Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: SUMMARY SUIT NO. 904/2018 1
Received on : 04-01-2018
Registered on : 01-09-2018
Decided on : 15-02-2020
Duration : 02Y 01M 13D
IN THE CITY CIVIL COURT AT MUMBAI
SUMMARY SUIT NO. 904 of 2018
(UNDER ORDER XXXVII THE CODE OF CIVIL PROCEDURE 1908)
( CNR NO.:MHCC01-000129-2018 )
Union Bank of India, a body corporate
a banking company incorporated under
Banking Companies (Acquisition & Transfer
of Undertakings) Act, 1970 and having its
registered office at Union Bank Bhavan,
239, Vidhan Bhavan Marg, Nariman Point,
Mumbai-400 021 and having one of its
branch office at Hind Jyoti Building,
Gunjal Mansion, Barister Nath Pai Marg,
Cotton Green, Mumbai-400 033 through
its Authorised representative
Mr.Dilip Raj Satpathy. ...Plaintiff
Versus
1. M/s.Prashant Travels
Room No.135, Magre Chawl,
Bhim Nagar, Near building
No.58, Vartak Nagar,
Thane(W), Maharashtra 400 606.
2. Mr. Prashant Arjun Vishwasrao
Age: 29years,
Residing at Sai Sadan, SS-3,
R.No.777,Sector No.4,
Behind Tilan College,
Koparkhairne, Navi Mumbai. ….Defendants
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SUMMARY SUIT NO. 904/2018 2
Appearances:-
Advocate M/s. S.Ashwinikumar & Co.for the Plaintiff.
Defendants Ex-parte.
CORAM : HIS HONOUR JUDGE
DEEPAK L. BHAGWAT
(C.R.NO.28)
DATE : 15TH FEBRUARY 2020
J U D G M E N T
1. This is Summary Suit for recovery of Rs.5,30,846/-(Rupees Five
Lakhs Thirty Thousand Eight Hundred and Forty Six Only) with simple
interest @ Rs.11.65% p.a. from the date of the suit till realization of
amount.
2. According to the plaintiff, it is a Banking Company. Defendant
No.2 is the proprietor of defendant No.1. On the request of defendant
No.1 the plaintiff sanctioned loan of Rs.6,27,000/- in March 2016. The
plaintiff disbursed the loan amount of Rs.6,27,000/- in favour of
defendant No.1. Defendant No.1 through defendant No.2 executed
relevant documents as general term loan agreement, Hypothecation
agreement, demand promissory note, letter of continuity, agreement on
rate of interest, dtd.13/04/2016. The defendants had agreed to repay
the loan amount in equated monthly installments with interest @
11.65% p.a. In case of failure to repay the amount, the defendants also
agreed to pay the penal interest of 2% p.a. over and above the normal
rate of interest. According to the plaintiff, the defendants failed and
neglected to pay the monthly installments regularly. Vide legal notice
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SUMMARY SUIT NO. 904/2018 3
dated 02/08/2017, the plaintiff called upon the defendants to pay then
due amount. At the institution of the suit, the defendants were liable to
pay Rs.5,30,846/-. Therefore, the plaintiff claimed decree for recovery
of said amount with interest.
3. Despite service of summons, the defendants failed to appear.
Therefore, the suit proceeded ex-parte against the defendants.
4. Considering the material on record and submissions made on
behalf of the plaintiff points arise for determination along with my
findings thereon for the reasons recorded are as under:-
POINTS FINDINGS
1. Whether the plaintiff is entitled
to recovery of amount as prayed?
Yes
2. At what Pendente Lite and
future interest?
10% per annum
3. What order and decree? As per final order
REASONS
AS TO POINTS NO.1 to 3
5. The plaintiff examined its authorized representative P.W.1 Dilip at
Exh.6. His testimony speaks that on the request of defendants loan of
Rs.6,27,000/- was disbursed in favour of defendant No.1 by the
plaintiff. However, the defendants failed to repay the loan amount by
regular monthly installments. According to him, amount of
Rs.5,30,846/- was due and payable by the defendants.
6. His testimony is corroborated by the documents on record as the
loan application, dated 16/03/2016 which reveals that defendant No.1
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SUMMARY SUIT NO. 904/2018 4
through defendant No.2 had applied for loan on 16/03/2016. Sanction
letter dtd.28/03/2016, general term loan agreement, Hypothecation
agreement, demand promissory note, letter of continuity, agreement on
rate of interest, dtd.13/04/2016, reveal that the defendants agreed to
repay the loan of Rs.6,27,000/- in equated monthly installments with
interest @11.65% p.a.. The statement of account reveals that the loan
was disbursed by the plaintiff to the account of defendant No.1. Thus, it
is clear that the plaintiff had paid loan amount of Rs.6,27,000/- to
defendant No.1 with interest @ 11.65% p.a., but the defendants failed
to repay the loan. The statement of account shows that, on the date of
filing of the suit, the amount outstanding, due and payable by the
defendants was Rs.5,30,846/-. In these circumstances, the plaintiff is
entitled to recover the amount of Rs.5,30,846/-. So far as the pendente
lite interest and future interest is concerned, it may be noted that the
loan granted to defendant No.1 was from 'Pradhanmantri Mudra Yojna'.
It appears that it was granted to the defendant No.1 for his business.
Considering these circumstances, it is just and proper to grant the
interest at simple rate of 10% p.a. from the date of suit till realization of
amount. Hence, point No.1 is answered in the affirmative and point
No.2 is answered as that the plaintiff is entitled to the interest @ 10%
p.a. from the date of suit till realization of the amount. In view of Para-
499 of Civil Manual court fees has to be refunded to the plaintiff, this
being summary suit where the defendant did not appear. In answer to
point No.3 order as follows is passed.
ORDER
1. The suit is ex-parte decreed with costs as under:-
2. Defendants No.1 & 2 shall jointly and severally pay to the plaintiff
amount of Rs.5,30,846/-(Rupees Five Lakhs Thirty Thousand Eight
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SUMMARY SUIT NO. 904/2018 5
Hundred and Forty Six Only) with simple interest @ 10% p.a. from the
date of suit till realization of the amount.
3. Court fees be refunded to the plaintiff as per rules.
4. Decree be drawn up accordingly.
(Deepak L. Bhagwat)
Ad-Hoc Judge,
Date: 15/02/2020 City Civil Court,Gr. Mumbai
Dictated on : 15/02/2020
Signed on : 17/02/2020
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT/ORDER.”
20/02/2020 at 1130a.m. Mrs.J.V.Pawar
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (With Court Room No.) HHJ Shri.D.L.Bhagwat
(C.R.NO.28)
Date of pronouncement of Judgment/Order 15/02/2020
Judgment/Order signed by P.O. on 17/02/2020
Judgment/Order uploaded on 20/02/2020
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