CANBANK FACTORS LTD Vs. ROHIT DIWAN

JUDGEMENT

(1.) THE plaintiff has filed the present suit for recovery of Rs. 84,17,169.73. Summons in the suit were issued on 20.05.2013. Defendants were served on 30.07.2013. Despite service and time having being granted written statement was not filed by the defendant, consequently right of defendants to file written statement was closed on 28.02.2014. The plaintiff has filed affidavit of Mr. Santosh Kumar (PW1), by way of evidence. The affidavit by way of evidence of PW1 has been exhibited as Ex. PW1/A.

(2.) PW 1 has deposed that he holds general power of attorney from the plaintiff company in his favour to sign and file the present plaint. The power of attorney has been exhibited as EX. PW -1/1.

(3.) IT has further been deposed that defendant no.1 is engaged in the business of wholesale trading of nuts, dry fruits, spices & herbs, etc. under the name and style of his sole proprietorship firm M/s. Madhoram Mohan Lal. The defendant no.1 approached the plaintiff company for factoring facility, against sales bills raised by the defendant no.1, upon his customers for credit sales, by factoring/ discounting the said bills.