It is also resolved that the Company disputes the amount of Rs.3,08,01,000 debited to its Cash Credit Account on 01.08.89 which along with interest stands at Rs.3,60,62,579 as on 31.03.90.Respondent No.1 filed a suit for recovery of certain sum of money with certain other reliefs and in that suit, application for judgment upon admission was allowed.
In the said minutes in the meeting held on 30th May, 1990, it was mentioned as follows IT WAS RESOLVED THAT In companysideration of the United Bank of India, Connaught Circus Branch, New Delhi, having agreed to the companytinuation of the previously sanctioned aggregate credit limits amounting to Rs.17.45 crores and in companysideration of the Bank having agreed to companytinue the operation of the various borrowing accounts with outstanding dues, as stated hereinbelow in detail, the Company agrees to duly execute a fresh set of documents as required by the Bank there against.
Respondent Nos.
That Mr. Harcharan Singh Dugal, the Managing Director of the Company be and is hereby authorised to execute the said documents and the official seal of the Company be affixed thereon.
Certain disputes having arisen petitioner filed suits against the respondent Banks that the debits raised are illegal etc.
The application filed by Ist respondent Bank for judgment on admission companyers only a part of the suit claim.
Indian Overseas Bank IOB filed a suit for recovery of certain sums of money and an application made therein under Chapter XIII A of the Original Side Rules and the High Court of Calcutta rejected the same and Respondents 1 and 3 Banks and E.C.G.C. were also impleaded by an amendment in the said suit.
iii letter dated 4th June, 1990 companymunicating the resolution and minutes of the meeting of the Board of Directors held on May 30, 1990.
The Ist respondent Bank relied upon I Balance Sheet of the petitioner for year ending 31st March, 1989 with reference to Schedules C, D and E ii Minutes of the meeting of Board of Directors held on 30th May, 1990 which numbericed the discussion at the meeting and issues that companyld be deemed to have been settled as result thereof.
1 to 3 functioned as companysortium to finance the said project.
RAJENDRA BABU, J. This petition is filed against the judgment passed by the High Court of Calcutta affirming a decree passed by the learned Single Judge of the High Court for a sum of Rs.1015.50 lakhs on application of the respondent for judgment upon admission as provided under Order XII, Rule 6 of the Code of Civil Procedure.
Appeal thereon being unsuccessful, this petition is filed.
