UNITED BANK OF INDIA CALCUTTA Vs. ABHIJIT TEA CO PRIVATE LIMITED

JUDGEMENT

(1.) Leave granted.

(2.) The appellant bank is the plaintiff in Suit No. 410/85 which is pending on the file of the Calcutta High Court. The respondent-debtor is yet to file its written statement. By 31-12-98, an amount of Rs. 31.12 crores is said to be due to the Bank. Initially, in the above suit, a compromise decree was passed by Ajit Kumar Sen Gupta, J. on 29-3-94. It was contended by the Bank that the compromise was based upon a non-existent agreement. On appeal, the said judgment was set aside by a Division Bench of the High Court on 11-8-98 consisting of Ajoy Nath Ray and Dipak Prakas Kundu, JJ. describing the said judgment as "shocking". The bench also observed:

(3.) The Bench allowed appeal, awarding costs in a sum of Rs. 75,000/-.