ANDHRA BANK Vs. PRAKASH ELECTRONICS

JUDGEMENT

(1.) WHEN each of the six defendants brought on record on Monday, January 13, 2003 by the applicant Bank has been found in making constructively an admission of the debt liability towards the said Bank in the clear, unambiguous, unconditional and unequivocal words and when the defendants have been found in making such admission by way of an application made in writing on Monday, September 8, 2003 being subsequent to that this Tribunal has already received the evidence from the applicant Bank against those defendants in connection with the said claim case instituted by the said Bank; and it has received further a number of fourteen documents including the acknowledgement of debt made by those defendants on June 7, 1999 (being the Exhibit No. 12), this Tribunal has been pleased to issue on Wednesday, April 7, 2004 one direction upon the said Bank to file one affidavit before itself wherein shall be succinctly Contained the following material information:

(2.) Here the admission by those six defendants has been understood from the standpoint of a man of ordinary prudence, because a man with ordinary prudence shall be able to infer that those defendants have not been found in traversing and disputing the allegation brought against them in its application by the applicant Bank when the said man shall read the following language expressly used in the said draft proposal received on Monday, September 8, 2003:

(3.) AFTER receiving the above "draft proposal" on the day and date mentioned above, this Tribunal has been specifically of the view that those defendants have been with the intent of avoiding the unnecessary litigation as well as are desirous of settling the current account which has been at one point of time opened by the defendant No. 1 for the purpose of dealing in manufacture of electronic components and appliances under the name and style of "M/s. Prakash Electronics". That is why the words-