Final Order 16

Order Details: COPY OF JUDGMENT
Pdf Text: IN THE COURT OF AMIT KUMAR : DISTRICT JUDGE
(COMMERCIAL)-08
TIS HAZARI COURTS, CENTRAL: DELHI
(Commercial Case CS (Comm) No. 1061/23)
CNR No. DLCT01-009618-2023
INDIAN BANK
HAVING ITS HEAD OFFICE AT
254-260, AVVAI SHANMUGHAM SALAI,
ROYAPETTAH, CHENNAI-600014
AND HAVING BRANCHES
AMONGST OTHER AT
ROSHNARA ROAD,
DELHI-110007
…..PLAINTIFF
VS
VIKAS SINGH RAJPUT
S/O SH. RAM PRASAD
PROP. OF M/S. KADAM
R/O 3954, GALI THANEWALI,
ROSHNARA ROAD, DELHI-110007
….DEFENDANT
Date of institution of case : 18.07.2023
Date of arguments : 03.09.2024
Date of pronouncement of judgment : 30.09.2024
J U D G M E N T :
Present is a suit seeking recovery of Rs. 11,37,471/-
alongwith interest @ 13.60% plus 2% penal charges. The brief
facts necessary for the disposal of the suit are that the plaintiff
bank granted a OCC hypothecation limit to the tune of Rs.
6,00,000/- under PMMY scheme vide sanctioned letter
27.02.2017 and the interest on the PMMY loan amount was
payable on demand as per the sanctioned terms and conditions.
The account of the defendant became irregular and overdue and
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the defendant on 17.03.2018 written a letter requesting to renew
the facility and also signed a DP note of Rs. 6,00,000/- admitting
his liability towards the bank. On 11.02.2019 and 24.03.2020, the
defendant also executed and signed the acknowledgment of debts
receipts admitting liability towards the bank. The defendant
failed to adhere to the terms and conditions of the sanction and
the plaintiff issued a legal notice dated 06.03.2023. The
defendant despite notice failed to repay the said loan amount. As
on the date of the suit, the defendant was liable to pay Rs.
11,37,471/-.
Summons of the suit was served on the defendant by way
of publication in the newspaper Statesman dated 14.12.2023 yet
he did not appear and was proceeded ex-parte vide order dated
25.01.2024. Plaintiff to prove its case examined its AR as the sole
witness. He proved on record the following documents:
1) Attested Copy of Authority letter in his favour as Ex.
PW1/1.
2) Sanction letter as Ex. PW1/2.
3) Letter of acknowledgment of sanctioned letter as Ex.
PW1/3.
4) Demand promissory note dated 27.02.2017 for Rs.
4,05,000/- as Ex. PW1/4.
5) Letter of margin as Ex. PW1/5.
6) Letter of hypothecation as Ex. PW1/6.
7) DP note and letter dated 17.03.2018 as Ex. PW1/7 and
PW1/8 respectively.
8) Original letter of acknowledgment dated 11.02.2019 and
24.03.2020 are Ex. PW1/9 and PW1/10.
9) Copy of legal notice dated 06.03.2023 as Ex. PW1/11.
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10) Non starter report as Ex. PW1/12.
11) Statement of account filed by the plaintiff as Ex. PW1/13
and closure balance as Ex. PW1/14.
12) Day to day interest statement as Ex. PW1/15.
13) Certificate U/s 2A as Ex. PW1/16.
The testimony of PW1 goes unrebutted. I have heard the
submissions. The suit is within limitation in view of the
judgement of Hon’ble Supreme Court given in
Suo Moto Writ
Petition No. 03/2020 and plaintiff has proved that plaintiff is
entitled to recovery of the suit amount. In facts, the suit is
decreed with cost and interest. A decree for a sum of Rs.
11,37,471/- alongwith cost and pendente lite interest @ 9% per
annum is passed in favour of the plaintiff and against the
defendant. The plaintiff shall also be entitled to future interest @
9% per annum from the date of decree till realization.
Copy of the judgment be sent to both the parties by
electronic mode, if available or otherwise.
Decree sheet be prepared.
File be consigned to Record Room.
(AMIT KUMAR)
District Judge, Comm. Court-08
Central, Tis Hazari Courts
Extension Block, Delhi/30.09.2024
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