- 1 - 10.ss.440.2011 skt IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMARY SUIT NO.440 OF 2011 Dr.Jagannathrao Hegde & Anr. ..Plaintiffs -Versus- M.N.Chaini ..Defendant .......... Mr.Ajay K. J. Panicker i/b Ajay Law Assoc. for the Plaintiffs. None for the Defendant. .......... CORAM : S.J. VAZIFDAR, J. DATE : 28TH JULY 2011. P.C. 1 The suit is filed to recover the amounts lent and advanced by the plaintiffs to the defendant by cheque. 2 The plaintiff, by a letter dated 10th August 2010 demanded payment of the loan of Rs.25,00,000/-. The defendant, by a letter dated 9th September 2010, did not deny having received the loan. The defendant, in fact, agreed to repay the same but subject to the plaintiff’s repaying an amount of Rs.1,75,00,000/-(One crore seventy five lacs) allegedly due to M/s.Jayant Oils Ltd. It appears that M/s.Jayant Oils Ltd. has filed a suit - 2 - 10.ss.440.2011 against the plaintiffs. Once a loan is admitted, it is no defence to state that the defendant is not bound to pay the same till the amounts allegedly due by the plaintiffs to a third party are paid. The defendant is bound to repay the loan amount. The disputes between the plaintiff and a third party are an entirely different matter. 3 The plaintiff has tendered a compilation of documents which is taken on record and marked ‘A’ (colly.) There is however no agreement to pay interest. Interest was demanded by a demand notice dated 25th October 2010 at the rate of 18% per annum. 4 In the circumstances, the suit is decreed as prayed to pay Rs. 25,00,000/- together with interest at the rate of 18% per annum from 25th October 2010 till filing of the suit and thereafter at the rate of 12% per annum and for costs. Costs to be quantified as per rules. 5 Refund of court fees, if any, as per rules.