w w w . L a w y e r S e r v i c e s . i n



Aaryan Projects Private Limited v/s Klowin Infrastructure Private Limited


Company & Directors' Information:- C AND C PROJECTS LIMITED [Active] CIN = U74999HR2007PLC036644

Company & Directors' Information:- Y K M PROJECTS PRIVATE LIMITED [Active] CIN = U40109TG2008PTC057263

Company & Directors' Information:- K J INFRASTRUCTURE PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45203PN2008PTC131551

Company & Directors' Information:- D. E. C. INFRASTRUCTURE AND PROJECTS (INDIA) PRIVATE LIMITED [Active] CIN = U45209TG2008PTC060557

Company & Directors' Information:- T G R PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45200KA2012PTC062702

Company & Directors' Information:- S G PROJECTS LIMITED [Active] CIN = U65999WB1990PLC049684

Company & Directors' Information:- B C C PROJECTS PVT LTD [Active] CIN = U74899DL2001PTC112102

Company & Directors' Information:- J K S PROJECTS LIMITED [Active] CIN = U45400WB2011PLC157565

Company & Directors' Information:- D M P PROJECTS PVT LTD [Active] CIN = U27109WB2006PTC107513

Company & Directors' Information:- T & T PROJECTS LIMITED [Active] CIN = U45201AS2008PLC008641

Company & Directors' Information:- W AND W PROJECTS PRIVATE LIMITED [Active] CIN = U65910DL1989PTC036754

Company & Directors' Information:- E M C PROJECTS PVT LTD [Active] CIN = U29248WB1964PTC026261

Company & Directors' Information:- H AND V PROJECTS PRIVATE LIMITED [Active] CIN = U72400DL2011PTC220047

Company & Directors' Information:- M A PROJECTS PRIVATE LIMITED [Active] CIN = U70101DL2005PTC135093

Company & Directors' Information:- S. V. S. PROJECTS PRIVATE LIMITED [Active] CIN = U70100AP1998PTC029024

Company & Directors' Information:- M V PROJECTS (INDIA) PRIVATE LIMITED [Active] CIN = U45202KA2008PTC045272

Company & Directors' Information:- S V S PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45200AP2015PTC096787

Company & Directors' Information:- A T E PROJECTS PRIVATE LIMITED [Active] CIN = U74999DL1999PTC102246

Company & Directors' Information:- U W T PROJECTS LIMITED [Active] CIN = U45200AP2004PLC043198

Company & Directors' Information:- J J PROJECTS PVT LTD [Active] CIN = U24231WB1986PTC040246

Company & Directors' Information:- Z H PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400WB2012PTC184307

Company & Directors' Information:- K & J PROJECTS PRIVATE LIMITED [Active] CIN = U45203MH2004PTC150165

Company & Directors' Information:- T & I PROJECTS LTD [Active] CIN = L29130WB1984PLC038232

Company & Directors' Information:- B 2 R PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2013PTC189971

Company & Directors' Information:- C M PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC130580

Company & Directors' Information:- N G PROJECTS LIMITED [Active] CIN = U45201GJ2003PLC042152

Company & Directors' Information:- E AND C PROJECTS PRIVATE LIMITED [Active] CIN = U29150DL2002PTC115297

Company & Directors' Information:- B. D. R. PROJECTS PRIVATE LIMITED [Active] CIN = U45202TG1998PTC028780

Company & Directors' Information:- J T L PROJECTS PRIVATE LIMITED [Active] CIN = U70101KL2006PTC019439

Company & Directors' Information:- AARYAN PROJECTS PRIVATE LIMITED [Active] CIN = U70109WB2008PTC126990

Company & Directors' Information:- V AND S PROJECTS PRIVATE LIMITED [Active] CIN = U70109DL1996PTC079487

Company & Directors' Information:- L S R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U07010KA2005PTC036041

Company & Directors' Information:- V R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400AP2007PTC054901

Company & Directors' Information:- D C R PROJECTS PRIVATE LIMITED [Active] CIN = U45209TG2007PTC056307

Company & Directors' Information:- R. R. PROJECTS PVT LTD [Active] CIN = U45200TG1982PTC003711

