Judgment BADAR DURREZ AHMED, J (ORAL) 1. This is a suit under Order 37 of the Code of Civil Procedure, 1908 for recovery of a sum of Rs 45,25,000/-. The defendants have been served with the summons but have not entered appearance. 2. The plaintiff had extended a loan of Rs 25 lacs to the defendant No.1 pursuant to a Memorandum of Understanding entered into between the plaintiff and the defendant No.2 on 15.01.2003. The said amount of Rs 25 lacs was paid to the defendant No.1 on 17.01.2003 by way of a cheque which was encashed by the defendant No.1. The defendant No.2 had stood guarantee for the repayment of the loan and had issued several cheques in favour of the plaintiff. Those cheques were taken as guarantee for the loan. There were four such cheques all of which were returned unpaid by the bank of the defendant No.2 when the plaintiff presented them for encashment. As a result of these facts and circumstances, the plaintiff is claiming an amount of Rs 25 lacs by way of principal towards the recovery of the said amount. The plaintiff is also claiming interest at the rate of 24% per annum since 17.01.2003 (i.e., the date on which the cheque was issued for disbursement of the loan) till the filing of the present suit, amounting to Rs 22,25,000/-. Thus, the total of Rs 45,25,000/-is claimed by the plaintiff. The learned counsel for the plaintiff states that it was the usual understanding between the plaintiff and the defendant that the amount financed by the plaintiff would be returned by the defendant @ 24% interest. 3. Since the defendants have not appeared, the plaintiff is entitled to a judgment and decree forthwith. Consequently, a decree is passed in terms of prayer (a) of the suit. The plaintiff shall also be entitled to pendente lite and future interest till realization @ 12 % per annum. The suit stands decreed with costs. The formal decree be drawn up. The suit stands disposed of.