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



Sai Smaran Foods Ltd. v/s Katwa Cold Storage Pvt. Ltd. & Others


Company & Directors' Information:- U FOODS (INDIA) PRIVATE LIMITED [Active] CIN = U15122HR2014PTC052466

Company & Directors' Information:- R J COLD STORAGE PRIVATE LIMITED [Active] CIN = U74899DL1992PTC049659

Company & Directors' Information:- SAI SMARAN FOODS LIMITED [Active] CIN = U15140MH1993PLC072166

Company & Directors' Information:- L. C. FOODS LIMITED [Active] CIN = U15311UP2003PLC027779

Company & Directors' Information:- G R M FOODS PRIVATE LIMITED [Active] CIN = U51909DL2013PTC258760

Company & Directors' Information:- M S FOODS PRIVATE LIMITED [Active] CIN = U15311PB1998PTC021352

Company & Directors' Information:- L V P FOODS PRIVATE LIMITED [Active] CIN = U45200DL2006PTC156229

Company & Directors' Information:- S. D. COLD STORAGE PRIVATE LIMITED [Active] CIN = U15132UP1995PTC018791

Company & Directors' Information:- E K FOODS PRIVATE LIMITED [Active] CIN = U15400KL2010PTC026631

Company & Directors' Information:- H C S FOODS LIMITED [Active] CIN = U15143PB1994PLC014898

Company & Directors' Information:- V R V FOODS LIMITED [Not available for efiling] CIN = U15490DL1992PLC050097

Company & Directors' Information:- R AND A FOODS PRIVATE LIMITED [Active] CIN = U85199MH2002PTC135701

Company & Directors' Information:- J V S FOODS PRIVATE LIMITED [Active] CIN = U63023RJ1995PTC010336

Company & Directors' Information:- D R FOODS LIMITED [Active] CIN = U15311HR1989PLC030548

Company & Directors' Information:- A N V FOODS PRIVATE LIMITED [Active] CIN = U15132PB2003PTC025702

Company & Directors' Information:- M L J FOODS PRIVATE LIMITED [Strike Off] CIN = U01122RJ1999PTC015684

Company & Directors' Information:- D G COLD STORAGE PRIVATE LIMITED [Active] CIN = U45209WB2001PTC092809

Company & Directors' Information:- D S S I FOODS PRIVATE LIMITED [Active] CIN = U15492DL2004PTC130556

Company & Directors' Information:- N P S COLD STORAGE PRIVATE LIMITED [Active] CIN = U15549WB1997PTC085229

Company & Directors' Information:- G M COLD STORAGE PVT LTD [Active] CIN = U63022WB1986PTC041010

Company & Directors' Information:- L. R. D FOODS PRIVATE LIMITED [Active] CIN = U51220DL2008PTC184112

Company & Directors' Information:- P. B. S. FOODS PRIVATE LIMITED [Active] CIN = U15118HR2005PTC035835

Company & Directors' Information:- G C G COLD STORAGE PRIVATE LIMITED [Active] CIN = U01400MH2012PTC235712

Company & Directors' Information:- M L R FOODS PRIVATE LIMITED [Active] CIN = U74999DL2004PTC130831

Company & Directors' Information:- M V J FOODS INDIA PRIVATE LIMITED [Active] CIN = U15499KL1989PTC005512

Company & Directors' Information:- D P R FOODS PRIVATE LIMITED [Active] CIN = U74899DL2004PTC125332

Company & Directors' Information:- G L FOODS PRIVATE LIMITED [Active] CIN = U15312UP2008PTC034835

Company & Directors' Information:- L P COLD STORAGE PRIVATE LIMITED [Active] CIN = U15133UP1997PTC021864

Company & Directors' Information:- G A FOODS(INDIA) PRIVATE LIMITED [Active] CIN = U01134MH2002PTC135834

Company & Directors' Information:- P D COLD STORAGE PRIVATE LIMITED [Active] CIN = U74900UP2010PTC039698

Company & Directors' Information:- N R S COLD STORAGE PVT LTD [Active] CIN = U63022WB1978PTC031524

Company & Directors' Information:- N P FOODS LIMITED [Under Liquidation] CIN = U15412KA1980PLC003754

Company & Directors' Information:- S M COLD STORAGE PVT LTD [Active] CIN = U63022WB1986PTC040843

Company & Directors' Information:- A TO Z COLD STORAGE PRIVATE LIMITED [Active] CIN = U15122UP2010PTC040956

