me defendants and regarding service of the said legal notice on defendants 1 and 2. Ex. Public Witness 2/9 to Public Witness 2/15 pertain to legal notice dated 29. 4. 88 sent to the defendants and regarding the service of the said notice on defendants 1 and 3. 4. 88 sent to me defendants and regarding service of the said legal notice on defendants 1 and 2. Ex. Public Witness 2/9 to Public Witness 2/15 pertain to legal notice dated 29. 4. 88 sent to the defendants and regarding the service of the said notice on defendants 1 and 3. All these exhibits have been proved by Shri B. S. Baliga, Public Witness-2. ( 9 ) EX. Public Witness 3/1 and 3/2 are the photo copies of the power of attornies dated 8. 3. 77 and 19. 9. 88 issued by the Plaintiff Bank in favour of Shri V. Anand authorising him to institute the suit and to sign and verify the pleadings on behalf of the Plaintiff Bank. Ex. Public Witness 3/3 is the duly authenticated copy under the Bankers Book Evidence Act of the LHV A/c. of the defendants in the books of the Plaintiff Bank showing a sum of Rs. 98,845. 74p as due and outstanding from the defendants as on 23. 8. 85. All these exhibits mentioned in this paragraph have been proved by Shri V. Anand, Public Witness 3. The said witnesses have also proved that besides Rs. 98,845. 74p, the defendants were liable to pay an amount of Rs. 78,185. 90p being the amount of interest @ 18. 5% p. a. with quarterly rests from 24. 8. 85 till 10. 10. 88. ( 10 ) AS stated herein above the defendants have not filed any written statement controverting the averments and allegations made in the plaint. No witness has been examined by the defendants to rebut the averments made in the plaint and supported by the evidence of the Bank. Hence the plaintiffs arc entitled to succeed in this suit. Accordingly, the suit for recovery of a sum of Rs. l,77,031. 64p is ereby decreed with costs in favour of the plaintiff and against the defendants. The plaintiff shall be entitled to pendente lite and future interest @ 18. 5% p. a. Decree may be drawn accordingly.