At, High Court of Delhi
By, THE HONORABLE JUSTICE: JAYANT NATH
For Petitioner: Kirti Uppal, Senior. Advocate., N.K. Kantawala and Satyender Chahar, Advocates And For Respondents: Raman Kapur, Senior. Advocate. and Paranjay Chopra, Advocate.
I.A. No. 6742/2018
1. This application is filed seeking a decree on admission under Order 13A Rule 3 of the Commercial Courts, Commercial Division and Commercial Appellate Division of the High Courts Act, 2015 for a sum of Rs. 2,25,38,966/-.
2. This suit is filed for recovery of Rs. 4,86,18,363/- along with interest.
3. The learned senior counsel appearing for the plaintiff submits that as per the balance sheet of defendant No. 1 there is an admission and as on 31.03.2015, defendant No. 1 admitted a sum of Rs. 2,25,38,966/- is payable to the plaintiff. He also relies upon the judgments of this court in Shahi Exports Pvt. Ltd. v. CMD Buildtech Pvt. Ltd : 2013 (202) DLT 735 and Bhajan Singh Sharma v. Wimpy International Ltd : 2011 (185) DLT 428 to contend that acknowledgement in the balance sheet by the defendant extends the period of limitation.
4. The learned senior counsel appearing for defendant No. 1 has only raised one submission, namely, the suit is barred by limitation.
5. In Shahi Exports Pvt. Ltd. vs. CMD Buildtech Pvt. Ltd. (supra) this court held as follows:-
"7. It is hardly necessary to cite authorities in support of the well-established position that an entry made in the company's balance sheet amounts to an acknowledgement of the debt and has the effect of extending the period of limitation under section 18 of the Limitation Act, 1963. However, I may refer to only one decision of the learned single judge of this Court (Manmohan, J.) in Bhajan Singh Samra v. Wimpy International Ltd : 185 (2011) DLT 428 for the simple reason that it collects all the relevant authorities on the issue, including some of the judgments cited before me on behalf of the petitioners. This judgment entirely supports the petitioners on this point."
6. In view of the legal position spelt out in judgments noted above, the acknowledgement of the debt in the balance sheet extends the period of limitation. The acknowledgement is as on 31.3.2015. This suit is filed in 2017. The suit is clearly within limitation The present application is allowed.
CS (COMM) 513/2017
7. In view of the above order passed today in IA No. 6742/2018, a decree is passed in favour of the plaintiff against defendant No. 1 for a sum of Rs. 2,25,38,966/-. The plaintiff shall also be entitled to simple interest @ 12% per annum from the date of institution of the suit till the decree. Similarly, the plaintiff shall also be entitled to simple interest @ 12% per annum from the date of decree till recovery. The plaintiff shall also be entitled to cost.
8. As far as defendant N
Please Login To View The Full Judgment!
o. 2 is concerned, he is said to be a director of defendant No. 1. The learned senior counsel for the plaintiff submits that there are grave allegations against defendant No. 2 and they would like to continue the suit against defendant No. 2. 9. List on 17.12.2018 for framing of issues.