MOUSHUMI BHATTACHARYA,J. - (1.) The plaintiff has filed the suit against the defendant for money lent and advanced by way of a short term inter-corporate loan to the defendant for a sum of Rs.1 crore for a period of 182 days, namely, 21st October, 2013 to 20th April, 2014, at the rate 15 per cent per annum. The defendant acknowledged the receipt of the said sum and agreed and accepted the terms of repayment.
(2.) It appears from the orders passed in these proceedings that the defendant has not been represented from at least June, 2017. Despite an order dated 13th June, 2017 for direction of affidavits, no affidavit-in- opposition has been filed in the matter. This fact has been recorded by an order dated 21st November 2017 and a decree was passed by Hon'ble Justice Soumen Sen in a Chapter XIIIA proceedings for a sum of Rs.14,17,808/- together with interest at the rate of 10% per annum on the said sum from April 2015 until realisation; and a decree for a sum of Rs.65,753/- being the balance interest amount. A cheque had been issued on 21st April 2015 by the defendant which was dishonoured on presentation. The latter decretal amount was directed to carry interest at the rate of 10% per annum from April 2015 until realisation. The balance claim was relegated to the suit. An order dated 6th February 2018 passed by Hon'nle Justice Sahidullah Munshi refers to a report dated 23rd August 2015 of the Deputy Sheriff that although one Sanket Sarawgi, entered appearance on 25th April 2017, no written statement was filed in the matter. The suit was therefore fixed for hearing as an undefended suit under commercial division.
(3.) The case made out in the plaint is this; the plaintiff is a company engaged in the business of real estate and construction. The defendant is a public limited company also engaged in the business of construction. By an oral request made by the defendant in October 2013, the plaintiff granted an unsecured short term inter-corporate loan to the defendant for Rs.1 crore at the rate of 15% per annum and for the period of 21st October 2013 to 20th April 2014. By a letter dated 21st April 2014, the defendant requested the plaintiff to renew the short term loan for a further period of 182 days, namely, on and from 21st April 2014 to 19th October 2014 at the rate of 15% per annum. The letter also stated that the defendant had issued two post dated cheques in favour of the plaintiff both dated 20th October 2014 drawn up Deutsche Bank, Shakespeare Sarani for principle sum of Rs.1 crore and a sum of Rs.6,73,151/- towards interest on the principle sum.;