{"id":165369,"date":"2010-12-08T00:00:00","date_gmt":"2010-12-07T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/ms-binfo-electronics-p-ltd-vs-s-suresh-so-late-g-r-s-iyengar-on-8-december-2010"},"modified":"2018-01-26T19:09:35","modified_gmt":"2018-01-26T13:39:35","slug":"ms-binfo-electronics-p-ltd-vs-s-suresh-so-late-g-r-s-iyengar-on-8-december-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/ms-binfo-electronics-p-ltd-vs-s-suresh-so-late-g-r-s-iyengar-on-8-december-2010","title":{"rendered":"M\/S Binfo Electronics (P) Ltd vs S Suresh S\/O Late G R S Iyengar on 8 December, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Karnataka High Court<\/div>\n<div class=\"doc_title\">M\/S Binfo Electronics (P) Ltd vs S Suresh S\/O Late G R S Iyengar on 8 December, 2010<\/div>\n<div class=\"doc_author\">Author: Subhash B.Adi<\/div>\n<pre>.w._AN\ufb01:\u00a5A\n\nH\u20acTHEI\ufb02C%iCOURT(M7KARNATAKAJUTBANGAUDRE\n\nDATED THIS THE BTU DAY OF DECEMBER 20\n\nBEFORE\n\nTHEHONBUEMRA\ufb02E\ufb02CESUBH&amp;\u00a7iB@\ufb01\ufb02A'z \n\nREGULAR FIRST APPEAL NO;  1'069\/_ Vv  V'\n\nBETWEEN:\n1. M\/S. BINFO BLBcTB._OjN_1Ac s (53;   _\n2. R. K. MANJUNATH     \u00ab\n\nBOTH PREsB1\u00a7$T1,T'1*.VR\/A,_ No.19  \" \nMARUTHI (;1.ROLI'B, 143.751 MAIN2' A\nHANUNIANTHANAGARA-.'O_A A' \"  \nBAN'OAJD,OB.B;::;T9 -\u00bb \n\nBOTH \"REP. BYTHE PRE)S}:3NT DIRECTOR\nSR1  GURUP_I{'XS.AE)..__  \n\n ' . .  \"  ...APPELLANTS\n(BY SR1 T. B; E_{IRAi\\I KUMAR, ADV.) T\n\n LATE. 1O,j1\"OTI\\II3'EI\\I';:*.L'I--\n\nHEREIN BY ERTITLING HIM TO RECOVER?x~SUM\"'~C)FAl{S:.\"  \n\n1,'7'5.958\/W TOGETHER WITH \nRATE OF 18% RA. ON Rs.I\u00b0;38';958\/J'-EROM \"\nAPPELLANTS HEREIN JOINITIAQARD-I. SiIVER_Ai;LY_,_FROM . *\n\nTHE DATE OE SUIT TILL REALISATION.\n\nTHIS RFA IS COIVi\u00a31\u00a7i=G_C:NE_':Q'ii\"1iEIXRiNG ON IA. THIS\n\nDAY. THE COURT IVIAIDEHTHE EOLjLOwII\\Ir;:g:..'--';~\n\n .iSV  against the judgment\n\nand Vdecree\"~I.i1fI' QIS.N'O.V1*~SV27I\/2001 dated 6\/I\/2005 On\n\nOf. City Civii Judge, Bangalore.\n\n  referred as per their ranking in the\n\ntriai COL: r\u20ac_;}  '\n\nK,\n\nx   Suit; is One for recovery Of Sum of RS.2,OZ,200\/--\n\n  with Costs and interest at the rate of 249\/9 p.a.\n\n%\\..x\u00bb3\n\nM\n\n,,-v..\n\n\n\n'.;J\n\n3. The case of the plaintiff is that. he is the\nproprietor of M \/ s. interface and he is dealing in Telecom\n\n81 Grade Connectors and Sockets. Defendants beixjfgthve\n\ncustomers, for the purpose of their business,\"ipurchased: *\n\ngoods from the plaintiff on .:e1*ed.it  if\n\n28\/4\/1997 to 24\/3\/ 1998 to thelbftulief of \n\nps. Defendant made paymen:tL'''of&gt; '' V\n\n1\/9\/1997' to 24\/4\/1999.  an\"-amfount of\nRs.1,53,158\/-- was due\"  'thiis;:'re\u00a7a:rd.,LVtpiaintiff made a\n\ndemand on  Dei'eridants,fv by letters dt.\n\n4\/10\/rji'\u00a7\u00e99i'ae_d .confirrned the outstanding\n\nbalance' 'a_r{iour1tV_.of:'Rs'\u00a7  58 \/ --. However. defendants\n\nfailed -to setVt1e\"tI'1e arnoiinti. as such, plaintiff issued a\n\n  and  a suit for 'recovery.\n\n  against the claim of the plaintiff, the\n\ndefendva'nt.s on appearance filed written statement\n\"if that they have purchased the goods from the\n\n  piaintiiif. I~Iowever they contended that they have made\n\n%xe1 we\n\n\n\nthe payment. as per the ledger account. m_aintai.ned by\n\nthem and plaintiff had agreed to delay the ]'\u20acC(J?'v't].Vc=l7;\\'%V'Of\n\nbalance of Rs.80,359.37 ps. However, for  .\nbest known to the plaintiff, he ha\u00bbs.._presentedfv 0\"\nClaiming exorbitant amouiitl\"-0 \" \n\nDefendants have made  .pay1nei;ts\"\"._:between * 0\n\n1\/4\/2000 to 31\/8\/2000  'san1e'ha*.ze..ri0t been\naccounted by the plaintiff. vlnot. entitled for\ninterest at  0 is a solvent\ncompany  'Rs.2 Crores. They\n0t'fere&lt;;l H        plaintiff amicably.