IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.4207 of 2007 In SUIT NO.149 OF 2007 Bank of India .. Plaintiff V/s Disha Management Institute and Anr .. Defendants Mr.Jose George for Plaintiff None for the defendants CORAM : SHRI K.K.TATED,J. DATE : 22nd August 2008. P.C.: 1. Advocate appearing for the plaintiff pointed out that though Notice of Motion is duly served on defendants they failed to file their reply. Today also nobody present on behalf of the defendants. 2. Plaintiff filed the present suit for recovery of sum of Rs.4,06,500-76 as per Particulars of Claim being Exh.G to the plaint with further interest at the rate of 15% p.a. with quarterly rest from the date of the suit till payment and realisation. 3. It is the case of the plaintiff that defendant no.1 approached the plaintiff’s Khar Branch some time in the second week of January 2004 and requested for Overdraft facility with a limit of Rs.3 lacs towards working capital for the management training institute. Considering the request of the defendants plaintiff : 2 : sanctioned over draft facility amounting to Rs.3 lacs towards working capital for the management training institute upon the defendants executing necessary security documents and subject to certain terms and conditions. 4. Thereafter the defendant failed and neglected to pay the said amount and therefore plaintiff by their notice dated 24-7-2006 called upon the defendants to repay the said amount with interest. In spite of the said notice the defendants failed and neglected to pay the said amount. 5. The present Notice of Motion taken out by the plaintiff for encashment of Central Government Tax Saving 8% Relief Bond 2002 bearing No.SBI/0093/BLA/091931 with State Bank of India, Mumbai Main Branch standing in the name of prop. of defendant no.1. 6. Though Notice of Motion is served on the defendants, there is no reply filed by them. 7. Considering the amount involved in the present suit i.e. more than Rs.4 lacs to be recovered from the defendants, Notice of Motion is made absolute in terms : 3 : of prayer clause (a). The said prayer (a) reads as under :- prayer "(a) that pending the hearing and final disposal of the suit the plaintiff may be permitted to recover/receive the maturity amount under the Central Government Tax saving 8% Relief Bond 2002 bearing No.SBI/0093/BLA/09131 with State Bank of India, Mumbai Main branch standing in the name of Daksha Dinesh Shah mentioned in Exhibit "A" to the Plaint and validly pledged with the plaintiff and appropriate the proceeds towards the suit claim against the defendants". 8. It is made clear that the entire amount realise from the Central Government Tax Saving 8% Relief Bond 2002 to be appropriated towards the principle amount of loan. 9. Notice of Motion disposed of in above terms with no order as to costs. (K.K.Tated, J)