Company & Directors' Information:- A-1 COLD STORAGE PRIVATE LIMITED [Active] CIN = U74900TG2015PTC100777

Company & Directors' Information:- D P FOODS PRIVATE LIMITED [Active] CIN = U15496UP1997PTC022804

Company & Directors' Information:- G J FOODS PRIVATE LIMITED [Strike Off] CIN = U74899DL1997PTC087850

Company & Directors' Information:- R A FOODS PRIVATE LIMITED [Strike Off] CIN = U52209TN2012PTC084881

Company & Directors' Information:- P & N FOODS PRIVATE LIMITED [Not available for efiling] CIN = U15400KA1984PTC005803

Company & Directors' Information:- D N COLD STORAGE PRIVATE LIMITED [Active] CIN = U15133UP1989PTC010708

Company & Directors' Information:- P S COLD STORAGE PRIVATE LIMITED [Active] CIN = U15139UP2001PTC026373

Company & Directors' Information:- S C P FOODS PRIVATE LIMITED [Active] CIN = U15319WB2005PTC102405

Company & Directors' Information:- K S P FOODS PRIVATE LIMITED [Active] CIN = U74899DL2000PTC108818

Company & Directors' Information:- K. M. M. FOODS PRIVATE LIMITED [Active] CIN = U15410GJ2007PTC050576

Company & Directors' Information:- N L COLD STORAGE PRIVATE LIMITED [Strike Off] CIN = U63022ML2001PTC006536

Company & Directors' Information:- K H I COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022DL1999PTC100373

Company & Directors' Information:- K J COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022PB1996PTC018274

Company & Directors' Information:- R C FOODS INDIA PRIVATE LIMITED [Active] CIN = U01112MH2009PTC195211

Company & Directors' Information:- D M FOODS PRIVATE LIMITED [Active] CIN = U15432DL1997PTC090654

Company & Directors' Information:- M H FOODS PRIVATE LIMITED [Active] CIN = U15134MH2002PTC134855

Company & Directors' Information:- V K COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022RJ1998PTC014964

Company & Directors' Information:- R M COLD STORAGE PRIVATE LIMITED [Active] CIN = U15133UP1999PTC024532

Company & Directors' Information:- S L P COLD STORAGE PRIVATE LIMITED [Converted to LLP] CIN = U00063KA1997PTC022544

Company & Directors' Information:- M D COLD STORAGE PRIVATE LIMITED [Active] CIN = U15133UP2001PTC025987

Company & Directors' Information:- S N COLD STORAGE PVT LTD [Active] CIN = U15132WB1977PTC031040

Company & Directors' Information:- A K COLD STORAGE PRIVATE LIMITED [Active] CIN = U15133UP1999PTC024374

Company & Directors' Information:- G. T. COLD STORAGE PRIVATE LIMITED [Active] CIN = U70101UP1999PTC024239

Company & Directors' Information:- L R FOODS PRIVATE LIMITED [Active] CIN = U15412DL1997PTC090433

Company & Directors' Information:- D R A FOODS PRIVATE LIMITED [Active] CIN = U15201DL1998PTC092895

Company & Directors' Information:- S K FOODS PRIVATE LIMITED [Strike Off] CIN = U74999DL2015PTC277837

Company & Directors' Information:- K L M FOODS PRIVATE LIMITED [Active] CIN = U15339DL2004PTC123823

Company & Directors' Information:- K D S FOODS PRIVATE LIMITED [Active] CIN = U15312PB1996PTC017939

Company & Directors' Information:- A K R FOODS PRIVATE LIMITED [Amalgamated] CIN = U15135TZ1999PTC009061

Company & Directors' Information:- R. P. INDIA FOODS PRIVATE LIMITED [Active] CIN = U74899DL1996PTC077576

Company & Directors' Information:- G D COLD STORAGE PRIVATE LIMITED [Strike Off] CIN = U63022WB1997PTC084601

Company & Directors' Information:- J S COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022PB1997PTC020250

Company & Directors' Information:- B C COLD STORAGE PRIVATE LIMITED [Active] CIN = U45302PB1997PTC019355

Company & Directors' Information:- V T FOODS PRIVATE LIMITED [Active] CIN = U15134GJ2003PTC042638

Company & Directors' Information:- M K R FOODS PRIVATE LIMITED [Active] CIN = U55100MH2005PTC154030

