Court awards plaintiff company Rs. 71,79,457.35 in suit for recovery of dues with interest

The court found in favor of the plaintiff company in a suit for recovery of dues with interest against the defendants, who failed to honor bills of exchange. The defendants did not contest the claim, leading to an ex-parte proceeding. The Official Liquidator calculated the outstanding amount to be Rs. 71,79,457.35 with interest. The court examined the evidence and awarded a decree in favor of the plaintiff for the calculated amount with interest, disposing of the suit accordingly.

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Issues: Suit for recovery of dues with interest, Ex-parte proceedings, Calculation of outstanding amount, Decree award

In this case, the plaintiff, a company engaged in manufacturing and selling television sets and audio systems, filed a suit for the recovery of Rs. 20,45,000 with interest against the defendants, who were appointed as stockists by the plaintiff. The defendants failed to honor bills of exchange amounting to Rs. 18,40,886, leading to the total claimed amount. The defendants did not file a written statement and were proceeded ex parte. The Official Liquidator calculated the outstanding amount to be Rs. 71,79,457.35 with interest at 18% per annum. The court examined the evidence, including bills of exchange and letters from the bank, and found in favor of the plaintiff due to the lack of refutation by the defendants. Consequently, a decree was awarded in favor of the plaintiff for the calculated amount with interest, and the suit was disposed of accordingly.

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