Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2015 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 1395 - HC - Companies LawValidity of summary suit - deficiencies in supply of material for which the plaintiffs issued credit notes - suppression of any material fact or not - HELD THAT:- The defendants have admitted in their reconciliation statement attached to their email dated 7.11.2012 that a sum of ₹ 9,75,88,621/- is payable to the plaintiffs. In the letter of 1.2.2013 from the defendants' Advocate to the plaintiffs' Advocate, the defendants in any event admit that sum of ₹ 3,83,12,035/is payable. Therefore, the plaintiffs should in any event be entitled to summary decree for ₹ 3,83,12,035/-. As regards the balance amount of ₹ 2,92,76,586/and ₹ 3,00,00,000/, there is no evidence that the goods were substandard or there were even discussion with the plaintiffs. There is also nothing on record to show that the defendants brought to the notice of the plaintiffs goods worth ₹ 3 crore was lying unutilized and the plaintiffs had agreed to take it back. The defendants don't even mention where these goods are and how they valued it out ₹ 3 crores (approximately). In the circumstances, the defence raised by the defendants in my view, are bogus, illusionary and moonshine. Interest - HELD THAT:- The invoices raised does provide interest @ 30% p.a. and therefore, the defendants are also entitled to the contractual rate of interest upto the date of filing of the suit. Application disposed off.
|