1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.1457 OF 1999 The Catholic Syrian Bank Ltd. ..Plaintiff. Vs. N.C. Krishnadasan and others .. Defendants. ..... Ms. Neha Jagtap i/b Mr. Anil Menon for the Plaintiff. None for the Defendants. ..... CORAM: DR. D.Y. CHANDRACHUD, J. 17th January, 2008. P.C. : The First Defendant applied to the Plaintiff for a loan for purchase of a motor vehicle which was proposed to be used as a tourist vehicle. A loan of Rs.1,50,000/- was sanctioned to the First Defendant on 10th March, 1993. The following documents were executed - (i) a promissory note dated 10th March, 1993 by the First Defendant in the amount of Rs.1,50,000/-; (ii) a hypothecation agreement dated 10th March, 1993 by the First Defendant and (iii) a deed of guarantee dated 10th March, 1993 by the Second and Third Defendants. The interest payable was at the rate of 17.34% per annum. The loan was liable to be repaid in sixty equal monthly 2 installments. There was a default on the part of the Defendants. A letter acknowledging the liability to repay the loan and revival letters were executed on 7th March, 1996. Part payments have been made by the Defendants which have been reflected in the statement of account. The suit has been filed for the recovery of the balance due and outstanding together with interest. The Defendants have been served with the writ of summons and an affidavit of service has been filed. The suit has been transferred to the list of undefended suits for want of written statement. The Plaintiff has filed an affidavit in lieu of examination in chief of its Senior Manager and a compilation of the original documents. The compilation contains the documents executed by the Defendants to secure the claim of the Plaintiff as well as the statement of account duly certified. The claim of the Plaintiff has gone uncontroverted and has been duly established on the basis of the evidence on the record. The suit shall accordingly stand decreed as prayed, except 3 with the modification that the Plaintiff will be entitled to interest at the rate of 12% per annum from the date of the suit until payment or realization.