BANK OF INDIA Vs. RADHAKRISHNAN IYER

JUDGEMENT

(1.) THE matter was heard yesterday and was adjourned today at the request of the Counsel for the plaintiffs. None present when the matter is called out.

(2.) THE plaintiffs have filed the suit for recovery of the amounts from the defendant pursuant to the user of a Credit Card issued by the plaintiffs. There was no amount advanced in terms of any agreement nor is the suit for any liquidated amount. On the Summons for Judgment being taken out the defendant has filed an affidavit in reply and contested that the amount as set out is due and payable. The defendant has set out that only there were purchases amounting to Rs. 80, 680. 30 ps. and not the amount as claimed by the plaintiffs. Interest is also denied on use of the card.

(3.) IT is also contended that the lending rate of interest is contrary to the notification issued by the Reserve Bank of India under the provisions of the Banking Regulation Act regulating interest of Nationalised Banks.