(1.) THE appellant is the original defendant, whereas the respondent is the original plaintiff before the City Civil Court, Ahmedabad, in Civil Suit No. 3213/2004. They are referred to in the same capacity in this judgment also.
(2.) THE plaintiff is a public limited company, whereas the defendant is corporate bank. The plaintiff has preferred the suit for several reliefs, but mainly for declaration regarding set off of certain amounts by the defendant bank between different accounts of the plaintiff with the defendant. The plaintiff has also prayed for declaration that action of the defendant is malafide, fraudulent and illegal in debiting various accounts of the plaintiff, with permanent injunction against the defendant to restrain them from dishonouring the cheques issued by the plaintiff on such account and also for mandatory order to restore the credit in its accounts which were debited by the defendant. So far as set off is concerned, the plaintiff has also contended that it amounts to misappropriation. To consider above reliefs, if we verify the factual details, following facts are relevant to decide present appeal.
(3.) /17] by the City Civil Court, Ahmedabad, to pay such amount, when defendant had not debited the said amount of Rs.7.5 crores, when cheque in question was honoured on 28/5/2003 and when the defendant bank has neither claimed such amount from the plaintiff nor adjusted the amount in credit balance as set off till 23/12/2004, the action of the defendant bank to utilize the credit balance of aggregate amount of approximately Rs.1.12 crores from the plaintiff's different accounts at Navrangpura branch at Ahmedabad and Tulsiani branch at Mumbai, is not only fraudulent and misappropriation of its amount, but it is absolutely illegal, without authority and result of gross negligence on the part of the defendant bank.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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