{"id":147169,"date":"1996-10-09T00:00:00","date_gmt":"1996-10-08T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/ramesh-kumar-seth-smt-asha-seth-vs-bank-of-india-ors-on-9-october-1996"},"modified":"2018-12-26T23:22:45","modified_gmt":"2018-12-26T17:52:45","slug":"ramesh-kumar-seth-smt-asha-seth-vs-bank-of-india-ors-on-9-october-1996","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/ramesh-kumar-seth-smt-asha-seth-vs-bank-of-india-ors-on-9-october-1996","title":{"rendered":"Ramesh Kumar Seth &amp;Smt. Asha Seth vs Bank Of India &amp; Ors on 9 October, 1996"},"content":{"rendered":"<div class=\"docsource_main\">Supreme Court of India<\/div>\n<div class=\"doc_title\">Ramesh Kumar Seth &amp;Smt. Asha Seth vs Bank Of India &amp; Ors on 9 October, 1996<\/div>\n<div class=\"doc_author\">Author: M S Manohar.<\/div>\n<div class=\"doc_bench\">Bench: K.S. Paripoornan, Sujata V. Manchar<\/div>\n<pre>           PETITIONER:\nRAMESH KUMAR SETH &amp;SMT. ASHA SETH\n\n\tVs.\n\nRESPONDENT:\nBANK OF INDIA &amp; ORS.\n\nDATE OF JUDGMENT:\t09\/10\/1996\n\nBENCH:\nK.S. PARIPOORNAN, SUJATA V. MANCHAR\n\n\n\n\nACT:\n\n\n\nHEADNOTE:\n\n\n\nJUDGMENT:\n<\/pre>\n<p>\t\t      J U D G M E N T<br \/>\n     Mrs. Sujata V. Manohar. J.\n<\/p>\n<p>     The first\trespondent, Bank  of  India,  filed  a\tsuit<br \/>\nagainst Gloria\tChemical Industries  Ltd., the petitioner in<br \/>\nS.L.P. (C)  No. 3277  of 1992  and against Ramesh Kumar Seth<br \/>\nand Asha Seth the petitioners in S.L.P. (C) No. 3276 of 1992<br \/>\nfor a  decree for  Rs.3,62,37,165.10 and  for other reliefs.<br \/>\nThe suit  was filed  against Gloria Chemical Industries Ltd.<br \/>\nas principal  debtor and  Ramesh Kumar Seth and Asha Seth as<br \/>\nguarantors. The\t claim of  the bank was in respect of credit<br \/>\nfacilities given  to Gloria Chemical Industries Ltd. under a<br \/>\nCash Credit  Account, Term  Loan Account  Nos.I, II and III,<br \/>\nTemporary Overdraft  Account and  Guarantee Account.  Ramesh<br \/>\nKumar Seth  and Asha  Seth were\t guarantors  in\t respect  of<br \/>\ntheamounts advanced by the bank to the said company.\n<\/p>\n<p>     On 30.8.1990  the plaintiff-bank  took  out  a  judge&#8217;s<br \/>\nsummonsunder the  provisions of\t Chapter XIII-A of the Rules<br \/>\nof the\tCalcutta High  Court for  final judgment against the<br \/>\ncompany and  the guarantors.  Chapter XIII-A of the Rules of<br \/>\nthe Calcutta  High Court  provides a  summary  procedure  in<br \/>\nsuits to recover debt or a liquidated demand in money or for<br \/>\nimmovable property. Rule 1 of the said Chapter is asfollows:\n<\/p>\n<blockquote><p>     &#8220;1.  Nature   of  cases   in  which<br \/>\n     applicable:-      The provisions of<br \/>\n     this   Chapter    shall   not    be<br \/>\n     applicable\t    save to suits:<br \/>\n     (A) in which the plaintiff seeks to<br \/>\n     recover a debt or liquidated demand<br \/>\n     in money  payable by  the defendant<br \/>\n     with or without interest arising &#8211;\n<\/p><\/blockquote>\n<blockquote><p>     (i)  on   a  contract   express  or<br \/>\n     implied; or\n<\/p><\/blockquote>\n<blockquote><p>     (ii) on  an enactment where the sum<br \/>\n     sought to\tbe recovered  is a fixed<br \/>\n     sum of  money or in the nature of a<br \/>\n     debt other than a penalty; or\n<\/p><\/blockquote>\n<blockquote><p>     (iii)  on\ta  guarantee  where  the<br \/>\n     claim against  the principal  is in<br \/>\n     respect of\t a debt\t or a liquidated<br \/>\n     demand only; or\n<\/p><\/blockquote>\n<blockquote><p>      (iv) on a trust; or<br \/>\n     (B) for  the recovery of immoveable<br \/>\n     property with  or without\ta  claim<br \/>\n     tor rent  or  mesne  profits  by  a<br \/>\n     landlord  against\ta  tenant  whose<br \/>\n     term has  expired or  has been duly<br \/>\n     determined by notice to quit or has<br \/>\n     bas become liable to forfeiture for<br \/>\n     non-payment  of   rent  or\t against<br \/>\n     persons   claiming\t   under    such<br \/>\n     tenant.