GYAN TRADERS LIMITED Vs. MAHENDRA KUMAR AGARWAL

JUDGEMENT

(1.) In terms of Order dtd. 20/6/2024, this Court observes that the suit was transferred to Commercial Division without any Order of the Co-ordinate Bench. The Co-ordinate Bench noted in the Order dtd. 14/3/2024 that the matter was listed in Commercial Division but there was no Order of transfer. As a result, although once transferred to the Commercial Division without any sanctity the suit was re-transferred to the Ordinary Original Civil Jurisdiction. GA-COM/2/2024 is actually pending for transfer of the suit to Commercial Division, fate of which is yet to be decided. In the plaint, it is averred that the plaintiff is a non-banking financial institute and lent a sum of Rs.50,00,000.00 to the defendant for the purpose of business; the loan was advanced in the usual course of business.

(2.) Mr. Dasgupta, learned Advocate for the plaintiff submits that at the time of institution of the suit, the value of which is Rs.51,64,382.00, the suit did not come within jurisdiction of Commercial Division because of specific valuation. At that time, pecuniary jurisdiction was above Rs.1.00crore. Subsequently, the limit of pecuniary jurisdiction was lowered bringing the suit within the ambit of Commercial Division.

(3.) Mr. Banerjee, learned Advocate for the defendant submits that the proper way of transfer is to return the plaint under Order 7 Rule 10 of C.P.C. Mr. Banerjee relies on two decisions of a Co-ordinate Bench. One passed in "RVWO 10 of 2023 in ANE Industries Private Limited versus J.K. Engineering Private Limited" and a previous reported Judgment passed in AIR 2021 Cal 190 "Laxmi Polyfab Private Limited versus Eden Realty Ventures Private Limited". In RVWO 10 of 2023, initially, specified value was not less than Rs.1.00 crore and the suit filed by the plaintiff was more than Rs.1.00 crore. In view of that, it was observed and concluded that the suit could not be transferred to the Commercial Division but the plaint should be returned to the plaintiff for presentation before the proper Court.