National Small Industries ... vs Unicorp Industries Ltd.
2006 Latest Caselaw 252 Del

Citation : 2006 Latest Caselaw 252 Del
Judgement Date : 8 February, 2006

Delhi High Court

National Small Industries ... vs Unicorp Industries Ltd. on 8 February, 2006

Author: B D Ahmed

Bench: B D Ahmed

JUDGMENT

Badar Durrez Ahmed, J.

1. This is a suit for recovery of Rs. 45,91,799.30. The defendant was directed to be proceeded with ex parte by virtue of order dated 08.07.2005 and the plaintiff was directed to lead ex parte evidence through affidavits. The plaintiff led ex parte evidence through affidavits by filing affidavits of Mr Sunil Bali (PW-1) and Mr K.L. Shah (PW-2). Mr Sunil Bali (PW-1) made general depositions with regard to the transactions and has also been able to prove the documents being Exhibits-PW-1/1 to PW-1/19. Mr K.L. Shah, who appeared as PW-2, by his affidavit, has been able to prove the ledger (Exhibit-PW 2/1) showing the balance outstanding as on June, 1999 and the statement of accounts (Exhibit-PW 2/2)showing the balance recoverable as on 31.03.2002 being the suit amount of Rs. 45,91,799.30.

2. The nature of transactions between the plaintiff and the defendant were that the defendant approached and requested the plaintiff for grant of assistance under the raw material assistance scheme of the plaintiff for a financial limit of Rs. 80 lacs for purchase of raw materials in the shape of D. RAM, SIMS Monitors and other computer hardware, peripherals and spares. It has come in evidence that the said limit was enhanced from Rs. 80 lacs to Rs. 180 lacs. I have gone through the evidence led by the plaintiff who has been able to prove all the documents, i.e., Exhibits-PW-1/1 to PW-1/19 and PW-2/1 and PW- 2/2. It, therefore, stands established that a sum of Rs. 45,91,799.30 was due and payable by the defendant to the plaintiff as on 31.03.2002. The suit was instituted on 05.04.2002 and, therefore, it can safely be said that the amount due on the date of filing of the suit was Rs. 45,91,799.30 which includes the principal sum of Rs. 21,44,894.35 and interest thereon at the agreed rate of 22% per annum.

3. Accordingly, the suit stands decreed in favor of the plaintiff for a sum of Rs. 45,91,799.30 Along with pendente lite and future interest thereon till realisation @ 12 % per annum. The plaintiff shall also be entitled to costs of the present suit. The decree sheet be prepared accordingly. The present suit as also all the pending applications stand disposed of.