1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUIT NO. 4208 OF 2000 ICICI Bank Ltd. ....Plaintiff Versus Prakesh Sadashiv Kulkarni & Ors. ....Defendants Mrs.Nutan V. Desai, Advocate for the Plaintiff. CORAM : R. V. MORE, J. DATE : 27th NOVEMBER, 2009. P.C. : Heard learned Counsel for the Plaintiff. 2. I have perused the affidavit of one- Mr. Divekar, Clerk in the Office of the Advocate- Mrs. Desai and also acknowledgment annexed at Exhibit "A" to the said affidavit. I have further perused the joint affidavit of Mr. Ramakant Satardekar, Special Bailiff and Mr. Nitin Tillu, Branch Manager of Sangli Bank, Chembur Branch. I have also perused the affidavit of Mr. Parab, Bailiff in the Office of the City Court. The first affidavit discloses that Defendant Nos.1 & 4 are served. The second affidavit discloses that Defendant Nos. 1 to 3 are served and the third affidavit again discloses that Defendant No.4 is served. Inspite of service, none of the Defendants have put their appearance in the suit. The Prothonotary & Senior Master by an order dated 30th October, 2007 transferred the present suit to the list of "Undefended Suits". 2 3. The Plaintiff has filed a suit for recovery of an amount of Rs. 86,244/- together with interest at the rate of 14% per annum. It is the case of the Plaintiff that on or about 14th September, 1995, the Defendant No.1 was sanctioned loan of Rs. 88350/- for purchase of computer system with printer. This loan was granted under the scheme i.e. Prime Minister’s Rozgar Yojana for educated unemployed. The Defendant No.1 accordingly executed a demand promissory note, an agreement of secured term loan, a letter of lien & Set-off and two undertakings. The Defendant No.2 and 3 are the sisters of the Defendant No.1. The Defendant Nos.2, 3 & 4 also individually executed letters of guarantee. 5. It is further case of the Plaintiff that an amount of Rs.24,258/- from the Fixed Deposit of the Defendant No.1 was credited to loan account. The Defendant No.2, thereafter, deposited with the Plaintiff an LIC Money Back Policy and under this policy, the Plaintiff received an amount of Rs. 9,048/-. It is the case of the Plaintiff that the balance amount of Rs. 82,013/- was not deposited and therefore, by letter dated 15th July, 2000, the Plaintiff called upon Defendants to pay the balance amount and therefore, the present suit for relief mentioned above is filed. 5. The original Plaintiff i.e. Sangli Bank Limited was subsequently amalgamated in ICICI Bank and therefore, the name of ICICI Bank was substituted in the plaint in accordance with the Order of the High Court passed in the chamber summons. 6. I have perused the affidavit of evidence of Mr. A. S. Puntambekar, Assistant Manager of the Plaintiff-Bank. The said witness has repeated, reaffirmed and reiterated the contents of the plaint. I have also perused the compilation of original documents filed on behalf of the Plaintiff. The following documents are annexed to the Compilation: 1. Demand Promissory Note dated 3rd October, 1997. 3 2. Agreement of Secured Term Loan dated 3rd October, 1997. 3. Letter of Lien and Set-off dated 3rd October, 1997. 4. Undertaking dated 3rd October, 1997. 5. Letter of Guarantee dated 3rd October, 1997 by Defendant No.2. 6. Letter of Guarantee dated 3rd October, 1997 by Defendant No.3. 7. Letter of Guarantee dated 3rd October, 1997 by Defendant No.4. 8. Acknowledgment of Debt dated 22nd January, 1999. 9. Statement of Account maintained by plaintiffs. 10. A copy of circular for rate of interest charged. The aforesaid documents are taken on record and marked as Exhibit – “P-I collectively” for the purpose of identification. The said documents support the Plaintiff’s case. In these facts and circumstances, the suit is decreed interms of prayer clauses (a), (b) & (e). Decree to be drawn up, accordingly. Sd/- (R. V. MORE, J.)