1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.296 OF 1999 Bank of India. ...Plaintiff. Vs. Mr. Kurban T. Madraswala & Ors. ...Defendants. .... Mr.Ajay Khere i/b. M.S. Bodhanwala & Co. for the Plaintiff. None for the Defendant. ..... CORAM :DR.D.Y.CHANDRACHUD, J. January 9, 2008. P.C.: This is a Bank suit for the recovery of an amount of Rs.1,54,247/- together with future interest at the rate of 13% per annum. The case of the Plaintiff is that it had lent and advanced an amount of Rs.1,53,000/- to the First Defendant in consideration whereof the First Defendant executed a Demand Promissory Note agreeing to repay the loan with interest at the rate of 14% per annum, a letter of continuing of security, a letter of lien and set off, and an agreement of hypothecation. The Second and Third Defendants executed a letter of guarantee of 21st March 1996. The loan was availed of by the First Defendant, but was not repaid despite an 2 Advocate's notice dated 25th June 1998. Accordingly, the suit has been instituted. When the Motion for interim relief came up before the Learned Single Judge of this Court on 9th April 1999, the First Defendant appeared in person. The following order was passed : “3. This is a usual Bank suit. The claim of the Bank is around Rs.1,50,000/-. Defendant No.1 who is present in Court has deposited with the Bank a pay order for Rs.20,000/-. He is prepared to pay the the balance amount by instalment of Rs.2,000/- per month. Accordingly, it is ordered that Defendant No.1 shall repay the balance of the loan by monthly instalment of Rs.2,000/- together with interest at the rate of 9% per annum. 4. Defendant No.1 informs the Court that hypothecated stock is not available.” From the order of the Court dated 9th April 1999, it would appear that the First Defendant has admitted the claim, but has failed to pay the amount outstanding. No Written Statement has been filed. An affidavit of service dated 4th September 2007 has been filed. In these circumstances, the Court is constrained to pass a decree under Order 8 Rule 10 of the Code of Civil Procedure, 1908 and the suit shall stand decreed in terms of prayer clauses (a) and (b). 3 Counsel appearing on behalf of the Plaintiff states on instructions that a total amount of Rs.45,000/- was paid by the First Defendant in pursuance of the order dated 9th April 1999 until March 2000 after which defaults were committed. Due credit shall, however, be given of the aforesaid payment of Rs.45,000/-. .....