Company & Directors' Information:- G S P COLD STORAGE PRIVATE LIMITED [Active] CIN = U74899DL1995PTC069618

Company & Directors' Information:- C R FOODS (INDIA) PVT LTD [Active] CIN = U74899DL1987PTC029749

Company & Directors' Information:- R R COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022TZ1995PTC006478

Company & Directors' Information:- R L FOODS PRIVATE LIMITED [Strike Off] CIN = U15201DL2005PTC133402

Company & Directors' Information:- A & A FOODS PRIVATE LIMITED [Converted to LLP] CIN = U24231TN1992PTC022027

Company & Directors' Information:- D F I FOODS PRIVATE LIMITED [Strike Off] CIN = U51311MP2000PTC013984

Company & Directors' Information:- U N FOODS PRIVATE LIMITED [Strike Off] CIN = U15139RJ2008PTC026953

Company & Directors' Information:- G R FOODS PRIVATE LIMITED [Active] CIN = U55100MH2005PTC157356

Company & Directors' Information:- H J COLD STORAGE PRIVATE LIMITED [Strike Off] CIN = U63022WB1999PTC089452

Company & Directors' Information:- SAI COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022PB2006PTC030636

Company & Directors' Information:- B K COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022PB1997PTC020070

Company & Directors' Information:- N R S FOODS PRIVATE LIMITED [Active] CIN = U15316RJ2001PTC017167

Company & Directors' Information:- M S G FOODS PRIVATE LIMITED [Dormant under section 455] CIN = U15432KL1996PTC010870

Company & Directors' Information:- J T S COLD STORAGE PRIVATE LIMITED [Active] CIN = U74900UP2011PTC044733

Company & Directors' Information:- P K FOODS PVT LTD [Active] CIN = U74899DL1981PTC013374

Company & Directors' Information:- COLD STORAGE CORPORATION OF INDIA LIMITED [Active] CIN = U25193UP1946PLC001472

Company & Directors' Information:- R AND C FOODS PRIVATE LIMITED [Active] CIN = U55202CH2003PTC025935

Company & Directors' Information:- M K R S S COLD STORAGE PRIVATE LIMITED [Active] CIN = U63090WB2020PTC241530

Company & Directors' Information:- SAI FOODS PRIVATE LIMITED [Active] CIN = U74900DL2013PTC249185

Company & Directors' Information:- D R S FOODS PRIVATE LIMITED [Active] CIN = U51909UP2020PTC134804

Company & Directors' Information:- R G P COLD STORAGE PRIVATE LIMITED [Active] CIN = U74999KA2006PTC039844

Company & Directors' Information:- K L FOODS PRIVATE LIMITED [Active] CIN = U51221DL2014PTC269095

Company & Directors' Information:- H M FOODS INDIA PRIVATE LIMITED [Active] CIN = U15419DL1996PTC075052

Company & Directors' Information:- J P G A COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022PB2005PTC028831

Company & Directors' Information:- T & A FOODS PRIVATE LIMITED [Active] CIN = U15400DL2015PTC288581

Company & Directors' Information:- N P S FOODS PRIVATE LIMITED [Strike Off] CIN = U15411DL1997PTC089943

Company & Directors' Information:- R B COLD STORAGE PRIVATE LIMITED [Active] CIN = U63022BR1979PTC001418

Company & Directors' Information:- H & H FOODS PRIVATE LIMITED [Strike Off] CIN = U15549TN2014PTC096510

Company & Directors' Information:- N J COLD STORAGE PRIVATE LIMITED [Active] CIN = U63020DL2010PTC207001

Company & Directors' Information:- S S INDIA FOODS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC074907

Company & Directors' Information:- G M COLD STORAGE PVT LTD [Strike Off] CIN = U63022OR1985PTC001574

Company & Directors' Information:- S. R. G. FOODS PRIVATE LIMITED [Strike Off] CIN = U15134UP2005PTC031137

Company & Directors' Information:- KATWA COLD STORAGE PVT. LTD. [Strike Off] CIN = U45201WB1994PTC062674

Company & Directors' Information:- D AND A FOODS PRIVATE LTD [Amalgamated] CIN = U74899DL1985PTC022422

Company & Directors' Information:- H R M FOODS PRIVATE LIMITED [Active] CIN = U15312DL2003PTC121450

