- (1.) The Court : This is an application made by the defendant No. 2 in the suit for recalling and setting aside a decree passed on 15th May, 2000, passed by this Court. Since the application was made little out of time, the petitioner explained the delay by filing supplementary affidavit.
(2.) The application was taken out with a supporting affidavit dated 19th June 2000 by the pen of one Sri Sanjoy Sharma claimed to be the constituted Attorney of the petitioner and presented before this Court on 21st June, 2000.
(3.) The plaintiff instituted the suit as against the defendant No. 1 by making him a principal debtor for a sum of Rs. 2,50,00,000/- (Rupees two crore fifty lacs only) and against the defendant Nos. 2 and 3 as the guarantors. The reason behind the same is that the defendant No. 2 being a businessman controls defendant No. 3 company associated with management and control of one bank being Bank of Rajasthan Limited. Certain shares in the bank held by the defendant No. 3 which were shown additional security. The claim is arising out of money lent and advance which is allegedly for a period of about one year. If repaid after one year from the respective dates of advance then the interest will be 2 per cent over and above prevailing bank rate being 20.5 percent per annum as was prevailing at the point of time due to non-payment of loan within the prescribed period a sum of Rs. 3,06,83,567/- (Rupees Three crore six lacs eighty three thousand five hundred and sixty seven only) become due and payable by the defendant No. 1 to the plaintiff by adding interest. However, ultimate claim was made in the suit for a sum of Rs. 4,17,48,629/- (Rupees four crore seventy lacs forty eight thousand six hundred and twenty nine only) against the defendant No. 1 as principal debtor and defendant No. 2 as guarantor.;