STATE BANK OF INDIA Vs. RAJDHANI STEELS

JUDGEMENT

(1.) The plaintiff has filed the present suit for recovery of Rs.1,06,953.44 with costs and interest pendente lite and future at the rate of 17 1/2% per cent per annum against the respondents.

(2.) Plaintiff Bank is a body corporate constituted by the State Bank of India Act, 1955 having its Central Office at Madam Cama Road, Nariman Point, Bombay, and one of its Local Head Office at 11, Parliament Street, New Delhi. It has its branches throughout India and one such branch is situated at Naraina which is under administrative control of Local Head Office at New Delhi.

(3.) Shri D.C. Goyal is the Branch Manager and Principal Officer of the State Bank of India and has been authorised by the concerned officer at the Local Head Office to file and institute the suit and is conversant with the facts of this case. He is competent to sign and verify all types of pleadings, vakalatnamas, affidavits, execution and various other applications and to do all acts necessary for proper conduct of legal proceedings filed on behalf of the plaintiff-Bank in terms of General Regulations, 1955 made by the Reserve Bank of India in exercising of the powers conferred by sub-section (3) of Section 50 of the State Bank of India Act, ,1955 with the previous section of the Central Government read with the notification published in the Gazette of India dated September 26, 1972.