1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.3207 OF 1997 The National Small Indn. Corpn.Ltd. ...Plaintiff. Versus Shree Ram Chavan & Anr. ...Defendant. ....... Ms.Usha R. Tiwari for the Plaintiff. None for the Defendant. ...... CORAM : DR. D.Y. CHANDRACHUD, J. July 20, 2009. P.C.: An Agreement of Hire Purchase was entered into by the Plaintiff with the First Defendant on 12th November 1987. Pursuant thereto, the Plaintiff delivered to the First Defendant certain machineries, more particularly described in Schedule I thereto. The Defendants were liable to pay the hire purchase value of the machinery in thirteen half yearly instalments together with interest at 13% per annum and in default, to pay interest at 15% per annum. Upon the payment of all the instalments, the First Defendant was entitled to exercise an option to become the owner of the machinery. 2 The machinery was supplied to the First Defendant. The First Defendant committed a default, upon which, the machinery was seized by the Plaintiff and was sold for an amount of Rs.1,15,000/- plus sales tax to M/s.Balcon Company, Nagpur. The Plaintiff has averred that the usual procedure was followed and the money recovered was applied towards hire purchase instalments. Thereupon, the Defendants were called upon to pay resultant losses to the Plaintiff. The suit has been instituted for the recovery of an amount of Rs.2,36,661/- together with interest on the principal sum at Rs.1,58,961/-. 2. The Defendants have been served with the writ of summons. No Written Statement has been filed. The averments contained in the plaint, therefore, have not been controverted. The Plaintiff has relied upon an affidavit in lieu of the Examination-in- Chief and a compilation of the original documents. On the basis thereof, the claim is duly proved. The suit shall accordingly stand decreed in terms of prayer clauses (a) and (b) with the modification 3 that the Plaintiff shall be entitled to interest at the rate of 9% p.a. on the principal sum of Rs.1,58,961/- from the date of the suit, until payment or realization. ......