1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.1118 OF 1994 Central Bank of India. ...Plaintiff. Vs. Mr.Jaffer J. Amlani & Anr. ...Defendants. .... Ms.Pranita Mhatre i/b. M/s.Shaunak Satpute & Co. for the Plaintiff. None for the Defendants. ..... CORAM :DR.D.Y.CHANDRACHUD, J. January 9, 2008. P.C.: The Plaintiff had sanctioned and disbursed to the First Defendant monies under a Cash Credit Facility to the extent of Rs.3,50,000/- and in the amount of Rs.1 lakh under a discounting facility. The First Defendant executed a Promissory Note in the amount of Rs. 4.50 lakhs dated 22nd March 1988, an Agreement of hypothecation, an Agreement for discounting bills and a letter of continuity, all respectively of the same date. The Second Defendant has executed a personal guarantee on 22nd March 1988. The First Defendant utilised the facility granted by the Plaintiff. On the request of the Plaintiff, in the usual course of business, the First Defendant 2 renewed the aforesaid documents. On 15th March 1991, the First Defendant executed a promissory note, agreement of hypothecation and a letter of continuity and the Second Defendant executed a personal guarantee. In October 1991, the First Defendant deposited a sum of Rs.27,000/- in part payment. There was a default in the payment of the balance. A notice of demand was addressed on 12th January 1994 to which there was no reply. As of 1st October 1992, an amount of Rs.5,68,763.28 was due and payable together with future interest. The First Defendant has executed a letter acknowledgement. The Defendants have been served with the writ of Summons. An affidavit of service has been filed. The claim of the Plaintiff has been duly proved by the affidavit in lieu of Examination- in-Chief of the Branch Manager at the Pedder Road Branch. A compilation of the original documents has also been filed. The Plaintiff has lent and advanced moneys to the Defendants. There being a default on the part of the Defendants, the Plaintiff is entitled to the recovery of the amount due. The suit is accordingly decreed in 3 terms of prayer clauses (a), (b) and (c ) with the modification that the Plaintiff is allowed interest at the rate of 12% per annum from 23rd February 1994 until the date of the decree and at the same rate from the date hereof until payment or realisation. .....