NEW BANK OF INDIA Vs. T SAROJINI AMMAL

JUDGEMENT

(1.) The plaintiff- New Bank of India ("Bank" for short) has filed this suit against the defendants for the recovery of their outstanding dues in the sum of Rs.6,86,131/- and also claimed future interest thereon from the date of suit till realisation.

(2.) The case of the plaintiff is that plaintiff- Bank had granted two financial facilities, namely, (i) Cash Credit/Pledge of Goods in the sum of Rs.1,50,000/- and (ii) Import Inland L/C on D.P.basis in the sum of Rs.1,50,000/- to one Shri Mohan Kumar, the sole proprietor of M/s.Traders India on 30th September, 1985.

(3.) The said Mohan Kumar expired before filing of the suit. Defendant Nos.1 and 2 are the mother and father of late Mohan Kumar. Hence the suit is filed by the plaintiff against defendant Nos.1 and 2 being parents of the deceased since they inherited the estate of their son late Shri Mohan Kumar.