Company & Directors' Information:- S V S COLD STORAGE PRIVATE LIMITED [Strike Off] CIN = U74999AP1999PTC033134

Company & Directors' Information:- U & J FOODS PRIVATE LIMITED [Strike Off] CIN = U55101KA2011PTC057395

Company & Directors' Information:- K J M FOODS PRIVATE LIMITED [Active] CIN = U15499KL2009PTC024915

Company & Directors' Information:- Z & M FOODS PRIVATE LIMITED [Active] CIN = U15135MH2020PTC350999

Company & Directors' Information:- A B M FOODS PRIVATE LIMITED [Strike Off] CIN = U15146WB1997PTC084803

Company & Directors' Information:- D G FOODS PVT LTD [Strike Off] CIN = U15212CH1994PTC014250

Company & Directors' Information:- R V COLD STORAGE PVT LTD [Strike Off] CIN = U15133UP1988PTC010122

Company & Directors' Information:- R & G FOODS PRIVATE LIMITED [Strike Off] CIN = U52599TN1994PTC027222

Company & Directors' Information:- V K FOODS PRIVATE LIMITED [Strike Off] CIN = U15494TZ1987PTC002066

Company & Directors' Information:- G & G FOODS LIMITED [Strike Off] CIN = U15139PN2007PLC129397

Company & Directors' Information:- V L S COLD STORAGE PRIVATE LIMITED [Strike Off] CIN = U63010TG2011PTC072072

Company & Directors' Information:- Z FOODS INDIA PRIVATE LIMITED [Strike Off] CIN = U15490CH2012PTC033655

Company & Directors' Information:- A H M FOODS PRIVATE LIMITED [Active] CIN = U15135DL2003PTC121510

Company & Directors' Information:- J J K FOODS LIMITED [Strike Off] CIN = U15316DL2001PLC113088

Company & Directors' Information:- K A FOODS PVT LTD [Strike Off] CIN = U15412KL1990PTC005615

Company & Directors' Information:- P S J K FOODS PRIVATE LIMITED [Strike Off] CIN = U55204TN2010PTC078193

Company & Directors' Information:- T AND H FOODS PRIVATE LIMITED [Active] CIN = U15549RJ2016PTC056262

Company & Directors' Information:- M H T FOODS PRIVATE LIMITED [Strike Off] CIN = U01132WB1989PTC047307

Company & Directors' Information:- K G B FOODS PRIVATE LIMITED [Strike Off] CIN = U15419DL1999PTC101416

Company & Directors' Information:- S A S FOODS PVT LTD [Strike Off] CIN = U15412DL2001PTC111991

Company & Directors' Information:- B G FOODS PRIVATE LIMITED [Strike Off] CIN = U15499PN2000PTC014895

Company & Directors' Information:- M Y COLD STORAGE PRIVATE LIMITED [Active] CIN = U15122UP2012PTC053516

Company & Directors' Information:- G N G FOODS PRIVATE LIMITED [Active] CIN = U15400MP2011PTC025335

Company & Directors' Information:- K B J FOODS (INDIA) PVT LTD [Strike Off] CIN = U15400DL1984PTC017830

Company & Directors' Information:- B I A FOODS PRIVATE LIMITED [Strike Off] CIN = U65921KA1997PTC023180

Company & Directors' Information:- K E FOODS PRIVATE LIMITED [Strike Off] CIN = U51109PB1999PTC023095

Company & Directors' Information:- T S FOODS PRIVATE LIMITED [Strike Off] CIN = U51109UP1989PTC011321

Company & Directors' Information:- N G FOODS PRIVATE LIMITED [Strike Off] CIN = U15135DL1993PTC054013

Company & Directors' Information:- V I P FOODS PVT LTD [Strike Off] CIN = U99999MH1982PTC028928

Company & Directors' Information:- G. FOODS (INDIA) PVT. LTD. [Strike Off] CIN = U15419HR1998PTC033987

Company & Directors' Information:- N J R FOODS PRIVATE LIMITED [Strike Off] CIN = U15549DL1999PTC102152

Company & Directors' Information:- B S FOODS PVT LTD [Active] CIN = U15499TG1984PTC005060

Company & Directors' Information:- C R J FOODS PRIVATE LIMITED [Strike Off] CIN = U74120UP2014PTC064576

Company & Directors' Information:- P M FOODS PRIVATE LIMITED [Strike Off] CIN = U15419DL2003PTC119878

