Lloyd Finance Ltd. (M/S.) vs Arvind Saraf & Anr.
1999 Latest Caselaw 825 Del

Citation : 1999 Latest Caselaw 825 Del
Judgement Date : 13 September, 1999

Delhi High Court

Lloyd Finance Ltd. (M/S.) vs Arvind Saraf & Anr. on 13 September, 1999

Equivalent citations: 2000 IIIAD Delhi 319

Author: M Mudgal

Bench: M Mudgal

ORDER

Mukul Mudgal, J.

1. This suit is filed by the plaintiff for recovery of Rs. 2,98,39,505/- together with pendentelite and future interest under Order xxxvII CPC.

2. Defendants were served on 21st August, 1998 with summons in the form No. 4 prescribed under Order xxxvII. Till today no application for leave to defend has been filed.

3. The suit is based on a written contract and is maintainable under Order xxxvII. Hence the plaintiff is entitled to a decree under Order xxxvII Rule 2(3) CPC. The plaintiff shall also be entitled to pendentelite and future interest.

4. The suit as prayed for is accordingly decreed against defendant No. 1 for Rs. 2,98,39,505/- as principal amount with interest @ 24% per annum from the date of the suit i.e. 27th July, 1998 till the date of decree and @ 8% per annum from the date of decree till the date of realization. The plaintiff shall be entitled to costs.

5. The suit is decreed accordingly. Decree sheet be drawn up in the above terms.