VIJAYA BANK Vs. AUDIO VIDEO ELECTRONICS

JUDGEMENT

(1.) After hearing the learned counsel for the parties and perusing the record, I am of the view that on peculiar facts and circumstances of the case, the interests of both the sides can be safe-guarded by directing the defendants (respondents herein) to furnish a bank guarantee to the tune of Rs. 81,541.40 ps., which amount according to the petitioner-pliantiff, is acknowledged by the defendants, but is disputed by the defendants. The Bank Guarantee would be that in case the suit of the plaintiff is decreed to the aforesaid extent or over and above that amount, the Bank guarantees the payment to the extent of the aforesaid amount to the plaintiff. In other words, if the suit of the plaintiff is decreed to the extent of Rs. 81,541.40 ps. or above, the plaintiff will be entitled to encash the bank guarantee. Let this Bank Guarantee be furnished within one month from today and on furnishing such bank guarantee, before the trial Court, the respondent-defendants would have the leave to defend the suit itself. The trial Court would expedite the disposal of the suit as per the schedule hereinafter.

(2.) I am told that the suit is at the stage of framing of the issues. After the furnishing of the bank guarantee, as aforesaid by the defendants-respondents, the trial Court shall proceed to frame the issues. The plaintiff will be given two months time from the first date that is fixed for evidence to lead its entire evidence at its own responsibility. It may take assistance of the Court by taking dasti summons for summoning the witnesses, but if the witnesses are not served, it will be no ground to extend the period beyond two months. However, if the witnesses are served but they do not come present the Court will ensure their presence in accordance with law by taking necessary steps. Alter the closure of the plaintiffs evidence, the defendants (respondents herein) would be given three months time to produce their entire evidence at their own responsibility in the same manner as indicated aforesaid in the case of the plaintiff. After the closure of the defendants evidence, the petitioner may produce its evidence, if any, in rebuttal within one month in the same manner, as aforesaid. After the closure of its evidence, the suit would be decided by the trial Court in accordance with law. Needless to mention, if the Bank guarantee, as aforesaid, is not given, the defendants shall forfeit their right to defend the suit. Civil Revision stands disposed of in the above terms. Disposed of.