BANK OF BARODA Vs. SCIENTIFIC STEEL

JUDGEMENT

(1.) BY this common reasoned order, Chamber Summons No. 930/94 and Summons for Judgment No. 527/94 are both being disposed off.

(2.) CHAMBER Summons No.930/94 is taken out by the Defendants praying that the plaintiffs be directed and ordered to amend the plaints as per the Schedule annexed to the chamber summons. The Schedule reveals that the Defendants want the plaintiffs to join M/s.Metal Trade Centre, a proprietary firm, having its office at 16, 2nd Carpenter Street, Bombay- 400 002 as Defendant No.2. Consequential amendments after joining above mentioned Defendant No.2 are also included in the Schedule.

(3.) THE Defendants admittedly are the acceptors of three Bills of Exchange dated 09.03.1993, 05.03.1993,and 06.03.1993 for Rs.2,80,370.00, Rs.2,54,207,50, and Rs.1,95,327.50 respectively, totaling to Rs.7,29,905.00. The above referred three Bills of Exchange were drawn by the proprietary firm M/s.Metal Trade Centre. By the above mentioned three Bills of Exchange drawn by the proprietary firm of M/s.Metal Trade Centre, the Defendants were ordered to pay to the plaintiffs' Zaveri Branch, the amount mentioned therein on the respective due dates towards value against the said Bills. The said Bills of Exchange were discounted by the said proprietary firm M/s.Metal Trade Centre with the plaintiffs, for valuable consideration. The plaintiffs, thus, became the payees/holders in due course of the said Bills of Exchange and became entitled to claim and recover the said amount, due under the Bills of Exchange on their due dates.