BANQUE INDOZNEZ Vs. PAWAN AND CO

JUDGEMENT

(1.) THE plaintiffs have filed this suit to recover a sum of Rs. 83,575. 59 p. together with interest at the rate of 18 per cent per annum from the date of the bill of exchange, namely, 30/09/1989.

(2.) THE plaintiffs' case is that the defendants are the acceptors of a hundi dated 12/03/1987 payable within 90 days from the date of acceptance of the said hundi. There is also a notice dated 11/09/1989 addressed to the defendants calling upon them to pay the amount. The defendants have not replied to the said notice. Hence the present suit.

(3.) THE defendants have filed their affidavit-in-reply to the Summons for judgment. There are number of contentions. Firstly, they contend that the plaintiffs cannot claim interest at the rate of 18 per cent per annum and their contention is that under the law, the plaintiffs could have claimed interest only at the rate of 6 per cent per annum as the bill of exchange does not specify any rate of interest. The second contention is that the bill of exchange is not duly stamped. The third contention is that the plaintiffs have already filed another suit against the drawers of the said bill of exchange and the said suit includes the present claim under the bill. Their further contention is that the said bill of exchange was drawn at New Delhi and that the defendants' Proprietor affixed his signature on the said bill in New Delhi. The said bill of exchange was not payable at Bombay nor was it discounted at Bombay and, therefore, no part of the cause of action has arisen in Bombay. The defendants, therefore, submit that this Court has no jurisdiction to entertain and try the, suit.