STATE BANK OF INDIA Vs. MAHINDRA ENTERPRISES

JUDGEMENT

(1.) This is a suit for recovery of Rs. 1,82,936.12 filed by the plaintiff bank in respect of the credit facilities given by the plaintiff bank to the defendants.

(2.) During the course of the trial, Sh. Mahinder Singh Batra, defendant No. 2 who is the sole proprietor of defendant No. 1 appeared in person and stated that defendants 1 and 2 admit the claim of the plaintiff bank. Defendant No. 2 stated that he is willing to make he payment as claimed by the plaintiff but he be given reduction in the pendente lite interest. It was submitted that he was a victim of the riots that took place immediately after he assassination of Smt. Indira Gandhi in 1984 and thus suffered huge losses. He prayed hat consideration be shown for his hardship and he be given reduction in the pendente lite interest. Defendant No. 3 is the guarantor. Defendant No. 3 cannot have any objection if defendants 1 and 2 make the payment.

(3.) In these circumstances, the suit is decreed in favour of the plaintiff and against the defendants for a sum of Rs. 1,82, 963.12. In view of the hardship expressed by defendant No. 2 and in view of the fact that defendant No. 2 is prepared to make the payment of decretal mount immediately, as a special case the defendants are granted reduction in pendente lite interest. The plaintiff will be entitled to simple interest @ 9% per annum from the date of he filing of the suit till realisation. The plaintiff is also entitled to costs.