Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1 Comm. Suit No.20/2020
MHCC010006662020 Presented on : 24/6/2019
Registered on : 16/01/2020
Decided on : 13/09/2022
Duration : 02Y/07M/28D
IN THE CITY CIVIL COURT AT MUMBAI.
COMMERCIAL SUIT No.20 of 2020
Canara Bank, a body corporate, constituted
under the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970,
having its Head Office at 112, J. C. Road,
Bangalore560 002, and one of its Branch
Office amongst others known as Naigaum
Dadar Branch having address at Gr. Floor,
Dr. D. B. Kulkarni Vidyalay, Lok Seva
Sangh, Mahatma Jyotiba Phule Road,
Naigaum, Dadar (East), Mumbai400 014,
in the State of Maharashtra represented by
Mr. Manish Kumar, Age:29 years, Manager.
...PLAINTIFF
VERSUS
Sabira Ibrahim Shaikh
Age : Not known, R/o. Shop No15, F N H
A 981, S M Road, Antop Hill, Mumbai 400
037
...DEFENDANT
Shri Arafat Shaikh h/f Rajkumar Shukla, learned Advocates for
plaintiff.
Defendant exparte.
CORAM : HIS HONOUR JUDGE SHRI. N.P. TRIBHUWAN
(C.R.NO.32)
E XP A R T E J U D G M E N T
(Delivered on 13/09/2022)
This is a suit for recovery of sum of Rs.4,61,114/ with
further interest @ 10.15% p.a. with monthly rests plus 2% penal
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2 Comm. Suit No.20/2020
interest from the date of suit till realization of amount.
2. It is case of plaintiff that it is a body corporate constituted
under the Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1970. On 21/9/2015 on request of defendant the
plaintiff has sanctioned him term loan of Rs.4,15,000/ with interest
0.55% above the ongoing PLR of with a minimum of 10.15% p.a. and
noncompliance of sanction terms will attract penal interest @ 2% p.a.;
for purchasing Taxi. The loan was repayable in 60 equal months
installments of Rs.9,002/ each. At the time of sanctioning loan
defendant has executed several documents in favour of plaintiff.
Defendant has paid installments upto 14/11/2017 but thereafter he
failed to repay loan installments. Hence, plaintiff has issued demand
notice to defendant on 16/7/2018 and thereafter, on 26/2/2019 it has
initiated preinstitution mediation proceeding before District Legal
Services Authority, City Civil Court, Mumbai. The said authority has
issued nonstarter report on 30/4/2019.
3. Defendant failed and neglected to pay the outstanding
amount. As on 21/5/2019 defendant is in outstanding sum of
Rs.4,61,113/ with further interest @ 10.15% p.a. and noncompliance
of sanction terms penal interest @ 2% p.a. Therefore, plaintiff has filed
this suit for recovery of the said amount alongwith interest.
4. Defendant served with suit summons but did not appear.
Hence, suit proceeded exparte against it as per order dtd.6/8/2022.
5. On above facts following points arise for determination and
this court and recorded findings thereon for the reasons stated as under.
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3 Comm. Suit No.20/2020
POINTS FINDINGS
1. Whether the plaintiff proved that it has
advanced term loan of Rs.4,15,000/ to
plaintiff ?
…Yes
2. Whether the plaintiff proved that it is
entitled for recovery of amount of Rs.
4,61,114/ and interest @ 10.15% p.a. +
penal interest @ 2% p.a. on principal
sum ?
…Yes
3. What order and decree? ...As per final
order.
REASONS
AS TO POINT Nos.1 AND 2:
6. Heard learned counsel of Plaintiff. Plaintiff has examined
its Sr. Manager (PW1 Ashok Kumar Vishwanath Sharma) to prove its
case. He reproduced all content of plaint in his chiefexamination. His
evidence is supported by documentary evidence : Loan application
dtd.21/9/2015, Sanction letter dtd.21/9/2015, Certificate of loan
papers, Letter evidencing execution of documents, Letter of
undertaking, Particulars of vehicle, Deed of hypothecation,
Acknowledgment of debt & security, legal notice dt.16/7/2018,
Statement of Account (Exh.11 to 20 respectively).
7. In view of evidence of PW1 Sr. Manager of plaintiffBank
and documentary evidence, it becomes clear that on the request of
defendant on 21/9/2015 plaintiff has sanctioned him term loan of
Rs.4,15,000/ for purchasing vehicle for commercial purpose. At the
time of sanctioning the said loan defendant has executed Hypothecation
agreement and above documents in favour of plaintiff. Defendant
agreed to repay loan in 60 equal monthly installments with interest.
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4 Comm. Suit No.20/2020
Statement of account shows that amount of Rs.3,25,694/ + interest of
Rs.1,35,420/ = Total Rs.4,61,114/ is outstanding in loan account of
defendant on 21/5/2019.
8. Evidence of PW1 remained unchallenged. His evidence is
supported by documentary evidence mentioned in para supra. There is
no reason to disbelieve his testimony. Hence, plaintiff succeed to prove
that it has advanced abovementioned term loan to defendant with
conditions. The amount of Rs.4,61,114/ is due and payable by
defendant to plaintiff with interest @ 10.15% p.a. + penal interest @
2% p.a. Therefore, plaintiff is entitled for the recovery of the same.
Hence, I answered point Nos.1 and 2 as above. Hence, I pass the
following order.
ORDER
1. Suit is decreed with costs.
2. The defendant is directed to pay to plaintiff the amount
of Rs.4,61,114/ and interest @ 10.15% p.a. + penal
interest @ 2% p.a. on principal sum of Rs.3,25,694/
from the date of suit till realization of the said amount.
3. Decree be drawn up accordingly.
Date : 13/09/2022.
(N.P. Tribhuwan)
Judge, City Civil Court,
Mumbai. C.R.No.32
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5 Comm. Suit No.20/2020
Dictated on : 13/09/2022.
Checked on : 13/09/2022.
Signed on : 13/09/2022.
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
13/09/2022. Mrs.Rupali S. Bhor
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge(with CR
No.)
HHJ SHRI. N. P. TRIBHUVAN
(C.R.No.32)
Date of pronouncement of Order 13/09/2022.
Order signed by P.O. on 13/09/2022.
Order uploaded on 13/09/2022.
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