\nHowevei\ufb01tihe  waiting for the same has\n\nfiled; the A &#039; ~ \n\n  _  basis of these pleadings; the trial Court\n\n.f&#039;1*ar;;1Aedv  fdlvlowing issues:\n &#039;\u00ab;_Wi1et.her plaintiff proves that the defendant\n is due of a sum 0fRs.l,53,158\/-- during the\nperiod from 1 \/9\/ 1997 to 24 \/ 9 \/ 1999&#039;?\n\n\n\n{2} Whether the defendants prove that only a\nsum of Rs.80,359.37 ps. is due to t.he&#039;*,\nplaintiff&#039;?  &#039;~\n\n{3} Whether plaintiff is entitled to recovlerl W&quot; \ninterest. at the rate of 240\/o p.a., on__the&#039;d.ue\namount&#039;?   &#039; &quot;   l\n\n(4) Whether the plaintiff proves that _ it  \nentitled to recovera.4suIn&#039;of&quot;Rs.2,0iZ.,20O\/ &quot;\ntogether with futlure interest at the &quot;of:\n24% per annuni fronistlhe defend&#039;arit.s from\nthe date of suit till ivts---re&quot;a.lis\u00bbation?&#039;  \n\n[5] What order orll&#039;deere\u20ac?%l::&#039;\n\n6.   &amp;tl1_elJxp1ainvtli&#039;lff; \u00bb.piaintiff himself got\nexamined   Exs.P1 to P65. On\nbehalf&#039;._of&#039;--defelndantsll&quot;defendant No. I filed an affidavit\n\nof one of&#039;t\u00abthe.D&#039;1recAtor_loy way of examination in chief.\n\n  pi&#039;odti&#039;eed____Exs.D1 to D9. The trial Court on\n\n &#039; .._of the material on record, held that the\n\n &#039;.h.asi1&#039;vlproved his claim for Rs.1,53,l58\/~ and\n\n furthelr&#039;g_held that the defendants have failed to prove\n\n that. the balance amount was only Rs.80,359.3&#039;7 ps.\n\n  &#039;With regard to the interest, the trial Co&#039;urt held that the\n\n_.\u00a2,;-5. .2,\n\n\n\n w  an_d5i:hEereby  tr__i_a\n\ngt&#039;,-)\\g\nplaintiff is entitled to 18% interest per annum and\naccordingly decreed the suit partly. It is against this\njudgment and decree, defendants have filed this\n7. Learned Counsel appearing for  H\nsubmitted that there is no contract &#039;_  of;\ninterest at the rate of 18%  \npendency of the suit, since   1\npassed by the trial,  an\namount of Rs.1,53, 158\/19}  amount, on\n\n3 1 \/ 7 \/ 2003 and&#039;\u00abT:.VtE1e said   been withdrawn\n\nby  and is deposited in the\nbank. Th\u00a7.3.\u00a2ddlr.as&#039; no&#039;t._be:e&#039;n accounted by the trrglal Court\n\n3.Court has imposed interest on the\n\n &#039;pri&#039;11cjip.;il&#039;~an1:oL1nt. He also submitted that the interest\n\nawarded .or1 the 1&#039;1i.gher side. Since there is no\n\n contract; for payment of interest, a reasonable interest\n\n1&#039; should have been awarded. %&#039;c&#039;\/E&#039;\n\nc&quot;&#039;ur\n\n\n\n8. On the other hand, learned Counsel appearing\nfor the plaintiff submitted that winding up \nwere initiated against the \nexistence of defendant~compan\u00a7r  Ru\nFurther he did not dispute t.he:b&#039;1:?1e}::.&lt;AoVsivt of \n31\/ 7 \/ 2003 and Wit.hd&#039;rav\\rVa1*v:.t:&#039;L:t31&#039;&quot;b   on &quot; it\n21\/3\/2005. He also  i&#039;s&quot;a&#039;~eon\u00a71mereia1\ntransaction and the VA   be at the\ncommercial   Court has\n\nimposed reasoriah1e-- interes&#039;t..on1uy,  V\n\n &#039;tn &quot;submissions made by the\n\nlearned  _fo1-.&#039;_t&#039;h:e&#039;_;;iarties, the point that arise for\n\n Cofmyideration _____ \n\n   the judgment and decree of the\n\n ._   is required to be interf\ufb01ed on the\n\namount of interest awarded in the laint?