1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.3336 OF 1997 Bank of India. ...Plaintiff. Vs. Kishore Sitaram Shinde & Anr. ...Defendants. .... Mr. O.A. Das for the Plaintiff. None for the Defendants. ..... CORAM : DR.D.Y.CHANDRACHUD, J. July 22, 2009. P.C. The Plaintiff sanctioned a Term Loan of Rs.62,000/- to the Defendant for the purchase of a three wheeled vehicle. In consideration of the loan, the Defendant executed an agreement of loan and hypothecation dated 7th February 1995. The loan was repayable by monthly instalments of Rs.1,240/- and was to carry interest at 14.5% p.a. with quarterly rests. The First Defendant executed a letter of continuing guarantee in favour of the Plaintiff. The liability was acknowledged by the First Defendant on 5th August 1996. The loan not having been paid, despite notices of demand, the suit for recovery came to be instituted. 2 The Defendants have been served with the writ of summons, but have failed to enter appearance. The allegations contained in the plaint have, therefore, not been controverted. The Plaintiff has relied upon an affidavit of evidence of its Senior Manager and on a compilation of the original documents The claim has been duly proved on the basis thereof. The compilation contains a certified extract from the statement of account pertaining to the Defendants. The suit shall accordingly stand decreed in terms of prayer clauses (a) and (b) with the modification that the Plaintiff will be entitled to interest at the rate of 12% p.a. from the date of the suit, until payment or realization. The interim order dated 17th December 1999 shall continue to remain in operation pending execution. There shall be a refund of Court fee, if any, as per the rules. ......