Company & Directors' Information:- S H PROJECTS PRIVATE LIMITED [Active] CIN = U74996DL2006PTC149971

Company & Directors' Information:- S R PROJECTS INDIA PVT LTD [Active] CIN = U45207WB1981PTC033286

Company & Directors' Information:- L E PROJECTS PRIVATE LIMITED [Active] CIN = U45303WB2005PTC102555

Company & Directors' Information:- M. S. PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2009PTC131902

Company & Directors' Information:- J V PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC069037

Company & Directors' Information:- B N PROJECTS PRIVATE LIMITED [Active] CIN = U45201GJ2009PTC058067

Company & Directors' Information:- J P PROJECTS PRIVATE LIMITED [Active] CIN = U70109WB2011PTC165990

Company & Directors' Information:- R K PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL1990PTC043660

Company & Directors' Information:- A B PROJECTS PRIVATE LIMITED [Active] CIN = U45200MH2004PTC149404

Company & Directors' Information:- A K PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201TG1996PTC023179

Company & Directors' Information:- S N M PROJECTS PRIVATE LIMITED [Active] CIN = U70102UP2010PTC040243

Company & Directors' Information:- INDIA INFRASTRUCTURE PROJECTS LIMITED [Active] CIN = U45400UP2009PLC037401

Company & Directors' Information:- J AND H PROJECTS PRIVATE LIMITED [Active] CIN = U45200GJ2013PTC074010

Company & Directors' Information:- N S PROJECTS PRIVATE LIMITED [Active] CIN = U70101WB2007PTC117882

Company & Directors' Information:- H S PROJECTS PRIVATE LIMITED [Active] CIN = U45208DL2006PTC153706

Company & Directors' Information:- N M PROJECTS PRIVATE LIMITED [Active] CIN = U29219DL2009PTC186728

Company & Directors' Information:- K. V. PROJECTS PRIVATE LIMITED [Active] CIN = U70102WB2012PTC188439

Company & Directors' Information:- G R S PROJECTS & INFRASTRUCTURE PRIVATE LIMITED . [Active] CIN = U45200WB2007PTC113238

Company & Directors' Information:- K R S PROJECTS PRIVATE LIMITED [Active] CIN = U70102AP2012PTC082232

Company & Directors' Information:- B S C PROJECTS PRIVATE LIMITED [Active] CIN = U45200DL2011PTC227768

Company & Directors' Information:- J K PROJECTS PRIVATE LIMITED [Active] CIN = U45203GJ2001PTC039576

Company & Directors' Information:- F C C PROJECTS PRIVATE LIMITED [Active] CIN = U29248UP1982PTC005786

Company & Directors' Information:- S N PROJECTS LIMITED [Active] CIN = U85110KA1996PLC021040

Company & Directors' Information:- B. D. PROJECTS PRIVATE LIMITED [Amalgamated] CIN = U45400WB2010PTC147620

Company & Directors' Information:- C & I PROJECTS PRIVATE LIMITED [Active] CIN = U29100DL2010PTC209136

Company & Directors' Information:- C & I PROJECTS PRIVATE LIMITED [Active] CIN = U74140DL2010PTC209136

Company & Directors' Information:- C B PROJECTS PRIVATE LIMITED [Active] CIN = U70109WB1997PTC085237

Company & Directors' Information:- G G PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL1998PTC091501

Company & Directors' Information:- V M G PROJECTS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45400WB2011PTC164117

Company & Directors' Information:- M. L. PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2010PTC151513

Company & Directors' Information:- R N D PROJECTS PRIVATE LIMITED [Active] CIN = U70102DL1996PTC080051

Company & Directors' Information:- K M B INFRASTRUCTURE PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45203TZ2002PTC010399

Company & Directors' Information:- M. K. N. PROJECTS PRIVATE LIMITED [Active] CIN = U70101DL2009PTC196755

Company & Directors' Information:- M B R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45300KA2009PTC049005

Company & Directors' Information:- G S P PROJECTS PRIVATE LIMITED [Active] CIN = U45201WB1992PTC057116

