NEW BANK OF INDIA Vs. BHUPINDER SINGH BRAR

JUDGEMENT

(1.) The Plaintiff Bank has filed the suit for the recovery of Rs. 2,62,277.00 with costs and interest against the defendants. The case of the Plaintiff Bank, in brief, is that the Plaintiff Bank is a body corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1980, Carrying of the business of banking, having its Head Office at 1, Tolstoy Marg, New Delhi and amongst others a Branch Office also at 1, Tolstoy Marg, New Delhi. Sh. A.K.Garyali, Manager of the Plaintiff Bank is duly authorised to sign and verify the plaint and to institute the suit on behalf of the plaintiff Bank.

(2.) On 8th March, 1994 an application (IA 2770/94) was, filed under Order 22 Rule 10 read with Section 151 Civil Procedure Code by the plaintiff bank seeking leave to continue the suit by the Punjab National Bank in place of the plaintiff bank. It has been stated in the above said application that during the pendency of the suit the plaintiff bank was transferred to and vested in Punjab National Bank Vide Notification No. 50662 (E) dated the 4th September, 1993, issued by the Government of India, Ministry of Finance (Department of Economic Affairs) (Banking Division). It has been prayed in the above said application that Punjab National Bank, having its head office A-7, Bhikajikama Place, New Delhi and a Branch Office at 1, Tolstoy Marg, be permitted to continue the present suit in place of New Bank of India against the defendants. The above mentioned application was allowed by the learned predecessor of this Court vide order dated 13th February, 1995 as a result of which Punjab National Bank has been permitted to continue the present suit in place of New Bank of India against the defendants.

(3.) As the defendants absented themselves despite service, they were proceeded ex parte in the present proceedings vide order dated 23rd July, 1992.