Allowed

Axis Bank Limited v. Shreem Corporation Ltd.

Bombay HC2 Dec 2015SS/669/2013

Case brief

AI extract

What is this about?

The High Court of Judicature at Bombay decreed a summary suit filed by the Plaintiff for recovery of security deposit and interest. The court held that the Defendant's failure to deposit the amount as ordered entitled the Plaintiff to a decree under Order 37 Rule 3(6)(b) CPC.

What did the court decide?

Defendant was ordered to pay the Plaintiff a sum of Rs.13,51,959.82 and further interest at 12% from 2nd April 2013 until payment.

Axis Bank Limited Vs Shreem Corporation Ltd. — Contract and Commercial Disputes | Bombay HC (2015)

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3.669.13-ss

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FARAD CONTINUATION SHEET

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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SUMMARY SUIT NO.669/2013

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Office Notes, Office Court’s or Judge’s orders Memoranda of Coram, Appearances, court’s orders or directions and Registrar’s orders

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Mr. Ankit Lohia a/w. Mr. Fraser Alexander i/b. Majmudar & Partners for the Plaintiff

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CORAM : K. K. TATED, J. DATE : DECEMBER 2, 2015

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P.C.:

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Heard. The learned counsel for the Plaintiff submits that they filed the Summary Suit for recovery of security deposit made by them to the Defendant as per the leave and license agreement.

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The learned counsel for the Plaintiff submits that they had preferred Summons for Judgment which was decided by this court (Coram : K. R. Shriram, J.) on 27/07/2015 and granted conditional leave to the Defendant to defend the suit. He submits that the Defendant failed and neglected to deposit the said amount in the Registry. To that effect, they obtained Non Deposit Certificate dated 23/10/2015. Same is taken on record and marked “X” for identification.

Basavraj G Patil

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3.669.13-ss

The learned counsel for the Plaintiff submits that they are claiming interest @ 12% p.a. as per the terms and conditions of the leave and license agreement.

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As the Defendant failed and neglected to deposit the amount as per the order passed by this court in Summons for Judgment, the Plaintiff is entitled to decree as per Order 37 Rule 3(6)(b) of the Code of Civil Procedure, 1908.

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Hence, following order is passed:

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a. Suit is decreed in terms of prayer clause (a)

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which reads thus:

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(a) That the Defendant is ordered and decreed to pay the Plaintiff a sum of Rs.13,51,95,908.82 and further interest at a rate of 12% from 2^nd April 2013 until payment as per the particulars of claim at Exhibit- “O”.

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b. Cost of the suit.

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c. Issuance of certified copy of decree is expedited.

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JUDGE

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Basavraj G Patil

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Axis Bank Limited v. Shreem Corporation Ltd.

Case brief

What is this about?

What did the court decide?

Axis Bank Limited v. Shreem Corporation Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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