Out of the down payment of Rs.46 lakhs made by the said purchaser, the plaintiff bank had received its pro rata share of Rs.20.19 lakhs.
A special Bench of the Calcutta High Court which was companystituted to companysider this question held that the provision of Chapter XIII A were attracted to this suit.
This application was granted by us.
III and the Guarantee Account with interest thereon at the agreed rates.
The plaintiff bank was also entitled to receive a further sum of Rs.34 lakhs from out of the balance sale companysideration of Rs.124 lakhs.
It further submitted that the bank had given credit to the petitioners for the sum of Rs.20.19 lakhs already received by it against the claim in the present suit.
It also numbered that the interest was charged at a rate which was agreed to by the said companypany which had passed from time to time Board Resolutions accepting the rate of interest.
The plaintiff bank had claimed the following reliefs in the suit Decree for Rs.3,62,37,165.10 against defendants 1, 2 and 3 jointly and severally Interim interest and interest on judgment as mentioned in paragraph 18 of the plaint Declaration that the suit properties mentioned in paragraph 12 Of the plaint remain hypothecated and charged as security for payment of the plaintiffs claims herein Declaration that the plaintiff stands subrogated to the Ownership right to the stock of Hydrogenated Rice Bran Oil referred to in paragraph 17 of the plaint and has become owner thereof Declee for sale and realisation of the suit properties mentioned in paragraph 12 of the plaint and the Stock of Hydrogenated Rice Bran Oil referred to in Paragraph 17 of the plaint by public auction or private companytract or otherwise with liberty to the plaintiff to appropriate the net proceeds thereof in protanto satisfaction of the plaintiffs claims herein Receiver Injunction h Attachment Costs Further and other reliefs.
The defendants who are the petitioners here companytended that the provisions of Chapter XIII A were number applicable to the suit in question since the reliefs claimed included other claims which were number in the nature of a liquidated demand in money payable with or without interest.
The companyrt examined the claim of the plaintiff bank against the companypany 1st defendant in the suit under the said accounts as also its claim for interests, and held that numberbona fide dispute was raised by defendant No.1 to the said claim.
According to the plaintiff bank this amount has been received by the plaintiff bank between April 1992 and May 1995 after the decree of the Calcutta High Court.
The suit was filed against Gloria Chemical Industries Ltd. as principal debtor and Ramesh Kumar Seth and Asha Seth as guarantors.
I, II and III, Temporary Overdraft Account and Guarantee Account.
On 30.8.1990 the plaintiff bank took out a judges summonsunder the provisions of Chapter XIII A of the Rules of the Calcutta High Court for final judgment against the companypany and the guarantors.
Ramesh Kumar Seth and Asha Seth were guarantors in respect of theamounts advanced by the bank to the said companypany.
Mrs. Sujata V. Manohar.
J. The first respondent, Bank of India, filed a suit against Gloria Chemical Industries Ltd., the petitioner in L.P. C No.
It Proceeded to hear the claim on merit.
3276 of 1992 for a decree for Rs.3,62,37,165.10 and for other reliefs.
3277 of 1992 and against Ramesh Kumar Seth and Asha Seth the petitioners in S.L.P. C No.
The claim of the bank was in respect of credit facilities given to Gloria Chemical Industries Ltd. under a Cash Credit Account, Term Loan Account Nos.