Company & Directors' Information:- K P S PROJECTS PRIVATE LIMITED [Active] CIN = U70102TG2005PTC046280

Company & Directors' Information:- E AND V PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70102TG2004PTC042622

Company & Directors' Information:- T M R PROJECTS PRIVATE LIMITED [Active] CIN = U45400DL2010ULT211007

Company & Directors' Information:- P A PROJECTS PRIVATE LIMITED [Active] CIN = U45208WB1997PTC083907

Company & Directors' Information:- N K D PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2008PTC128819

Company & Directors' Information:- A I PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45203WB2000PTC091229

Company & Directors' Information:- P N PROJECTS PRIVATE LIMITED [Active] CIN = U45202DL2016PTC289494

Company & Directors' Information:- V AND M PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL2005PTC139731

Company & Directors' Information:- K K PROJECTS PVT LTD [Strike Off] CIN = U70200WB1995PTC073058

Company & Directors' Information:- S L PROJECTS PRIVATE LIMITED [Active] CIN = U45400AN2009PTC000109

Company & Directors' Information:- PROJECTS PVT LTD [Strike Off] CIN = U45201WB1951PTC019759

Company & Directors' Information:- V K M PROJECTS PRIVATE LIMITED [Active] CIN = U45400UP2011PTC045725

Company & Directors' Information:- K P PROJECTS PVT LTD [Active] CIN = U70101WB1996PTC077397

Company & Directors' Information:- C R PROJECTS PRIVATE LIMITED [Active] CIN = U45400PB2009PTC032572

Company & Directors' Information:- N D B K PROJECTS (INDIA) PRIVATE LIMITED [Active] CIN = U27100PB2012PTC036987

Company & Directors' Information:- N P R PROJECTS INDIA PRIVATE LIMITED [Strike Off] CIN = U45400TN2012PTC086360

Company & Directors' Information:- G P N PROJECTS PRIVATE LIMITED [Strike Off] CIN = U18101TZ2006PTC012749

Company & Directors' Information:- D H V PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45200TG2005PTC045988

Company & Directors' Information:- V K R PROJECTS PRIVATE LIMITED [Active] CIN = U45200TG2005PTC046370

Company & Directors' Information:- I N C PROJECTS PRIVATE LIMITED [Active] CIN = U70109WB2005PTC101620

Company & Directors' Information:- J. S. PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2009PTC136510

Company & Directors' Information:- H C S INFRASTRUCTURE PROJECTS PRIVATE LIMITED [Active] CIN = U45209CH2011PTC032723

Company & Directors' Information:- D J PROJECTS PRIVATE LIMITED [Active] CIN = U15201DL2005PTC134979

Company & Directors' Information:- M S C K PROJECTS PRIVATE LIMITED [Converted to LLP] CIN = U70101DL2005PTC135407

Company & Directors' Information:- B R T PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45203TG1996PTC025021

Company & Directors' Information:- T AND M PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201KA2008PTC045199

Company & Directors' Information:- S AND S INFRASTRUCTURE PROJECTS INDIA PRIVATE LIMITED [Strike Off] CIN = U45203KA2007PTC042147

Company & Directors' Information:- A C G PROJECTS PRIVATE LIMITED [Active] CIN = U45201UP1999PTC024162

Company & Directors' Information:- C K B PROJECTS INDIA LIMITED [Strike Off] CIN = U70102WB2012PLC188740

Company & Directors' Information:- N E PROJECTS LTD [Strike Off] CIN = U16009AS1999PLC005873

Company & Directors' Information:- D R PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL2001PTC109612

Company & Directors' Information:- I J PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70102KA2009PTC049320

Company & Directors' Information:- G C N PROJECTS PRIVATE LIMITED [Active] CIN = U45200KA2011PTC061371

Company & Directors' Information:- L N PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45200TG2004PTC043064

Company & Directors' Information:- H B PROJECTS PVT LTD [Amalgamated] CIN = U45201WB1993PTC058846

Company & Directors' Information:- I. T. G PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC063342

Company & Directors' Information:- P. S. PROJECTS PRIVATE LIMITED [Converted to LLP and Dissolved] CIN = U70109WB2011PTC170655

