Drat Mumbai Court December 1997 Judgments

Bhavani Handloom Industries Vs. State Bank of Bikaner and Jaipur

Court: DRAT Mumbai

1. The short and the only point about acceptance of 40 Hundies and the liability thereunder is involved in this appeal preferred by the original defendants against whom the decree for Rs. 13,85,635.15 with future interest at the rate of 6% per annum is passed on the basis of the said 40 Hundies.M/s. Bhilwara Wooltex who is not the party to the suit had drawn 40 Hundies on different dates for different amounts on the documents during the period from 24.12.1985 to 11.9.1986. The Hundies were in favour of the applicant Bank. The amounts under the Hundies were payable after the particular period. The applicant Bank on the receipt of the Hundies forwarded them through Punjab National Bank for payment.The defendants in whose name the Hundies were drawn dishonoured them.3. It was alleged by the applicant Bank that the Hundies were accepted by the defendants on their premises. In spite of acceptance the defendants have refused to pay Hundies amounts which were calculated at Rs. 11,98,134.20. ...