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1. Plaintiff has filed this suit for recovery of a sum of Rs.85,25,059/- with interest at 24% p.a. from the date of delivery of goods up to the date of realization of amount from the defendant along with costs.

2. The following are the brief and relevant facts leading to the plaintiff's case:

That the plaintiff is the company incorporated under the Companies Act, 1956 having its registered office mentioned in the cause title of the suit under taking business of importer, manufacturer and stockiest of Ferro Alloys inoculants and carbonizers and are working since several years offering Ferro Alloys like Ferro silicon, Ferro chrome, Ferro manganese, silicon manganese, Silicon magnesium in different size and grades as per the requirements of the customers. Defendants herein is one of the customers of the plaintiff placed purchase orders for the supply of materials as mentioned in plaint para No.4. As per the purchase order of the defendants, the plaintiff company, has supplied the materials as per their required size and grade to the satisfaction of the defendants by issuing excise cum tax invoice. The plaintiff has delivered the above mentioned materials as per the satisfaction of the defendants. Defendants have acknowledged the receipt of the goods to that effect, the plaintiff has produced lorry receipts along with acknowledgement in this case. As per the statement maintained by the plaintiff company, there is an outstanding balance of Rs.85,25,059/- as on 31-3-2012. The defendant has also confirmed the same. But, defendants become irregular inspite of repeated requests and reminders in regularizing their payments and also failed to make payment in time. The plaintiff has requested the defendant several times to make the outstanding dues, but the defendants on one or other pretext avoiding paying the amount. Hence, plaintiff got issued legal notice on 23-2-2012 called upon to pay the amount of Rs.85,25,059/- as per the statement of accounts. It has been submitted by the plaintiff that as per the initial terms and conditions settled with the defendant by the plaintiff, the plaintiff is entitled for interest at 24% p.a. which is prevailing rate in the market, usage on outstanding. Hence, the plaintiff has prayed for recovery of the amount. Plaintiff has also filed private complaint against the defendant u/s.138 of Negotiable Instrument Act which is still pending. Now, the defendants are due Rs.85,25,059/- with interest at the rate of 24% p.a. from the date of delivery of goods up to the date of realization of the said amount.

2. What order or decree?

7. My answers to the above points are as under:

Point No.1 : Partly in the affirmative. Point No.2: As per the final order.
for the following:
REASONS

8. POINT NO.1: It is the case of the plaintiff that it is a company incorporated under the Companies Act, 1956 under taking business of importer, manufacturer and stockiest of Ferro Alloys inoculants and carbonizers and are working since several years offering Ferro Alloys like Ferro silicon, Ferro chrome, Ferro manganese, silicon manganese, Silicon magnesium in different size and grades as per the requirements of the customers. Defendants is its one of the customers placed purchase orders for the supply of materials and as per the purchase orders of the defendants, the plaintiff company has supplied the materials as per their required size and grade to the satisfaction of the defendants by issuing excise cum tax invoices as mentioned in plaint para No.4 and copies of the respective bills furnished. Defendants have acknowledged the receipt of the goods to that effect. As per the statement maintained by the plaintiff company, there is an outstanding balance of Rs.85,25,059/- as on 31-3-2012. The defendant has also confirmed the same. But, defendants become irregular inspite of repeated requests and reminders in regularizing their payments and also failed to make payment in time. The plaintiff has requested the defendant several times to make the outstanding dues, but the defendants on one or other pretext avoiding paying the amount. Hence, plaintiff got issued legal notice on 23-2-2012 calling upon the defendants to pay the amount of Rs.85,25,059/- as per the statement of accounts and the plaintiff is entitled for interest at 24% p.a. which is prevailing rate in the market, usage on outstanding. Hence, the plaintiff has filed this suit to recover Rs.85,25,059/- with interest at the rate of 24% p.a. After institution of the suit, as contemplated under law, suit summons came to be issued to the defendants through hands summons. Service is held sufficient. In spite of it, defendants have not appeared before the Court and hence, placed exparte on 3-12-2015 and case posted for plaintiff's evidence.

9. In support of the plaintiffs' case, the plaintiff being the Director of the company has filed affidavit evidence as per P.W.1 and got marked 20 documents as per Ex.P.1 to P.20. In the affidavit, the plaintiff has reiterated the entire plaint averments. He deposed that the plaintiff is the company incorporated under the Companies Act, 1956 under taking business of importer, manufacturer and stockiest of Ferro Alloys inoculants and carbonizers and are working since several years offering Ferro Alloys like Ferro silicon, Ferro chrome, Ferro manganese, silicon manganese, Silicon magnesium in different size and grades as per the requirements of the customers. Defendants is one of the customers of the plaintiff had placed purchase orders as per Ex.P.6 six in numbers, for the supply of materials and the plaintiff company has supplied the materials by issuing excise cum tax invoice as per Ex.P9 (20 bills). The certified copy of Lorry receipts 20 in numbers are marked at Ex.P.19 through which the goods have been supplied. The plaintiff has produced Ex.P.1 the certified copy of letter of authority, Ex.P.2 & 3 the certified copy of the cheques issued by defendant No.2 and the bank endorsements Ex.P.4 & 5. He further deposed that they have requested the defendant several times to make the outstanding dues, but the defendants on one or other pretext avoiding paying the amount. Thereafter, they issued a legal notice, certified copy of which dtd.22- 3-2012 is marked as per Ex.P.7 and the reply notice dtd.16-7-2012 issued by defendant is marked as per Ex.P.8. P.W.1 has produced Ex.P.10 & 12 statement of accounts pertaining to the defendants, which shows there is an outstanding balance of Rs.82,25,059/- as on 31-3- 2012. Ex.P.11 is the certified copy of evidence of the plaintiff (complainant) deposed in C.C.No.20575/2012, Ex.P.13 is the certified copy of email correspondences, Ex.P.14 is the certified copy of extract of minutes of meeting of the board of the Directors, Ex.P.15 is the list of Directors, Ex.P.16 is the bank statement, Ex.P.17 and 18 are the certified copy of the memo issued by Axis Bank, Ex.P.20 is the judgment in C.C.No.20575/2012. He has deposed that they are entitled for interest at 24% p.a. which is prevailing rate in the market, usage on outstanding dues. Hence, the plaintiff has prayed for recovery of the amount of Rs.85,25,059/- with interest at the rate of 24% p.a. from the date of delivery of goods up to the date of realization of the said amount.