Company & Directors' Information:- A R N PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45202MH2010PTC199122

Company & Directors' Information:- S P PROJECTS (INDIA) PRIVATE LIMITED [Active] CIN = U45400DL2010PTC203910

Company & Directors' Information:- J R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70109HR2012PTC045119

Company & Directors' Information:- C N R PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45201KA2007PTC041355

Company & Directors' Information:- INFRASTRUCTURE PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45203DL1997PTC087330

Company & Directors' Information:- A J PROJECTS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45201MH2006PTC164622

Company & Directors' Information:- A N B INFRASTRUCTURE PROJECTS PRIVATE LIMITED [Active] CIN = U45400DL2007PTC162673

Company & Directors' Information:- J M PROJECTS PRIVATE LIMITED [Active] CIN = U45200MP2007PTC019336

Company & Directors' Information:- L S S PROJECTS PRIVATE LIMITED [Active] CIN = U45400UP2013PTC059508

Company & Directors' Information:- A TO Z PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70101DL1995PTC069527

Company & Directors' Information:- G I T T PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201TG2006PTC051193

Company & Directors' Information:- Z & I PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45309TN2007PTC064972

Company & Directors' Information:- B. G. PROJECTS PRIVATE LIMITED [Active] CIN = U45400MH2012PTC231270

Company & Directors' Information:- P S R PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45400TG2015PTC101191

Company & Directors' Information:- C P D PROJECTS INFRASTRUCTURE PRIVATE LIMITED [Strike Off] CIN = U45400UP2011PTC047929

Company & Directors' Information:- E & E PROJECTS PRIVATE LIMITED [Active] CIN = U45400UP2015PTC075033

Company & Directors' Information:- B B R PROJECTS PRIVATE LIMITED [Active] CIN = U45200TG2005PTC045165

Company & Directors' Information:- M V R PROJECTS PRIVATE LIMITED [Active] CIN = U45200TG2005PTC045166

Company & Directors' Information:- L V S PROJECTS PRIVATE LIMITED [Under Process of Striking Off] CIN = U45200TG2010PTC068286

Company & Directors' Information:- R N V PROJECTS PRIVATE LIMITED [Active] CIN = U70102UP2011PTC044240

Company & Directors' Information:- K L PROJECTS PRIVATE LIMITED [Active] CIN = U27104DL2003PTC119655

Company & Directors' Information:- K S M PROJECTS PRIVATE LIMITED [Active] CIN = U45400DL2009PTC194824

Company & Directors' Information:- 3 G PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400DL2015PTC276736

Company & Directors' Information:- I S R PROJECTS PRIVATE LIMITED [Active] CIN = U74140DL2005PTC138210

Company & Directors' Information:- L V PROJECTS PRIVATE LIMITED [Active] CIN = U74140DL2014PTC272838

Company & Directors' Information:- M K PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201DL2002PTC117787

Company & Directors' Information:- B V M PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC131352

Company & Directors' Information:- K. J. S. PROJECTS PRIVATE LIMITED [Active] CIN = U70109DL2006PTC152898

Company & Directors' Information:- V N R PROJECTS PRIVATE LIMITED. [Active] CIN = U45400AP2008PTC060896

Company & Directors' Information:- C R R PROJECTS PRIVATE LIMITED [Active] CIN = U45400AP2015PTC097217

Company & Directors' Information:- A R P PROJECTS PRIVATE LIMITED [Active] CIN = U45200HR2012PTC044979

Company & Directors' Information:- H V PROJECTS PVT LTD [Active] CIN = U45202HR1997PTC033617

Company & Directors' Information:- V & V PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70109KA2005PTC037578

Company & Directors' Information:- M S S PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45202KA2005PTC037905

Company & Directors' Information:- C AND T PROJECTS PRIVATE LIMITED [Strike Off] CIN = U74140GJ2009PTC057480

Company & Directors' Information:- A AND B PROJECTS PRIVATE LIMITED [Active] CIN = U45201GJ2007PTC051077

Company & Directors' Information:- B. P. S. R. PROJECTS PRIVATE LIMITED [Active] CIN = U70109RJ2018PTC063238

