ARVIND STEEL COMPANY Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) THESE two appeals can be conveniently disposed of by this common Judgment and Order because though the bills and amount of recovery in these appeals are different, the respondent Bank is the same and pleadings and findings in both the matters arc also identical except the amounts and dates of Hundis. The learned Presiding Officer disposed of both the applications namely O.A. No. 3056/2000 (High Court Summary Suit No. 3324/1993) and O.A. No. 3057/2000 (High Court Summary Suit No. 3326/1993) by his common Judgment and Order dated 26.3.2002, which is impugned in these appeals. The appeal No. 17/2002 is arising out pf O.A. No. 3056/2000 and appeal No. 18/02 is arising out of O.A. No. 3057/2000.

(2.) Case of the applicant Bank i.e. Union Bank of India in both the original applications? is that one M/s. Basant Alloy Steel Ltd. was its constituents. It has drawn certain bills of; exchange (Hundis) on the defendants for valuable consideration. The Hundis' were payable. after specified period. They were accepted by the defendants whereupon the applicant Bank discounted the Hundis ;and made payments thereof to the drawer. The details of the Hundis in both the matters were given in part No. 4 of the impugned Judgment and Order.