Saleh Hyderabad on S.A.

Summary

This two-page English legal statement, dated 26 November 1964, concerns Suit No. 71 of 1964, brought by The Central Bank of India Ltd. against Kanakhaya Naradinsingh Raja Bahadur of Ramgarh and another. The unnamed bank officer, from the overdraft department in Bombay, describes an overdraft facility of up to Rs. 4 lakhs arranged in August 1961 for the purchase of 33 jeeps. The facility was secured by a demand promissory note, letters concerning repayment and ownership, and a hypothecation of the defendant’s tangible and movable property, including the jeeps.

Key points

• The statement records the bank’s case in Suit No. 71 of 1964.
• The defendant received cash-credit and overdraft facilities up to Rs. 4 lakhs in August 1961.
• The borrowing was intended to finance the purchase of 33 jeeps from Mahindra and Mahindra Ltd.
• Security documents included a demand promissory note, repayment letter, hypothecation letter, and undertaking concerning the jeeps.
• The defendant deposited Rs. 1 lakh and instructed the bank to pay Rs. 4,99,997 to the supplier.
• The defendant subsequently paid Rs. 2,80,000 in fourteen monthly instalments through October 1962.
• The statement claims a remaining balance of Rs. 1,57,000.55, with interest and costs, and records the decree sought or passed in favour of the plaintiff.