Company & Directors' Information:- J C FOODS PRIVATE LIMITED [Strike Off] CIN = U15311CH2000PTC023914

Company & Directors' Information:- V P S FOODS PRIVATE LIMITED [Active] CIN = U15136DL2004PTC127000

Company & Directors' Information:- R B M FOODS PRIVATE LIMITED [Strike Off] CIN = U15412KL2003PTC016089

Company & Directors' Information:- L M FOODS PVT LTD [Strike Off] CIN = U15495OR1994PTC003590

Company & Directors' Information:- M M FOODS PVT LTD [Strike Off] CIN = U51909MH1978PTC019278

Company & Directors' Information:- A R J FOODS PRIVATE LIMITED [Active] CIN = U15316KL2003PTC016731

Company & Directors' Information:- K T COLD STORAGE PRIVATE LIMITED [Strike Off] CIN = U63022NL2001PTC006616

Company & Directors' Information:- D C FOODS INDIA PRIVATE LIMITED [Active] CIN = U55101TN2012PTC088748

Company & Directors' Information:- T R S FOODS PRIVATE LIMITED [Strike Off] CIN = U15490TN2012PTC086629

Company & Directors' Information:- KATWA FOODS PRIVATE LIMITED [Strike Off] CIN = U15122MH2013PTC241605

Company & Directors' Information:- K M K FOODS PRIVATE LIMITED [Strike Off] CIN = U15421MH2012PTC225876

Company & Directors' Information:- B N FOODS PRIVATE LIMITED [Strike Off] CIN = U15122TG2010PTC069791

Company & Directors' Information:- C N FOODS PRIVATE LIMITED [Strike Off] CIN = U15122TG2010PTC069794

Company & Directors' Information:- V M R N FOODS PRIVATE LIMITED [Active] CIN = U15122TG2012PTC078397

Company & Directors' Information:- P & P FOODS PRIVATE LIMITED [Strike Off] CIN = U15490TG2011PTC076070

Company & Directors' Information:- G. V. FOODS PRIVATE LIMITED [Strike Off] CIN = U55204UP2012PTC049459

Company & Directors' Information:- M M COLD STORAGE PRIVATE LIMITED [Strike Off] CIN = U63090TG2013PTC090068

Company & Directors' Information:- M K J FOODS PRIVATE LIMITED [Active] CIN = U55101DL2010PTC204782

Company & Directors' Information:- B A FOODS PRIVATE LIMITED [Strike Off] CIN = U55209DL2012PTC234793

Company & Directors' Information:- G B F FOODS PRIVATE LIMITED [Active] CIN = U15549DL2011PTC228024

Company & Directors' Information:- J. K. FOODS PRIVATE LIMITED [Active] CIN = U15122DL2007PTC157554

Company & Directors' Information:- D. T. FOODS PRIVATE LIMITED [Strike Off] CIN = U15122DL2007PTC158387

Company & Directors' Information:- J N FOODS PRIVATE LIMITED [Active] CIN = U15122DL2007PTC159317

Company & Directors' Information:- B M M FOODS PRIVATE LIMITED [Strike Off] CIN = U15122DL2011PTC222779

Company & Directors' Information:- F R FOODS PRIVATE LIMITED [Strike Off] CIN = U15200DL2008PTC185323

Company & Directors' Information:- D K C FOODS PRIVATE LIMITED [Strike Off] CIN = U15209DL2005PTC136853

Company & Directors' Information:- D B FOODS PRIVATE LIMITED [Strike Off] CIN = U15411DL2005PTC141165

Company & Directors' Information:- V N FOODS PRIVATE LIMITED [Strike Off] CIN = U15419DL2000PTC107109

Company & Directors' Information:- D R V FOODS PRIVATE LIMITED [Strike Off] CIN = U15433DL2008PTC172171

Company & Directors' Information:- N & C FOODS PRIVATE LIMITED [Strike Off] CIN = U51109DL2008PTC178887

Company & Directors' Information:- J M C FOODS PRIVATE LIMITED [Strike Off] CIN = U51229DL2003PTC123697

Company & Directors' Information:- K G P FOODS PRIVATE LIMITED [Strike Off] CIN = U51229DL2004PTC128447

Company & Directors' Information:- G P V FOODS PRIVATE LIMITED [Strike Off] CIN = U01300MP2009PTC022411

Company & Directors' Information:- I S M FOODS PRIVATE LIMITED [Strike Off] CIN = U15400MP2010PTC024972

