1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL JURISDICTION SUMMARY SUIT NO. 3000 OF 2007 State Bank of India. .... Plaintiff. V/s. Anjali Anil Gawande & Anr. .... Defendants. ....... Mr. Prasad Das i/b. Goenka Law Association for the Plaintiff. None for the Defendants. ........ CORAM : DR. D.Y. CHANDRACHUD, J. 25TH JANUARY 2008. P.C. :- The suit has been instituted for the recovery of an amount of Rs.1,16,677.59 in pursuance of a loan granted by the Plaintiff to the Defendants. The loan was sanctioned on 26th May 2004. Under the loan agreement dated 29th May 2004, an amount of Rs.1 lakh was payable by 48 monthly equated installments with each of Rs.2670/-. The Second Defendant executed a guarantee. A revival letter dated 3rd 2 October 2006 was executed by the borrower and the guarantor and by a letter dated 3rd October 2006, both promised to regularize the account by depositing the monies in the account on or before 25th December 2006. There has been a default on the part of the borrower in repaying the loan. The suit is based on a written contract and falls within a purview of Order XXXVII of the Code of Civil Procedure, 1908. The Defendants have been served with the writ of summons but have failed to enter appearance. In the circumstances, having regard to the provisions of Order XXXVII Rule 2(3) upon default of the Defendant entering appearance, the allegations in the plaint shall be deemed to be admitted and the Plaintiff shall be entitled to a decree. Counsel appearing on behalf of the Plaintiff has placed on the record a compilation of the original documents. The suit is accordingly decreed in terms of prayer clauses (a) 3 and (b), subject to the modification that the Plaintiff would be entitled to interest at the rate of 12% per annum on the principal sum from the date of the institution of the suit until payment or realization. ------