: 1 : IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMONS FOR JUDGMENT NO.262 OF 2007 IN SUMMARY SUIT NO.3112 OF 2006 Vijaya Bank ....Plaintiff V/s. Purshottam V. Chhatpar & Ors. ....Defendants Mr.S.A. Shetty for the Plaintiff. Mrs.B. Bahulayan for the Defendants. CORAM : S.J. VAZIFDAR, J. DATED : 30TH AUGUST, 2008. P.C. : 1. The suit is filed to recover the amounts lent and advanced by the Plaintiff to the Defendant. In respect of the said loan,the Defendant has executed the suit promissory note as well as an agreement. 2. There is no dispute that the documents including the promissory note were executed by the Defendant. The defence is that the documents were executed in blank and were in fact intended in respect of another account. In respect of the other account, the Plaintiff has already adopted proceedings before the D.R.T. and has also taken steps under the : 2 : Securitization Act. It is contended that pursuant to the action under the Securitization Act, the securities have been sold at an undervaluation. 3. The defence is without force. The two transactions are independent of each other. This a personal loan. The proceedings before the D.R.T. pertain to a transaction under the cash credit facility granted to the firm. 4. If there was any illegality in the sale conducted pursuant to the powers exercised under the Securitization Act, the aggrieved party can always take action in respect thereof. This suit is not concerned with the same. 5. It is pertinent to note that there was no reply to the Plaintiff’s advocates notice demanding payment dated 27.6.2006. 6. It was then contended that the suit is not maintainable as it is a suit on account. 7. The submission is not well founded. That an account is maintainable in respect of the loan does not imply that the suit can only be filed at the foot of account. : 3 : 8. In the circumstances, there is no defence to the suit. The Summons for Judgment is made absolute and the suit is decreed as prayed. However, interest after the date of filing of the suit shall be on the basis of simple interest on the principal sum of Rs.4,50,000/-. Refund as per rules.