Company & Directors' Information:- J R D FOODS PRIVATE LIMITED [Strike Off] CIN = U55200GJ2011PTC063553

Company & Directors' Information:- H. R. COLD STORAGE PRIVATE LIMITED [Active] CIN = U63030GJ2016PTC092718

Company & Directors' Information:- V & A FOODS PRIVATE LIMITED [Active] CIN = U15549UP2016PTC084319

Company & Directors' Information:- A K STORAGE PRIVATE LIMITED [Strike Off] CIN = U99999MH1978PTC020884

Company & Directors' Information:- S J FOODS PRIVATE LIMITED [Strike Off] CIN = U15201TN2006PTC061527

Company & Directors' Information:- V B K FOODS PRIVATE LIMITED [Active] CIN = U15495TG2000PTC035909

Company & Directors' Information:- C & C FOODS PRIVATE LIMITED [Strike Off] CIN = U15313DL2006PTC152933

Company & Directors' Information:- COLD STORAGE (INDIA) LTD. [Dissolved] CIN = U99999MH1922PTC000998

Company & Directors' Information:- INDIA COLD STORAGE CO. LTD. [Not available for efiling] CIN = U99999MH1948PLC006673

    C.S. No. 258 of 2017

    Decided On, 17 July 2019

    At, High Court of Judicature at Calcutta

    By, THE HONOURABLE MR. JUSTICE SHEKHAR B. SARAF

    For the Appearing Parties: Sankarsan Sarkar, Debdut Mukherjee, Indradeep Basu, Advocates.



Judgment Text

Shekhar B. Saraf, J.

1. The plaintiff is a company incorporated under the provisions of the Companies Act, 2013 having its registered office at T-50, MIDC, Nanded, Maharashtra - 431603 [hereinafter referred to as 'plaintiff company'] engaged in the business of various kinds of food and food related products. Whereas, the defendant nos. 1 and 2 are companies incorporated under the provisions of the Companies Act, 2013, having its registered office at 19, Synagogue Street, 3rd Floor, Room No. 321, Kolkata - 700001 and 113, Park Street, Poddar Point, Ground Floor, Suite No. 26, Rear Portion, Kolkata - 700016 respectively. Defendant nos. 3 and 4 happen to be the directors of both the defendant company no. 1 and 2 respectively. The plaintiff company has instituted this suit against the defendants praying for a decree of Rs. 1,14,00,000/- (Rupees One Crore Fourteen Lakhs Only) which is the principal amount due alongwith interest pendente lite at the rate of 18% per annum from 1st August, 2015 till the date of realisation of the amount.

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

a. The defendant no. 2 company held 1583.33 Metric Tons of First Grade Potatoes (hereinafter referred to as "the product") which the defendant no. 2 intended to sell to the plaintiff company at the rate of Rs. 6000/- per Metric Ton, thus, aggregating to an amount of Rs. 95,00,000/- (Rupees Ninety-Five Lakhs Only). The product was stored at the cold storage owned by the defendant no. 1 company situated at Katwa, Burdwan.

b. Thereafter, the plaintiff company on 12th February, 2015, entered into a buy back agreement with the defendant no. 2 company, as per which the plaintiff agreed to purchase the product from the defendant no. 2 for a sum of Rs. 95,00,000/- (Rupees Ninety-Five Lakhs Only) with an option to resell the same to the defendants for a sum of Rs. 1,14,00,000/-(Rupees One Crore Fourteen Lakhs Only), payable on or before 31stJuly, 2015.

c. On the same day, that is, on 12th February, 2015, the plaintiff company entered into a written agreement of bailment with the defendant no. 1 company to give custody of the product and ensure that the same was free from any kind of risks arising under any circumstances. Such agreement of bailment recorded that in case of deficiency or loss arising from the product, the defendant no. 1 company would be held liable and would be required to indemnify the plaintiff company as to the complete value of the product. d. The plaintiff company made payment of Rs. 95,00,000/- (Rupees Ninety-Five Lakhs Only) to defendant no.2 company in two installments by way of Real Time Gross Settlement (RTGS) on 4th February, 2015 and 13th February, 2015.

e. In part performance of the aforesaid agreement to buy back the said goods from the plaintiff company, the defendant no. 1 company, being the sister concern of the defendant no. 2 company, issued seven post-dated cheques of an aggregate value of Rs. 85,00,000/- (Rupees Eighty-Five Lakhs Only) to the plaintiff company but the same were returned with the representation of "funds insufficient". The defendant nos. 3 and 4 assured the plaintiff that the balance payment of Rs. 29,00,000/- (Rupees Twenty-Nine Lakhs Only) would be made within 15th February, 2016 but the same went in vain.

f. During January, 2017, the plaintiff came to know that the product which were given in bailment had been misappropriated by the defendants. Upon receipt of such information, the plaintiff conducted an inspection at the cold storage of the defendant no. 1 at Katwa, Burdwan through one of its representatives and found that the cold storage was empty and abandoned. Hence, the suit.

