R SURESHCHANDRA AND CO Vs. VADNERE CHEMICAL WORKS

JUDGEMENT

(1.) THIS is a suit for recovery of money representing sum allegedly due on the foot of an account together with interest thereon.

(2.) PLAINTIFF, a firm registered under the Partnership Act, claims that it started dealing with defendants in 1966. Defendants 2 and 3 are partners doing business in the name and style of defendant 1. Plaintiff was supplying chemicals and advancing money to defendant 1. Defendant 1 supplied manufactured goods. An account of the transanctions was maintained and this showed a debit of Rs. 6,20,623. 40 ps. Defendant 1 had supplied goods worth Rs. 2,79,965. 14 ps. leaving outstanding a balance of Rs. 3,40,658. 26 ps. The accounts were gone into and defendants had admitted the above position. In their balance sheet issued on 13-11-1974, defendants had acknowledged the above liability. Despite demand the dues plus interest @ 21% per annum, the acknowledgement brought the suit within limitation.

(3.) DEFENDANTS denied the averments summarised above. Defendant 1 had once purchased goods worth Rs. 14,620. 60 ps. and the price had been paid in full. There was no accounting or settlement of accounts. Plaintiffs accounts were not regularly maintained nor reliable. Plaintiffs suit deserved to be dismissed with costs.