The above was opined by the Calcutta High Court in the case of Anchor Investments Pvt. Ltd. v. TCI Finance Ltd IA No: GA/2/2019 in CS/133/2019 that was presided over by the Honourable Justice Krishna Rao on 8th December 2022.
FACTS OF THE CASE
The instant application for a final judgement was submitted by the plaintiff, a decree against the defendant for Rs. 83,46,507/- according to the provisions of this Court’s Original Side Rules, Chapter XIIIA. Prior to the Ordinary, the plaintiff had initially brought the current lawsuit. After bringing the lawsuit, the plaintiff filed a GA 5 of 2021 application, requesting the transfer of the immediate suit in addition to the ongoing requests before this Court (Commercial Division) in an order dated July 19, 2022, this Court has granted the request (a) to (c) of the call of the Master.
Additionally, the plaintiff had submitted a GA 2198 of 2019 application, but the aforementioned application was withdrawn by order dated November 26, 2019. watch order dt. 18.08.2020, the day the Ordinary Original of the action was filed with regard to the Civil Jurisdiction, the Court issued a temporary order defendant to provide security to the plaintiff in the amount of Rs. 83,46,507 satisfaction of the High Court’s Registrar within two weeks of the day the order was passed.
JUDGEMENT OF COURT
By admitting that the defendant had acknowledged an amount of Rs. 1 crore with the promise to return it with interest at a rate of 17% per annum and by a number of documents, the defendant had admitted that he would return the said amount, but the defendant had returned only an amount of Rs. 25,00,000 and had paid interest only twice; no additional interest has been paid. This Court had taken these documents into consideration in favour of the plaintiff. There is no proof that the defendant has paid the sum plus interest or that it is not owed to the plaintiff in any document.
Nothing that the defendant has been able to provide suggests that there is a credible defence to the plaintiff’s claim. The defendant is ordered by the court to pay the plaintiff Rs. 83,46,507 once admission is made.
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JUDGEMENT REVIEWED BY SAYANTANI RAKSHIT