1 ss2650 SSP IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMARY SUIT NO.2650 OF 2009 Rajabai Gangaram Gadge ...Plaintiff vs. Kathallappa Narsappa ...Defendant Mr.Ashok Varma i/b Mr.Ramesh Jain for the plaintiff None for the defendant CORAM :A.S.OKA,J. DATE : JANUARY 12, 2011 P.C.: 1 The suit is shown under the caption For Exparte Decree . Office noting shows that the affidavit of service of writ of summons has been filed and the appearance has not been entered by the defendant within the time stipulated by law. 2 The suit is based on the Promissory Note dated 10th June 2008 by which the defendant agreed to pay a sum of Rs.75,000/- with interest at the rate of 15% p.a to the plaintiff. Promissory note is executed for valuable consideration of Rs.75,000/- received by the defendant from the plaintiff. 3 The plaintiff has filed on record original demand promissory note, office copy of notice of demand with acknowledgment and a true copy of the money lender s licence. 4 The plaintiff is entitled to the decree in view of 2 ss2650 sub rule 3 of rule 2 of Order XXXVII of the Code of Civil Procedure,1908. The plaintiff has prayed for interest at the rate of 15% p.a. Considering the facts of the case, interest deserves to be granted at the rate of 10% p.a. 5 Hence, the suit is decreed as prayed with modification that the interest will be payable on the principal amount at the rate of 10% p.a from the date of institution of the suit. 6 The plaintiff will be entitled to refund of court fee as per the rules. JUDGE