O.A. No. 1799 of 2000. Case: Union Bank of India Vs Chemie Tend. Mumbai Debt Recovery Tribunals
| Case Number | O.A. No. 1799 of 2000 |
| Counsel | For Appellant: Leon Samuel, Adv., i/b., Advani and Co. and For Respondents: Pankaj Vijayan, Adv., i/b., Ramadasan K.V., Adv. |
| Judges | K.J. Paratwar, Presiding Officer |
| Issue | Banking Law |
| Citation | IV (2005) BC 148 |
| Judgement Date | Friday May 27, 2005 |
| Court | Mumbai Debt Recovery Tribunals |
Judgment:
K.J. Paratwar, Presiding Officer
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The acceptor of four Bills of Exchange has been sued in this Original Application [O.A] for recovery of Rs. 16,27,043.52 with interest @ 17.09% p.a. from the date of filing the original application till full realisation.
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The short case of the applicant is that since 1982, M/s. H.N. Dye Chem Industries (P) Ltd. enjoyed certain Credit Facilities including Usance Bills Discounting (UBD) facility from the applicant. The defendants accepted four bills drawn by the applicant's above named constituent. On the due dates, however, it did not make payment even after the Notary had called upon to do so. Therefore, this original application.
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By written statement (Exh. 6), the defendant resisted the O.A. by stoutly denying to have signed and accepted the Bills of Exchange/Hundies. The jurisdiction of this Tribunal is challenged without specifying whether the challenge is to territorial or subjectwise jurisdiction. The defendant has contended that photocopy of its letter head has been prepared and misused. The signatures are said to be forged. The Hundies are said to be without consideration since the defendant did not receive any benefit. The defendant has contended that it does not deal with Q-Acid which is shown in the invoice (accompanying the Bills of Exchange) to have been sold. The defendant however has admitted that it had dealings with H.N. Dye Chem (P) Ltd. It is said in that connection that the defendant's representative used to take rubber stamp to the office of H.N. Dye Chem for preparation of documents in respect of product purchased by it from H.N. Chem (P) Ltd. The contention is that H.N. Dye Chem (P) Ltd. has prepared false...
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