TMI Blog2017 (9) TMI 1934X X X X Extracts X X X X X X X X Extracts X X X X ..... ility 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spute that after the expiry period, the entire amount together with interest has not been repaid to the plaintiff. The inter corporate deposit together with interest as on 1st April 2016 comes to ₹ 10,83,55,294/-. The respondent has also issued Tax Deduction at Source Certificate from time to time acknowledging its liability to pay the aforesaid sum. In view of failure on the part of the res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the said fund should be utilised for the hydroelectric project by Gati and after settlement of accounts, if any amount is found due and payable to the plaintiff, the same shall be refunded. This explanation is very difficult to accept at this stage. Even if it is assumed that there was such an understanding, then there would have been some reflection in some document about such understandin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esaid sum. However, in default in making payment of the first instalment or any subsequent instalment, the plaintiff shall be entitled to interest @ 12% per annum on the balance amount till realisation and the entire amount shall be payable immediately. Since this order virtually disposes of the suit, CS No. 10 of 2017 is treated on the day's list and is decreed of on the aforesaid terms. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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