SKF INDIA LTD Vs. BANARASI LAL MADAN

JUDGEMENT

(1.) By this Notice of Motion, Plaintiffs have applied for an order of withdrawal of a sum of Rs.48,73,250.55 deposited by the Defendant in this Court together with interest accrued thereon from the date of deposit till payment on such terms and conditions as this Court may deem fit. To appreciate the controversy made in the petition, it would be appropriate to refer some of the facts emerged from the records produced by the parties.

(2.) The Plaintiffs have filed the aforesaid Summary Suit No. 2183 of 2003 for recovery of Rs.1,28,80,060.87 togetherwith interest thereon at the rate of 18% per annum from the date of filing suit till payment/realisation based (i) on diverse invoiced as mentioned in the schedule being Ex."A" to the plaint (ii) on the basis of Defendant's alleged admission of liability in writing dated 5 th September, 2000, (iii) two dishonoured cheques bearing nos. 119847 dated 15 th October, 2000 and No. 120009 dated 30 th November, 2000. The Plaintiffs thereafter took out Summons for judgment No. 382 of 2004 in the said Summary Suit. The said Summons for judgment was replied by the Defendant by filing affidavit in reply dated 22 nd September, 2004. By an Order dated 26 th September, 2005, this Court granted conditional leave to the Defendant to defend the said suit on deposit of Rs. 50 lacs within a period of six weeks making it clear that if the same was not deposited, the Plaintiffs would be entitled to a decree as prayed and further directed that the amount if so deposited, the Prothonotary and Senior Master do deposit the same in a Fixed Deposit with any nationalised bank initially for a period of one year and renew the same from time to time till further orders from this court.

(3.) The Defendant thereafter took out Notice of Motion in the said Summons for Judgment No. 382 of 2004 for seeking extension of time to deposit. By an Order dated 8 th November, 2005, Anoop V. Mohta, J. granted extension of 10 days to the Defendant to deposit the amount directed to be deposited by the Order dated 26 th September, 2005 on the condition that the Defendant shall deposit Rs. 10 lacs within three days from the date of the said Order i.e. 8 th November, 2005 in this Court. Pursuant to the said Order dated 8 th November, 2005 the Defendant deposited a sum of Rs. 10 lacs in this Court within stipulated time as granted by the said Order dated 8 th November, 2005.