1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUIT NO. 340 OF 2003 Corporation Bank ...Plaintiffs vs. Vijay Dholakia & Anr. ...Defendants Mr.Praful S. Sawant i/b. Mr.S.N. Acharya for the Plaintiffs. CORAM : V.M. KANADE, J. DATED : JANUARY 12, 2010 P.C. :- 1 Heard Counsel for the plaintiffs. None appears on behalf of the defendants though they are served. No written statement has been filed by the defendants. The plaintiffs have filed affidavit in lieu of evidence and affidavit of documents. The plaintiffs have also filed original documents. 2 The plaintiffs have filed the suit for recovery of an amount of Rs.1,45,027/- from the 2 defendants at the interest rate of 14.50% per annum. The plaintiff is a bank and is carrying on business of advancing loan. The defendant no.1 made a request in writing for a loan to the extent of Rs.2,90,000/- for the purchase of Maruti Zen car. Accordingly, the said amount was paid. The defendant no.1 executed a Demand Promissory Note dated 8th December, 1997 for the said amount. He also executed a Hypothecation Agreement dated 8th December, 1997 and defendant no.2 executed a Guarantee Agreement dated 8th December, 1997. The defendants failed to pay monthly instalments. The plaintiffs, therefore, filed this suit against the defendant nos.1 and 2. 3 The averments made in the plaint are not controverted since no written statement has been filed by the defendants. In view of the affidavit in lieu of evidence and the original documents filed by the plaintiffs, the plaintiffs have made out a case for judgment and decree as claimed by them. 3 4 Suit, therefore, of the plaintiffs is decreed in terms of prayer clause (a), however, with a modification that the plaintiffs would be entitled to get interest at the rate of 14.25% per annum with quarterly rests from the date of the filing of the suit till payment or realization along with costs and other incidental charges. Suit, accordingly, is decreed. The plaintiffs are entitled for refund of court fees in accordance with Rules. 5 Certified copy expedited. (V.M. KANADE, J.)