1. M/s. M.R. Panels, Through its Partners 2. Shri Vikas Goyal, Partner of M/s. M.R. Panels 3.Smt. Rajkumari Goyal, Partner of M/s. M.R. Panels All at: F412, Industrial Area, Chopanki, District Bhiwadi, Alwar, Rajasthan301019. ....Defendants Date of institution : 10.08.2018 Date of arguments : 09.01.2024 Date of judgment : 10.01.2024 CS (Comm.) No. 536/2021 1 SUIT FOR RECOVERY OF Rs. 34,13,237/ ALONGWITH FUTURE AND PENDENTELITE INTEREST. JUDGMENT: 1. Vide this judgment, I am deciding the suit for recovery of Rs. 34,13,237/ alongwith pendentelite and future interest @ 18% per annum filed by the plaintiff against the defendants. 2. The essential facts for disposal of present suit as per plaint are as that the plaintiff is a company and engaged in the business of trading, manufacturing, import, export of woods & timber in India and abroad and other allied and ancillary activities associated with the industry. Sh. Girish Aggarwal is authorized representative of the plaintiff company, who is authorized to institute the present suit against the defendants vide a Board Resolution dated 01.07.2018. The defendant no. 1 is a partnership concern and defendants no. 2 to 4 are its partners. It is mentioned that since the year, 2014 the plaintiff and defendant regularly transacted business with other other and had several business transactions and the plaintiff had sold and often purchased material from the defendant as per their respective requirements and specifications. The plaintiff has been maintaining a mutual open and running ledger account of the defendant in its books for recording the above business transactions. During the financial year 20162017 the plaintiff and defendant entered into an oral accord whereby plaintiff was required to furnish certain advance amount to the defendant to enable the defendant to manufacture material/ goods extensively for the plaintiff and finally supplied /delivered materials to the CS (Comm.) No. 536/2021 2 plaintiff at Godown No. 5, Bharat Singh Farm House, Near Pradhan Market, Nilothi Village, West, Delhi110041. In pursuance to the oral accord, the plaintiff advanced huge sums to the defendant through RTGS and NEFT in defendant's bank account and as on date as per the books of accounts/ledger statement maintained by the plaintiff in usual course of business operations an amount of Rs. 34,13,237/ has already been advanced by the plaintiff to the defendant and defendant never supplied any materials for the above mentioned amount. It is also mentioned that in the email dated 28.07.2017 the defendant has admitted that the aforesaid amount is outstanding in their books of account. In this email defendant has admitted that the account statement sent by the plaintiff tallied with their books of account and confirmed the same and also sent the ledger statement of the plaintiff as it stood in the defendant's books of accounts. The plaintiff on numerous occasions requested the defendant to either supply the material for the advance amount or in the alternative refund the advance amount received by the defendant. But, despite repeated requests and reminders, the defendant did not supply any material to the plaintiff and kept on delaying the supply of material to the plaintiff. The plaintiff has sent legal notice dated 13.02.2018 through its counsel, calling upon the defendant to repay the amount of Rs. 34,13,237/ with interest @ 18% per annum. The legal notice was duly served and defendant sent reply dated 26.03.2018. As per the plaintiff, defendant is liable to pay a sum of Rs. 34,13,237/ to the plaintiff. The plaintiff has also claimed pendentelite and future interest @ 18% per annum. CS (Comm.) No. 536/2021 3 3. The defendant has filed written statement taking preliminary objections that the present suit has not been instituted validly. It is mentioned that plaintiff has not approached Delhi Legal Service Authority for PreInstitution Mediation and Settlement. This court has no territorial jurisdiction to entertain and adjudicate the present suit. The plaintiff has not a