1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.368 OF 1998 The Federal Bank Ltd. ...Plaintiff. Vs. Sanjay Kumar Jalan. ...Defendant. .... Mr. O.A. Das for the Plaintiff. None for the Defendant. ..... CORAM : DR.D.Y.CHANDRACHUD, J. July 22, 2009. P.C. The suit has been instituted for the recovery of a sum due and outstanding to the Plaintiff under a Demand Loan Facility extended to the Defendant. The Defendant by an application dated 31st January 1996 applied for a loan in the amount of Rs.5 lakhs against a pledge of 17,000 equity shares of C.R.B. Capital Markets Ltd. On 31st January 1996, the facility was sanctioned to the Defendant for a period upto 30th January 1997. The shares in question, were de-listed in the share market and it is averred that they are of no value. In consideration of the grant of the load facility, the 2 Defendant executed several documents including a Demand Promissory Note, a letter of pledge of share and security delivery letter. The Defendant defaulted in the payment of the amount due and despite a letter of demand, payment is not made. Accordingly a suit has been instituted. The Defendant has been served with the writ of summons. The Defendant not having entered appearance, the averments in the plaint have not been controverted. The Plaintiff has relied upon an affidavit of evidence of its Branch Manager and on a compilation of the original documents. An affidavit has been filed seeking permission to lead secondary evidence in respect of certain letters (Sr.Nos.7, 8 and 9 of the compilation) which have been misplaced. In the circumstances, permission is granted to the Plaintiff to lead secondary evidence in respect of the aforesaid three letters. The claim has been duly proved on the basis of evidence on record. The suit accordingly stands decreed in terms of prayer clauses (a) and (b) with the modification that the Plaintiff will be entitled to interest at the 3 rate of 12% p.a. on the principal sum from the date of the suit until payment or realization. There shall be a refund, of Court fee if any, as per the rules. ......