Company & Directors' Information:- R M S PROJECTS PVT LTD [Strike Off] CIN = U74210DL1975PTC007946

Company & Directors' Information:- A. R. PROJECTS PRIVATE LIMITED [Strike Off] CIN = U40200DL2007PTC161559

    C.S. No. 205 of 2017

    Decided On, 12 June 2019

    At, High Court of Judicature at Calcutta

    By, THE HONOURABLE MR. JUSTICE SHEKHAR B. SARAF

    For the Plaintiff: Jishnu Chowdhury, Subhra Das, Arundhati Mukherjee, Sankarsan Sarkar, Advocates. For the Defendant: -----



Judgment Text

1. The plaintiff is a company incorporated under the provisions of the Companies Act, 1956 having its registered office at 79, Shambhunath Pandit Street, Kolkata - 700020 and carrying on business from Room No. 527, Poddar Court, 18, Rabindra Sarani, Kolkata - 700001 [hereinafter referred to as 'plaintiff company'] engaged in the business of the construction and real estate. Wherein, on the other hand defendant is a company incorporated under the provisos of the Companies Act, 1956, having its registered office at Plot No. 638, Urla Industrial Complex, Raipur - 493221 [hereinafter referred to as 'defendant company'] engaged in the similar line of business as that of the plaintiff company. The plaintiff company has instituted this suit against the defendant company praying for a decree of Rs. 2,32,20,000/- (Rupees Two Crore Thirty Two Lakhs Twenty Thousand Only), which includes the principle outstanding amount due to the plaintiff company and also interest @ 18% p.a. is calculated from 23rd August, 2013 to 28th August, 2017. And further the plaintiff company has also prayed for interest pendente lite till the date of realization of amount.

2. The chronological facts leading to the instant case in delineated below:

a. The plaintiff company and the defendant company entered into an agreement dated 28th August, 2013. Wherein, plaintiff company and the defendant company were to jointly develop properties situated at Raipur.

b. On 28th August, 2013 the plaintiff company transferred an amount of Rs. 15,00,000/- (Rupees Fifteen Lakhs Only) through Real Time Gross Transfer (RTGS) from an account maintained at ICICI Bank, Chowringhee Branch, Kolkata - 700016 to the defendant company's bank account. The payment was made under the agreement dated 28th August, 2013.

c. Subsequently, in the month of April, 2014 the plaintiff company and the defendant company met at the office of plaintiff company situated at Room No. 527, Poddar Court, 18, Rabindra Sarani, Kolkata - 700001. Wherein, it was orally agreed between the plaintiff company and the defendant company that the defendant company would look into the construction work and the plaintiff company would lend a sum of Rs. 1,35,00,000/- (Rupees One Crore and Thirty Five Lakhs Only) inclusive of Rs. 15,00,000/- (Rupees Fifteen Lakhs Only) already paid by the plaintiff company to the defendant company on 28th August, 2013. The loan amount was offered for a period of 2 years and interest to be calculated at the rate of 18% per annum.

d. Plaintiff company subsequent to this oral agreement advanced a sum of Rs. 1,20,00,000 (Rupees One Crore Twenty Lakhs Only) to the defendant through Real Time Gross Transfer (RTGS) between 28th April, 2015 to 24th March, 2015 from an account maintained at ICICI Bank, Chowringhee Branch, Kolkata - 700016 to the defendant company.

e. The defendant company after two years failed to pay the sum due to the plaintiff company and also the defendant company did not take any steps with respect to the agreement dated 28th August, 2013. Despite various attempts made by the plaintiff company through its advocate the defendant company failed to pay the sum due. Hence, the suit.

3. The Deputy Registrar on the request of the plaintiff certified that the defendant has not entered appearance either in person or through its advocate as on 16th January, 2019, in spite of substituted service by way of publication in the newspaper pursuant to the Order dated 13th December, 2018. Thus, following the order of this court dated 4th February, 2019, the matter was fixed for hearing as 'Undefended Suit'.

4. The sole point of consideration before this court is whether the plaintiff company is entitled to get the decree prayed for.

