IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMARY SUIT NO.2695 OF 2003 State Bank of India ...Plaintiffs Vs. Madhu Kirti Purohit & Anr. ...Defendants ----- Mr.Vivek S.Sawant i/b. Kusunakar Kaushik for Plaintiffs ---- CORAM: V.M. KANADE J. DATED: 3RD FEBRUARY, 2010 P.C. 1. Heard the learned Counsel appearing on behalf of the Plaintiffs. None appears on behalf of the Defendants though they were served. 2. The Plaintiffs have filed affidavit of service. The Plaintiffs have also filed affidavit in lieu of evidence along with list of original documents dated 3rd February, 2010. The Defendant No.1 had applied for loan to the tune of Rs.1,50,000/- for renovation and furnishing his house under the personal loan scheme. The proposal of the Defendant No.1 was sanctioned by the Plaintiffs and Defendant No.1 executed a personal loan agreement dated 6.2.2001 and agreed to repay the loan in 36 equal monthly installments of Rs.5,520/- commencing from March, 2001. The Defendant No.1 also executed a demand promissory note and a demand promissory note delivery letter, both dated 6.2.2001 in favour of the Plaintiffs. The Defendant No.2 stood as a guarantor in his personal and individual capacity and executed the guarantee agreement dated 6.2.2001. It is the case of the Plaintiffs that the Defendant No.1, however, did not pay the equal monthly installments as agreed by him and, therefore, the Plaintiffs by their letter dated 10.10.2002 called upon the Defendant No.1 to deposit the arrears amounting to Rs.33,120/-. The Defendant No.1, however, failed to pay the said amount and, therefore, the Plaintiffs served the Defendants a legal notice on 19.12.2002 and called upon the Defendants to pay the outstanding of Rs.1,12,623.78 along with interest at the rate of 14.5% p.a. with quarterly rest with effect from 1.1.2003 and, thereafter, the present suit has been filed. In spite of service of writ of summons, no appearance has been filed within 10 days from the service of writ of summons. 3. Under these circumstances, the Plaintiffs are entitled to a judgment and decree in view of the provisions of Order XXXVII Rule 3(2) of the Civil Procedure Code. Suit of the Plaintiffs is, accordingly, decreed in terms of prayer clause 19 (A). Refund of Court fees be paid to the Plaintiff in accordance with rules. Suit is, accordingly decreed and disposed of. Certified copy is expedited (V.M. KANADE J.)