&quot;\n\n10. it is not in dispute that the plaintiff has made\n\ni  the supply of the goods to the defendants. Defendants\n\n%\u00a3L\n\n-\u00a2-t&#039;\n\n\n\nhave also not disputed the receipt. of goods. &#039;1&#039; he defence\ntaken by the defendant is that, balance amount is___only\n\nRs.80,359.37 ps. To evidence the same, t:her&#039;ei.r:is._:&#039;no\n\nmaterial produced by the defendants,  *\n\nsupply made and the amount due l.byi_:thC_V if\n\ndocuments produced by the plaintii&quot;fi..A_suchll\n\n&amp; delivery notes at Exs.lP&#039;l,&quot;&quot;t.o P41, &#039;ledgef~.;vl&#039;a&quot;c:count &quot;\n\nextract at EXs.P42V rto P\/pL5&#039;;&#039; =fprofit_ &amp; ililoss\/Eaccount\nstatement at Ex.P46, bal.a11ce:fa_t.:l$:\u00a7\u00a7.P47, relevant\n\nentry at   report at Ex.P48.\n\n in  These documents\nnot only prove&#039;  goods, but the amount due\n\nfrom&#039; -the dlefeindantl corresponding ledger entries\n\n also   entries have been made during the\n\ncourse-.V business. To negative the same. no\n\nmaterial&#039;1-sdproduced by the defendants and during the\n\n course*&#039;of evidence, defendants have not disputed the\n\n&quot;.sa&#039;n1&#039;e. As such, the trial Court has rightly come to a\n\ni if &quot;conclusion that: the plaintiff is entitled for recovery of a\n\n\n\n-9- 3&#039;\n\nsum of Rs._1,&quot;\/5,958\/W together with future interest of\n18% pa. on baianoe amount of Rs.1,38.958\/~\u00bb from___the\n\ndefendants.\n\n11. However. the question is  \n\ninterest. The tenor of the vvritten Msltater_nent.\u00ab \n\nthe defendants have not sei9ioti&#039;sl_$\/ \n\ntransaction. They also sought:amieablel_settlefiientand\nit is alleged that before  isllsettled, the\nplaintiff has rushed tov_~AA.\/lfnllthe course of\n\nbusiness,  thlerewill &#039;beT&#039;s.ome.l:delay in payment\n\nor some aeeouritiiage1&#039;f&#039;o19&#039;;&quot;--- T hat should not come in the\n\nWay of btisinlessli*elation_ship between the parties. When\n\n V.  pa]&quot;Cl.\u00a73S: __a&quot;re adin&#039;it.t:.i.1_1_gj\u00bb&#039;the liability and having been found\n\n  is entitled for the amount, I find that\n\nfeasoI1abl.ei&#039;j_if2terest could be awarded instead of 18%.\n\n Aoooiidilngly I pass the following order:\n\nThe appeal is partly allowed. Plaintiff is\n\nE entitled to interest at the rate of 9% p.a. on\n\n\n\n-- !(&#039;}~\n\nRs.1,38,958\/~. The amount deposited by the\n\ndefendants on 31\/7\/2003 and withdrawn \n\nplaintiff on 21\/3\/2005 along with iz1t.eresi,:    i &#039;\n\nadjusted towards decreetal ar\ufb01ount.&quot;_\u00a2  \n\ndeducting the amount depo:\u00a7it_e&quot;d_,fVxiilieiugjmvgi. \n\naccrued interest, the  \namount at the . rgite &#039;\/of afcaicu\ufb01lated.\nAccordingly the  stands\nmodified. A o f  V\n\nIn of of this appeai,\n airnvenvdment of the appeal,\ndoee&#039;  and the same\n\nstands dwismissfedf\n\nsai-5\nEudqe\n\n. \n<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Karnataka High Court M\/S Binfo Electronics (P) Ltd vs S Suresh S\/O Late G R S Iyengar on 8 December, 2010 Author: Subhash B.Adi .w._AN\ufb01:\u00a5A H\u20acTHEI\ufb02C%iCOURT(M7KARNATAKAJUTBANGAUDRE DATED THIS THE BTU DAY OF DECEMBER 20 BEFORE THEHONBUEMRA\ufb02E\ufb02CESUBH&amp;\u00a7iB@\ufb01\ufb02A&#8217;z REGULAR FIRST APPEAL NO; 1&#8217;069\/_ Vv V&#8217; BETWEEN: 1. M\/S. BINFO BLBcTB._OjN_1Ac s (53; _ 2. R. K. MANJUNATH [&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":[8,20],"tags":[],"class_list":["post-165369","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>M\/S Binfo Electronics (P) Ltd vs S Suresh S\/O Late G R S Iyengar on 8 December, 2010 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/ms-binfo-electronics-p-ltd-vs-s-suresh-so-late-g-r-s-iyengar-on-8-december-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M\/S Binfo Electronics (P) Ltd vs S Suresh S\/O Late G R S Iyengar on 8 December, 2010 - Free Judgements of Supreme Court &amp; 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