3. The Deputy Registrar on the request of the plaintiff company certified that the defendants did not enter appearance either in person or through its advocate until 20th March, 2019, inspite of substituted service by affixation and publication by the Orders dated 4th July, 2018 and 18th July, 2018 respectively. Thus, the matter was directed to be heard as an undefended suit.

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

5. Mr. Naresh Goenka, the director of the plaintiff company since 1993, has been examined as a witness on behalf of the plaintiff company. it appears from the board resolution of a meeting held on 1st November, 2017 that Mr. Naresh Goenka has been duly authorised by the plaintiff company to depose before this Court for and on behalf of the plaintiff company with regard to this case. The board resolution has been further tendered and marked as Exhibit "E". It transpires from the certified copy of the letter issued by the Chief Manager of Nanded branch of State Bank of India that the plaintiff company had made a payment of Rs. 95,00,000/- (Rupees Ninety-Five Lakhs Only) to the bank account of the defendant no.2 company in two instalments by way of Real Time Gross Settlement (RTGS) on 4th February, 2015 and 13th February, 2015 respectively which has been marked as Exhibit "A". During the examination of the witness of the plaintiff company has deposed that the plaintiff company entered into a Buy Back Agreement dated 12th February, 2015, with the defendant no. 2 company, wherein, the plaintiff company agreed to purchase the product at a sum of Rs. 95,00,000/-(Rupees Ninety-Five Lakhs Only). The parties also agreed, that at the option of the plaintiff company, the defendant no. 2 company would be obliged to Buy Back the entire quantity of the product at a sum of Rs. 1,14,00,000/-(Rupees One Crore Fourteen Lakhs Only), payable on or before 31stJuly, 2015. The agreement has been marked as Exhibit "B" and the signature of the director of the defendant no. 2 company one Mr. Anup Kumar Agarwal (defendant no. 3) has been marked as Exhibit "B/1". Moreover, on the same day an agreement of Bailment was entered into between plaintiff company and the defendant no. 1 company and the same has been tendered and marked as Exhibit "C".

6. The witness during the Examination-in-Chief has deposed that the defendant no. 1 company, being the sister concern of the defendant no. 2 company, issued seven post-dated cheques of an aggregate value of Rs. 85, 00,000/- (Rupees Eighty-Five Lakhs Only) in favour of the plaintiff company but all the seven post-dated cheques were dishonored upon presentation by the plaintiff company and the same were returned unpaid by the plaintiff company banker with the representation "funds insufficient" the same has been tendered and marked as Exhibit "D".

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

8. In my opinion the defendants have never denied and in fact has admitted to have received a sum of Rs. 95,00,000/- (Rupees Ninety- Five Lakhs Only) from the plaintiff company in terms of the agreement dated 12th February, 2015. Therefore, according to the terms of the said agreement the defendants were under an obligation to Buy Back the product for a sum of Rs. 1,14,00,000/- (Rupees One Crore Fourteen Lakhs Only) in the month of July, 2015. Inspite of such an agreement the defendants have not paid the said sum due to the plaintiff company or any part thereof despite several reminders by the plaintiff company.

9. In my view the interest sought for by the plaintiff company, at the rate of 18% per annum, is not bac

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ked by any 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 8% per annum would serve the ends of justice in the present case. 10. In the above circumstances the plaintiff company is entitled to a decree of Rs. 1,14,00,000/- (Rupees One Crore Fourteen Lakhs Only) along with interest to be calculated at the rate of 8% per annum from 1st August, 2015 till the date of realisation of the principal amount. 11. There shall be no orders as to costs. The department is directed to draw up the decree expeditiously. 12. Urgent photostat certified copy of this judgment, if applied for, should be made available to the parties upon compliance with the requisite formalities.
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