: 1 : USJ IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMARY SUIT NO.2021 OF 2009 M/s. AMI Exports .. Plaintiffs v/s. M/s. Phundipalle Textile Mills .. Defendants ......... Mr. Ganesh M. Shetty for the plaintiffs None for the defendants ......... CORAM : R.Y.GANOO, J. DATE : 13TH APRIL, 2010. P.C. : 1. Original documents are taken on record. Defendants have not filed the Vakalatnama. Hence, Summary Suit was taken up for ex-parte decree. The defendants have in terms of letter dated 1st September 2008, admitted the liability to pay Rs.3 lakhs to the plaintiffs by September 2008 end. Defendants have not paid this amount and that is how the suit is filed. 2. Heard learned advocate Mr. Shetty. Perused the record. The particulars of claim indicate that the plaintiffs have demanded Rs.3 lakhs : 2 : being admitted amount and Rs.1,05,000/- towards interest @ 12% per annum on Rs.3 lakhs from 22nd July, 2006 upto the date of the filing of the suit. Learned advocate Mr. Shetty submitted that because the amount remained unpaid, interest is charged @12% per annum, though plaintiffs could have charged the rate of interest @18% per annum. Considering the record and in particular letter dated 1st September, 2008 there has been an admission on the part of the defendants to pay a sum of Rs.3 lakhs to the plaintiffs. The plaintiffs will have entitled to receive this amount. 3. So far as the interest is concerned, nothing is placed before the Court to show that any interest was payable for non-fulfillment of the terms and conditions of the agreement. Hence, plaintiffs will not be able get the interest up to the date of the decree. So far as the interest after the date of the decree is concerned, looking to the nature of the transaction, namely commercial transaction, defendants can be directed to pay interest @10% per annum. Hence, the following decree is passed. DECREE (i) Defendants do pay to the plaintiffs Rs.3 lakhs by way of principal amount. (ii) Claim of the plaintiffs for interest from 22nd July, 2006 till passing of : 3 : the decree is rejected. (iii) Defendants do pay to plaintiffs interest @10% per annum from the date of the decree till realization. (iv) Defendants do pay to plaintiffs costs of this suit. (v) Refund of Court fee is granted as per Rules. [R.Y.GANOO, J.]