Research › Search › Judgment

Delhi High Court · body

2000 DIGILAW 497 (DEL)

UNION BANK OF INDIA v. INDIAN PROJECT PRIVATE LIMITED

2000-07-03

MUKUL MUDGAL

body2000
MUKUL MUDGAL,j. ( 1 ) THIS is a suit on behalf of the plaintiff-Bank under Order XXXVII CPC, seekingrecovery of Rs. 2,52,166. 20. 00 along with pendente lite interest. ( 2 ) THE suit arises from a claim by the plaintiff-Bank payable by the defendants forproviding Packing Credit Account facility of Rs. 1 lacs on 26. 5. 1981 and therafterfrom time to time when the defendants operated the account and the cause of actionarose in favour of the plaintiff on the failure of the defendants to clear the account. Thecause of action further arose on 25/06/1983 when the plaintiff remitted the Bankguarantee amount to Dacca and on 10. 2. 83, 12. 1. 83, 10. 1. 84 and on 14. 12. 85 whenthe defendants admitted the claim of the plaintiff-bank and failed to honour theircommitment of repayment. ( 3 ) THE defendants 1,3and4 had not put in their appearance despite service. Accordingly, an ex-parte decree for Rs. 2,52,166. 20 with costs alongwith interestwas passed on 28/04/1989infavourofthe plaintiff and against the defendants1,3 and 4. Subsequently a decree was passed against defendant No. 2 vide orderdated 12. 3. 1991. Thereafterdefendantno. 3 moved an application for setting asidethe ex-parte decree. The ex-parte deeree was set-aside and subsequently on 2 5/03/1998 the defendant No. 3 was allowed leave to defend the suit. However, thedefendant No. 3 did not appear thereafter and as such he was proceeded ex-parte byorder dated 13/07/1998 and the plaintiff-Bank was directed to file ex-parteevidence by way of affidavit. To prove its case, the plaintiff-Bank has filed theevidence by way of Affidavits dated, 3/03/1999, 5th March, 1999 and 18ththaugust, 1999, of Shri K. C. Mehrotral Branch Manager as PW. 1 and Shri P. N. Bansal, Chief Manager as PW. 2 alongwith documents. ( 4 ) THE plaintiff-Bank has filed the following documents to prove its case:sl. Description Exhibit Nos. Nos. 1. Credit Information dt. 9. 5. 81 Ex. PW. I/l2. Credit Information Ex. PW. 1/23. Credit Information dt. 7. 5. 81 Ex. PW. 1/34. Credit Information dt. 9. 5. 81 Ex. PW. I/45. Memorandums Articles of Associationof Indian Projects Pvt. Ltd. Ex. PW. 1/56. Power of Attorney dt. 3. 9. 1974 Ex. PW. 2/17. Letter of Guarantee dt. 26. 5. 1981 Ex. PW. 2/28. Promissory Note dt. 23. 6. 1985 Ex. PW. 2/39. Promissory Note dt. 23. 6. 1985 Ex. PW. 2/410. Statement of Accounts Ex. PW. 9. 5. 81 Ex. PW. I/45. Memorandums Articles of Associationof Indian Projects Pvt. Ltd. Ex. PW. 1/56. Power of Attorney dt. 3. 9. 1974 Ex. PW. 2/17. Letter of Guarantee dt. 26. 5. 1981 Ex. PW. 2/28. Promissory Note dt. 23. 6. 1985 Ex. PW. 2/39. Promissory Note dt. 23. 6. 1985 Ex. PW. 2/410. Statement of Accounts Ex. PW. 2/5by its affidavit of evidence and the documents exhibited, the plaintiff-Bank hasproved the averments made in the plaint. There is no rebuttal of these pleas. ( 5 ) ACCORDINGLY, the plaintiff-Bank is entitled to a decree with costs. The suit isdecreed with costs as prayed. A decree is passed in favour of the plaintiff-Bank andagainst defendant No. 3 in the sum of Rs. 2,52,166. 20. 00 with pendente lite and futureinterest @ 17. 5 per cent on Rs. 1,98,037. 45 and 18% per cent on Rs. 54,128. 75 fromthe date of the filing of suit, i. e. , 13/01/1987 till realizations a further interest@ 12% per cent per annum from the date of decree till the date of realization as thesuit arises from a commercial transaction. The plaintiff-Bank shall be entitled tocosts. Decree sheet be drawn up accordingly. The suit is accordingly disposed of.