UNIQUE INTERNATIONAL PVT LIMITED Vs. DINESH KUMAR SINGHANIA

JUDGEMENT

(1.) THE plaintiff seeks judgment on admission on a document that the defendant questions, but the plaintiff relies on the affidavit filed by the defendant to suggest that admission of the plaintiff's claim is writ large in such affidavit and the matters recorded in the questioned document have been corroborated by the defendant.

(2.) THE plaintiff claims that in March, 2000 the defendant sought a short-term temporary accommodation loan of Rs. 2 crore and offered to pay interest at 15% per annum thereon. The plaintiff agreed to provide the loan and between July 20, 2000 and February 23, 2001 made over four cheques of Rs. 50 lakh each which the defendant encashed. According to the plaintiff, the defendant agreed to secure the loan by transfer of shares in dematerialized form in the plaintiff's account, but ultimately failed to furnish the security. The plaintiff claims that it demanded repayment on January 5, 2005 of the sum of Rs. 3,11,00,000/- as at december 31, 2004 which the defendant failed to pay.

(3.) THE plaintiff has given the defendant credit for a sum of Rs. 14,88,869. 20/ which the plaintiff claims the defendant paid by cheques. The plaintiff says that the last four payments were by cheques of Rs. 1 lakh each, the first two bearing the date July 4, 2002, the third of December 27, 2002 and the last of December 30, 2004. The suit was instituted on March 21, 2005.