1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.2312 OF 1996 Indian Bank ..Plaintiff. Vs. Dr. (Mrs.) Yamuna Ashok Kerur and others ..Defendants. .... Ms. Mohana Nair i/b M/s. JMB Partners for the Plaintiff. None for the Defendants. .... CORAM: DR. D.Y. CHANDRACHUD, J. 14th February, 2008. P.C. : 1. This is a bank suit for the recovery of amounts lent and advanced to the First Defendant. The Second and Third Defendants are guarantors. The documents executed by the First Defendant include a promissory note dated 6th January, 1990 in the amount of Rs.5,40,000/- repayable with interest at the rate of 5.5% over the official rate of RBI with a minimum of 5.15% per annum with quarterly rests, a letter of agreement dated 6th January, 1990 and an application cum pledge letter for advance against deposit. The Second and Third Defendants have executed guarantees respectively dated 22nd October, 1992 and 6th January, 1990. There was an acknowledgment of debt respectively by the First 2 and Third Defendants on 22nd October, 1992 and by the First, Second and the Third Defendants on 1st July, 1993. The suit was instituted within limitation within a period of three years of the last acknowledgment on 28th June, 1996. 2. The Defendants have not entered appearance despite service of the writ of summons. An affidavit of service has been filed. The suit has accordingly been transferred to the list of undefended suits. The Plaintiff has placed a compilation of the original documents on the record. The Defendants having failed to enter appearance, the suit shall stand decreed in terms of prayer clause (a) with the modification that the Plaintiff would be entitled to interest at the rate of 9% per annum on the principal sum from the date of the suit until payment or realization and for the costs of the suit. There shall be a refund of Court fees, if any, as per the rules.