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2017 (9) TMI 1934 - HC - Indian LawsInter-Corporate Deposit - privity of contract between the plaintiff and Gati or not - HELD THAT:- The confirmation of accounts by the respondent clearly shows that the respondent is indebted to the plaintiff for a sum of ₹ 10,83,55,294/-. The admission of liability is unequivocal. Moreover, there is no privity of contract between the plaintiff and Gati. The present transaction is independent of the contract between the plaintiff and Gati. The respondent has no lien, either statutory or contractual, over the said fund. In view of such unequivocal admission of liability and in absence of any defence to the aforesaid claim, there shall be a decree for a sum of ₹ 10,83,55,294/-. In the event the aforesaid amount is paid by 20 monthly equal instalments commencing from 10th October 2017 and payable by the 10th day of each succeeding month, no interest is awarded on the aforesaid sum - Application disposed off.
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