LAWS(MPH)-1997-6-23

BANK OF MAHARASHTRA Vs. WESTERN ELECTRICALS

Decided On June 25, 1997
BANK OF MAHARASHTRA Appellant
V/S
Western Electricals Respondents

JUDGEMENT

(1.) Appeal is directed against the judgment and decree dated 7.9.89 of the 2nd Addl. District Judge, Indore passed in Civil Suit No. 28/87 whereby the plaintiff-appellant's suit for recovery of Rs. 1,10,617.75 has been dismissed.

(2.) Undisputed facts of the case are that plaintiff-appellant is a Banking Company, registered under the Banking Companies Act. In the regular course of business it grants loans and the cash credit limit to the customers. The defendant-respondents entered into an agreement and signed documents Ex. P.1, P.2 and P.3.

(3.) Plaintiff's case in brief is that defendants (respondents here) entered into hypothecation agreement and executed document Pronote (Ex. P.1) on 30.3.80 and thereby accepted the receipt of Rs. 1,00,000/-.