&#8221;<\/p><\/blockquote>\n<p>     The plaintiff-bank had claimed the following reliefs in<br \/>\nthe suit:\n<\/p>\n<p>(a)  Decree for\t Rs.3,62,37,165.10 against  defendants 1,  2<br \/>\nand 3 jointly and severally;\n<\/p>\n<p>(b)  Interim interest  and interest on judgment as mentioned<br \/>\nin paragraph 18 of the plaint;\n<\/p>\n<p>(c)  Declaration  that\tthe  suit  properties  mentioned  in<br \/>\nparagraph 12  Of the  plaint remain hypothecated and charged<br \/>\nas security for payment of the plaintiff&#8217;s claims herein;\n<\/p>\n<p>(d)  Declaration that the plaintiff stands subrogated to the<br \/>\nOwnership right\t to the\t stock of Hydrogenated Rice Bran Oil<br \/>\nreferred to  in paragraph  17 of  the plaint  and has become<br \/>\nowner thereof;\n<\/p>\n<p>(e)  Declee for\t sale and realisation of the suit properties<br \/>\nmentioned in  paragraph 12  of the  plaint and\tthe Stock of<br \/>\nHydrogenated Rice  Bran Oil  referred to  in Paragraph 17 of<br \/>\nthe plaint  by\tpublic\tauction\t or  private\tcontract  or<br \/>\notherwise with\tliberty to the plaintiff to  appropriate the<br \/>\nnet proceeds  thereof  in  protanto    satisfaction  of\t the<br \/>\nplaintiff&#8217;s claims herein;\n<\/p>\n<blockquote><p>     (f) Receiver;\n<\/p><\/blockquote>\n<blockquote><p>     (g) Injunction;\n<\/p><\/blockquote>\n<blockquote><p>     (h} Attachment;\n<\/p><\/blockquote>\n<blockquote><p>     (i) Costs;\n<\/p><\/blockquote>\n<blockquote><p>     (j) Further and other reliefs.<\/p><\/blockquote>\n<p>     The defendants  who are the petitioners here  contended<br \/>\nthat the  provisions of\t Chapter XIII-A were not  applicable<br \/>\nto the\tsuit in question since the reliefs  claimed included<br \/>\nother claims  which were  not in the  nature of a liquidated<br \/>\ndemand in money payable with or\t without interest. A special<br \/>\nBench of  the Calcutta\tHigh  Court which was constituted to<br \/>\nconsider this  question held  that the\tprovision of Chapter<br \/>\nXIII-A were   attracted\t to this  suit. It Proceeded to hear<br \/>\nthe claim   on\tmerit. The  court examined  the claim of the<br \/>\nplaintiff bank\tagainst the  company (1st  defendant in\t the<br \/>\nsuit)  under  the  said\t accounts  as  also  its  claim\t for<br \/>\ninterests, and\theld that no bona fide dispute was raised by<br \/>\ndefendant No.1\tto the\tsaid claim.  It also  noted that the<br \/>\ninterest was  charged at  a rate  which was agreed to by the<br \/>\nsaid company  which had\t passed\t from  time  to\t time  Board<br \/>\nResolutions accepting  the rate\t of interest.  The  Calcutta<br \/>\nhigh Court  decreed the claim of the plaintiff bank in terms<br \/>\nof prayers (a) and (b) of the Judges&#8217; summons.\n<\/p>\n<p>     In relation  to the claim of the plaintiff-bank against<br \/>\nthe two guarantors the court came to the conclusion that the<br \/>\nguarantees given  by them were in respect of the amounts due<br \/>\nunder the  Cash Credit Account, Term Loan Account No.I, Term<br \/>\nLoan Account No. III and the Guarantee Account with interest<br \/>\nthereon at  the agreed\trates. The  guarantees did not cover<br \/>\nthe claim  of  the  plaintiff-bank  relating  to  Term\tLoan<br \/>\nAccount No.lI  and Temporary Overdraft Account. Accordingly,<br \/>\nit decreed  the claim  of  the\tplaintiff-bank\tagainst\t the<br \/>\nguarantors who were defendants 2 and 3 in the suit for a sum<br \/>\nof Rs.3,46,91,831  and gave  to them  unconditional leave to<br \/>\ndefend the balance of the claim.