5. Mr. Aditya Kumar Lakhotia, the general manager of the plaintiff company, has been examined as a witness on behalf of the plaintiff company. It transpires from the certified copies of the bank statement of the plaintiff company maintained at ICICI Bank, Chowringhee Branch, Kolkata - 700016 which has been collectively marked as Exhibit "A" that the plaintiff company on various occasions has duly made the payments to the defendant company through Real Time Gross Transfer (RTGS). During the examination of the witness of the plaintiff company has deposed that the defendant company in their balance sheet had shown that an amount of Rs. 1,35,00,000/- (One Crore Thirty Five Lakhs Only) is outstanding in terms of the loan taken from the plaintiff company, the Registrar of Companies certified the copies of the balance sheet of the defendant company for the financial year 2014 - 2015 and also for the financial year 2017 - 2018 which has been tendered and marked collectively as Exhibit "B" and Exhibit "C" respectively. Further, it is deposed by the witness that the plaintiff company has confirmed the registered address of the defendant company through the website of Ministry of Corporate Affairs and the same has been marked as Exhibit "D".

6. The plaintiff company by a letter dated 13th December, 2016, demanded the principal sum of Rs. 1,35,00,000/- (One Crore Thirty Five Lakhs Only) along with interest at the rate of 18% per annum from the defendant company as well as from its two directors, namely, Mr. Rajendra Kumar Kedia and Mr. Rahul Kedia. The said notice was sent through Speed Post to the defendant company and the directors, wherein, the said notice was returned with the endorsement "refused" but the said notice was duly served upon the two directors of the defendant company, namely, Mr. Rajendra Kumar Kedia and Mr. Rahul Kediaand the same has been collectively marked as Exhibit "E". Further the witness deposed that another attempt was made to serve notice of demand to the defendant company through an e-mail dated 14th December, 2016 addressing the two directors of the defendant company on their official e-mail address. The letter dated 13th December, 2016 was sent as an attachment to the said e-mail dated 14th December, 2016. The said e-mail was successfully served on the official email address of the two directors of the defendant company and the copy of the same has been marked as Exhibit "F".

7. A legal notice dated 1st March, 2017 was issued by the plaintiff company through their advocate against the defendant company with respect to the amount of Rs. 1,35,00,000/- (One Crore Thirty Five Lakhs Only) along with the interest at the rate of 18 % per annum which is outstanding and the same has been marked as Exhibit "G" and Exhibit "H". The witness during the Examination-in-Chief deposed that the defendant company through its advocate has issued notice regarding the appointment of arbitrator with regards to the agreement dated 28th August, 2013 upon the plaintiff company. And the copy of such letter is marked as Exhibit "I" and Exhibit "J" respectively.

8. I have heard the counsel appearing for the plaintiff company and have perused the materials on record.

9. In my opinion the defendant company has never denied and in fact has admitted to have received a loan amount of Rs. 1,35,00,000/- (Rupees One Crore and Thirty Five Lakhs Only) from the plaintiff company. In any case, the disbursement of the loan amount of Rs. 1,35,00,000/- (Rupees One Crore and Thirty Five Lakhs Only) has been adequately proved by the plaintiff company. The defendant has not repaid the loan or any part thereof despite several reminders and the letter issued by the Advocate of the plaintiff company.

10. In my view the interest sort by the plaintiff, that is, at the rate of 18% per annum,

Please Login To View The Full Judgment!

is not backed by any written documentary evidence, and accordingly, I am of the view that the interest claimed by the plaintiff company in the present suit is neither justified nor proved. Hence, interest at the rate of 9% per annum would serve the ends of justice in the present case. 11. In the above circumstances the plaintiff is entitled to a decree of Rs. 1,35,00,000/- (Rupees One Crore and Thirty Five Lakhs Only) along with interest to be calculated at the rate of 9% per annum from 24th March, 2015 till the date of realisation of the principal amount. 12. There shall no orders as to costs. The department is directed to draw up the decree expeditiously. 13. Urgent photostat certified copy of this judgment, if applied for, should be made available to the parties upon compliance with the requisite formalities.
O R