1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL JURISDICTION SUIT NO. 985 OF 1999 Bank of Baroda. .... Plaintiff. V/s. Mr. Rippon Grover, Proprietor of M/s. Grover Concern & Anr. .... Defendants. ....... Ms. Rashmi M. Vaity i/b. Jayant Joshi for the Plaintiff. None for the Defendants. ........ CORAM : DR. D.Y. CHANDRACHUD, J. 09TH JANUARY 2008. P.C. :- The Suit has been instituted for the recovery of an amount of Rs.7,96,905/- due and payable under three credit facilities extended by the Plaintiff to the First Defendant viz. (i) A Packing Credit Demand Loan facility; (ii) A Credit Card facility; and (iii) A temporary Overdraft facility. The Defendant has been served with the writ of summons but has neither entered appearance nor taken steps to defend the suit. 2 The Plaintiff has filed a compilation of the original documents and an affidavit-in-lieu of examination in chief of its Chief Manager. In consideration of credit facilities extended, the First Defendant executed several documents including a Demand Promissory Note dated 2nd February 1995 in the amount of Rs.5 lakhs, a letter of continuing security, an instrument of hypothecation, a letter of undertaking and a letter of acknowledgment of debt all dated 6th October 1997. In respect of the demand loan credit facility situated at 79/3, Sindhi Society, Chembur, Mumbai, the Second Defendant holds the First and had agreed by a letter dated 6th February 1995 to the creation of a second charge in favour of the Plaintiff. The First Defendant had, by a letter of undertaking dated 2nd February 1995 agreed and undertaken to create the second party. Certified copies of the Statement of Account duly certified for the purpose of the Bankers' Books of Evidence Act, 1891 have been placed on the record and produced in evidence. 3 The claim of the Plaintiff has been duly established on the basis of the evidence on the record. The Suit shall accordingly stand decreed in terms of prayer clauses (a) to (f) with the modification that the Plaintiff would be entitled to interest at the rate of 12% per annum from the date of the institution of the suit until payment or realization. -------