\n<\/p>\n<p>     The potitioners  before us\t in the\t two  special  leave<br \/>\nPetitions who  are the\toriginal defendants,  have contended<br \/>\nbefore us  that the  provisions of  Chapter  XIII-A  of\t the<br \/>\nCalcutta High  Court, Rules  were  wrongly  applied  to\t the<br \/>\nclaims in  the present\tsuit. After  arguments were advanced<br \/>\nbefore us  at some  length, the\t first respondent  i.e.\t the<br \/>\noriginal plaintiff-bank submitted before us that in fact the<br \/>\nhypothecated goods  and\/or mortgaged  properties had already<br \/>\nbeen sold  by another creditor namely, the west Bengal State<br \/>\nFinancial Corporation  to one  M\/s. Kalyani  Soap Industries<br \/>\nLtd. for  a consideration  of Rs.170  lakhs. Out of the down<br \/>\npayment of  Rs.46 lakhs\t made by  the  said  purchaser,\t the<br \/>\nplaintiff-bank had  received its  pro rata share of Rs.20.19<br \/>\nlakhs. The  plaintiff-bank was\talso entitled  to receive  a<br \/>\nfurther sum  of Rs.34  lakhs from  out of  the balance\tsale<br \/>\nconsideration of Rs.124 lakhs. It further submitted that the<br \/>\nbank had  given credit\tto the\tpetitioners for\t the sum  of<br \/>\nRs.20.19 lakhs\talready received  by it against the claim in<br \/>\nthe present  suit.  According  to  the\tplaintiff-bank\tthis<br \/>\namount has been received by the plaintiff-bank between April<br \/>\n1992 and  May 1995  after the  decree of  the Calcutta\tHigh<br \/>\nCourt. The plaintiff-bank who is the first respondent before<br \/>\nus filed  an application for deletion of prayers (c) (d) (e)\n<\/p>\n<p>(f) (g) and (h) of the plaint they having become infructuous<br \/>\nand unnecessary. This application was granted by us. In view<br \/>\nof this\t amendment to  the plaint the claim of the plaintiff<br \/>\nbank is\t confined only\tto the\tmoney claimed  The  question<br \/>\ntherefore whether  the Provisions  of Chapter  XIII-A of the<br \/>\nRules of  the Calcutta\tHigh  Court  are  attracted  to\t the<br \/>\npresent suit thus becomes academic.\n<\/p>\n<p>     On the  merits of the claim the Calcutta High Court has<br \/>\nexamined the documents the defence of the defendants and has<br \/>\nby a  reasoned order  granted the reliefs set out ealier. We<br \/>\ndo not see any reason to interfere with the same. We make it<br \/>\nhowever clear  that the\t bank, first-respondent herein, will<br \/>\ngive credit  to the petitioners for the amount receivable by<br \/>\nit  as\t its  pro   rata  share\t  on   the   sale   of\t the<br \/>\nmortgagod\/hypothecated properties  from the  date  when\t the<br \/>\nsale took  place. The petitioners will not be liable for any<br \/>\nclaim for  interest on\tthe said amount from the date of the<br \/>\nsale till  the date  Of actual\trealisation of\tthe price so<br \/>\nthat the  petitioners are not charged interest in respect of<br \/>\nthe time  which the bank and other creditors have granted to<br \/>\nthe purchaser for payment of the sale price.\n<\/p>\n<p>     The   special   leave   petitions\t are   disposed\t  of<br \/>\naccordingly. In\t the circumstances there will be no order as<br \/>\nto costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Supreme Court of India Ramesh Kumar Seth &amp;Smt. Asha Seth vs Bank Of India &amp; Ors on 9 October, 1996 Author: M S Manohar. Bench: K.S. Paripoornan, Sujata V. Manchar PETITIONER: RAMESH KUMAR SETH &amp;SMT. ASHA SETH Vs. RESPONDENT: BANK OF INDIA &amp; ORS. DATE OF JUDGMENT: 09\/10\/1996 BENCH: K.S. PARIPOORNAN, SUJATA V. MANCHAR ACT: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[30],"tags":[],"class_list":["post-147169","post","type-post","status-publish","format-standard","hentry","category-supreme-court-of-india"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ramesh Kumar Seth &amp;Smt. 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