JUDGMENT
S. Mukherjee, J.
1. This is a summary suit under Order xxxvII Code of Civil Procedure filed by the plaintiff who is engage din the business of import and trading of plastic raw material, and in the manufacturing of various plastic products, having its manufacturing unit and godown at A-106, Wazirpur Industrial Area, Delhi. Defendant is a company, which is engaged in the business of manufacturing of various plastic products.
2. The case set up by the plaintiff is that on 2.5.1998, a meeting was held between the parties wherein certain terms and conditions of the business were settled and which were reduced into writing on 2.5.1998 itself. As per he said terms and conditions, the plaintiff company agreed to provide to the defendant 15 to 30 days credit at the time of sale of plastic raw material by the plaintiff to the defendant. In case of default in payment, the defendant agreed to pay interest @24% per annum to the plaintiff, on the outstanding dues.
3. The plaintiff further contends that the defendant company purchased from the plaintiff, on different dates, plastic raw materials and the plaintiff has sold to the defendant the said plastic raw material on the said dates, in accordance with the orders placed by the defendant with the plaintiff from time to time.
4. According to the plaintiff it has been maintaining a running account in respect of the transactions with the defendant, where the amount becoming due to the plaintiff were all being duly debited, and likewise the amount received by the plaintiff from the defendant from time to time were being duly credited in their account.
5. The plaintiff relief upon the entries in their books of account, regularly kept in the course of its business in this regard.
6. It is the case of the plaintiff that the defendant used to make the payments through cheques only without intimating the bill number against which the payment is to be appropriated. The defendant company issued to the plaintiff various cheques towards part payment of the goods purchased by the defendant from the plaintiff from time to time. Some of these cheques were honoured by the bankers of the defendant, while some others were returned unpaid.
7. After adjusting the payments received by the plaintiff from the defendant, a sum of Rs. 20,75,927.50/- became due and payable by the defendant to the plaintiff, as on 1.10.1999, towards the purchase of the goods by the defendants from the plaintiff.
8. It is also the case of the plaintiff that as per the terms of sale as agreed between the plaintiff and the defendant, the defendant has agreed to pay interest @24% per annum in case of default of payment.
9. In relation to the dishonoured cheques, since the defendant, despite receipt of said notices of demand, failed to make the payment, as such the plaintiff also filed cases under Section 138 of negotiable Instruments Act. All these cases are pending in the court of Sh. D.K. Sharma, Metropolitan Magistrate, New Delhi.
10. Further averment of the plaintiff is that in the aforesaid criminal cases, the counsel for the defendant on 23.4.2001 made a statement in the trial court, that they are willing and ready to pay the amount in Installments. However till date, the defendant has not paid anything to the plaintiff.
11. When the defendant failed to pay to the plaintiff the aforesaid outstanding amount of Rs. 20,75,927.50/-, the plaintiff on 7.3.2000 sent to the defendant, a notice of demand dated 6.3.2000 by registered A.D. post calling upon the defendant to pay a sum of Rs. 20,75,927.50/- towards principal amount due and further sum of Rs. 5,75,210/- towards interest @24% per annum uptil 28.2.2000.
12. Since the defendant has not paid the outstanding amount Along with interest, the present suit has been filed.
13. Although the defendant was duly served with the summons in the prescribed form at two separate addresses, on 21.4.2000 and 26.2.2002, yet no appearance has been filed by the defendant and as such, the consequences as envisaged by Order xxxvII (2)(3) of the Code of Civil Procedure have to follow, and on the unrebutted averments of the plaintiff, which are duly supported and verified, and after going through the documents and details furnished by plaintiff, including the statement of accounts, I am satisfied that the entire amount, as claimed, is to be decreed in favor of the plaintiff with pendente lite and future interest at the same rate as was agreed viz. at 24% p.a..
14. Suit is accordingly decreed with pendente lite and future interest @ 24% p.a. with costs.