STATE BANK OF INDIA Vs. SIDDHARTH HOTEL

JUDGEMENT

(1.) THIS appeal has been preferred by the appellant/plaintiff under Section 96 of Code of Civil Procedure against the judgment and decree dated 4-10-93 and 14-10-93 passed by the Second Additional Judge to the Court of District Judge, gwalior, in Original Civil Suit No. 3-B/87 by which money decree of rs. 72,287. 06 was ordered against the respondents to the plaintiff. It is further directed that the respondents shall also pay interest at the rate of 6% per annum from the date of filing of the suit till realization of the amount.

(2.) THE facts giving rise to this case are that on 22-11-86, the plaintiff-appellant instituted a civil suit against the defendants-respondents for recovery of Rs. 72,287. 06 on account of the loan obtained by it and the interest accrued thereon. The loan received by the defendants-respondents was agreed at the interest of 15% per annum of bank rate and the plaintiff executed documents to that effect with the defendants as well. The agreement executed by the parties is exh. P-2 and in Clause 6 of Exh. P-3, the rate of interest agreed by the parties was 15% per annum.

(3.) IN the Trial Court, the defendants/respondents were not present to contest the claim of the plaintiff and were proceeded ex parte.