SUPERIOR CRAFTS Vs. SUDHIR GUPTA

JUDGEMENT

(1.) THE appeal impugns the judgment and decree dated 5 th November, 2004 of the Court of the Addl. District Judge, Delhi (in Suit No.197/00/03 filed by the respondent/plaintiff against the appellants/defendants) of recovery of Rs.17,07,700/ together with interest @ 9% per annum on the principal amount of Rs.10,30,016.97p w.e.f. the date of filing of the suit i.e. 13th March, 2000 till realization.

(2.) THE appeal was admitted for hearing and vide order dated 1 st February, 2005 subject to the appellants/defendants depositing Rs.10 lacs in this Court, the operation of the impugned judgment and decree was stayed. The said amount was deposited and vide subsequent order dated 13 th January, 2006, out of the amount deposited, a sum of Rs.5 lacs was permitted to be withdrawn by the respondent/plaintiff subject to furnishing a Bank Guarantee and the balance of Rs.5 lacs was ordered to be kept in a fixed deposit. The said amount of Rs.5 lacs was withdrawn by the respondent/plaintiff against furnishing a Bank Guarantee and which was renewed from time to time. The appeal was on 15 th April, 2013 dismissed in default and the balance amount of Rs.5 lacs lying deposited in this Court together with interest accrued thereon was ordered to be released to the respondent/plaintiff and the Bank Guarantee was discharged. The appellants/defendants applied for restoration, which was allowed on 21 st May, 2013. The counsel for the respondent/plaintiff on enquiry informs that in accordance with the order dated 15th April, 2013 the balance amount of Rs.5 lacs with interest accrued thereon has been received by the respondent/plaintiff and the Bank Guarantee earlier furnished by the respondent/plaintiff duly discharged has also been returned to the respondent/plaintiff.

(3.) THE respondent/plaintiff had instituted the suit for recovery of a principal amount of Rs.10,30,016.97p jointly and severally from the appellant/defendant no.1, a partnership of the appellants/defendants no.1 to 4, towards balance price of the goods i.e. fabric sold, supplied and delivered by the respondent/plaintiff to the appellants/defendants, together with interest till the date of institution of the suit i.e. for a total sum of Rs.17,07,700/ .