Final Order 1

Order Details: Copy of Judgment
Pdf Text: : 1 : Suit No.623 of 2018
CNR No. MHCC010009412018
Lodged on : 17.01.2018
Registered on : 01.03.2018
Decided on : 03.01.2019
Duration : 00 Y 11 M 18 D
Exhibit –19
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
S.C. SUIT NO. 623 OF 2018
Bank of India,
a Body Corporate Constituted
under the Banking Companies
(Acquisition and Transfer of Undertakings)
Act V of 1970, having their Head Office at
Star House, Plot No. C5, “G”Block,
Bandra Kurla Complex, Bandra (East),
Mumbai 400051, and having its one of the
Branches amongst others places at
Indraprastha CHSL, Opposite Jaihind Cinema,
Dr. Ambedkar Road, Lalbaug (East),
Mumbai – 400 012 through Constituted
Attorney Shri Harikumar S., Senior Manager
Zonal Office, Mumbai Age 43 Years. .. Plaintiff
Versus
M/s. Mann Tours & Travels
Proprietor Mrs. Manjeet Kaur Khandpur
Building No. 20, Room No. 960,
3rd Floor, GTB Nagar, Sion Koliwada,
Near Hari Mandir, Mumbai 400037. .. Defendant
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Appearance :
Ld. Advocate Kamble for plaintiff.
None for defendant.
CORAM : HIS HONOUR JUDGE
SHRI ANAND L. YAWALKAR
(COURT ROOM NO. 31)
DATED : 03.01.2019
Claim : Suit for recovery
: JUDGMENT :
1. Plaintiff filed the suit for recovery of Rs.6,01,012/ with
interest @ 13.05% p.a. alongwith penal interest.
2. Case of plaintiff in brief :
Plaintiff is a body corporate Constituted under the Banking
Companies (Acquisition and Transfer of Undertakings) Act V of 1970.
Defendant is a propriety firm of Mrs. Manjeet Kaur Khandpur, is a
borrower. Defendant applied to the plaintiff bank for term loan of Rs.
6,15,000/ for purchasing a Maruti vehicle for commercial use on hire
basis. On request of the defendant, plaintiff granted loan vide sanction
letter dated 25.07.2015. The defendant executed all the necessary
documents in favour of plaintiff. Defendant failed and neglected to
repay the loan amount. As per the contention of the plaintiff bank
suit is within limitation. Hence, plaintiff filed suit for recovery of
amount.
3. Inspite of summons, defendant failed to appear. Suit
proceeded exparte against defendant.
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4. On aforesaid facts and circumstances, following points arise
for my determination. I have recorded my findings to them together
with reasons as under.
POINTS FOR DETERMINATION FINDINGS
1. Whether plaintiff bank proves that
an amount of Rs. 6,01,012/ is due
and payable by defendant? In the affirmative
2. Whether plaintiff bank is entitled
for recovery of Rs. 6,01,012/ with
interest @ 13.05% p.a. along with
penal interest as prayed ?
In the affirmative
3. What order and decree ? Suit is decreed as per final
order
: REASONS :
As to Point Nos.1 to 3 :
5. In support of its contention, plaintiff bank filed an affidavit of
Sheetal Ghag as PW 1 below Exh. 6. Plaintiff bank relied Exh. 8
Original Loan application, Exh. 9 Original Sanction letter dated
25.07.2015, Exh. 10 Original Demand Promissory Note dated
26.08.2015, Exh. 11 Original defendant's Letter dated 26.08.2015,
Exh. 12 Original Hypothecation agreement dated 26.08.2015, Exh. 13
Copy of certificate of Registration issued by the Regional Transport
office for defendant's Vehicle no. MH01BT7456, Exh. 14 Copy of the
legal notice dated 16.09.2017, Exh. 15 Original India Post Tracking
Report with Receipt/AD, Exh. 16 AD Card original, Exh 17 colly
Statement of Account vehicle loan of the defendant with 65B certificate
of I.E. Act and Exh. 18 Particulars of claim.
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6. Plaintiff bank filed on record sanction letter at Exh. 9.
According to it defendant applied for loan of Rs. 6,15,000/ and
loan was sanctioned for the same amount with interest. The loan
amount was to be repaid in 60 EMI of Rs. 13,590/. Demand
promissory, defendant's letter, Hypothecation agreement, copy of the
certificate of registration, copy of legal notice and statement of accounts
are also on record. According to documents defendant failed to repay
the loan amount. Defendant did not reply to the legal notice and also
failed to pay the amount.
7. Plaintiff bank had all the documents executed in their favour.
It is nationalized bank. There cannot be any doubt about the claim of
plaintiff bank considering the oral and documentary evidence. Due to
the absence of the defendant the pleadings and evidence filed on record
by plaintiff goes unchallenged. Further, the loan was sanctioned on
25.07.2015. Legal notice was sent to defendant on 16.09.2017. The suit
is filed on 17.01.2018. Thus, the suit is within limitation. Hence,
considering this plaintiff bank is entitled to recover the loan amount.
Plaintiff had claimed the rate of interest at @ 13.05% p.a. along with
penal interest. The interest prayed is accordingly granted. Hence,
considering this I answer point no. 1 and 2 in the affirmative and
accordingly, pass the following order.
: ORDER :
1. Suit is decreed.
2. Defendant shall pay Rs. 6,01,012/ to plaintiff within 3
months from the date of suit with interest @ 13.05% p.a.
on principal amount till its actual realization.
3. In the given circumstances, defendant to pay the cost to
plaintiff.
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4. Defendant or any person claiming through him are
restrained by an order of injunction from alienating or
creating third party interest in the Hypothecated Maruti
D'zire, Registration No. MH01BT7456 till the recovery
of entire decreetal amount.
5. Plaintiff bank is entitled to take physical possession of
Hypothecated Maruti D'zire, Registration No. MH01BT
7456 and to sale the said vehicle for realization of the
loan amount.
6. Decree be drawn up accordingly.
Anand.L.Yawalkar
Judge,
City Civil & Sessions Court,
Date: 03.01.2019 Gr. Mumbai
Dictated on : 03.01.2019
Transcribed on : 03.01.2019
Signed on : 03.01.2019
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER.”
On 04.01.2019 at 1.34 p.m.
UPLOAD DATE AND TIME Mrs. P.R.Vengurlekar
NAME OF STENOGRAPHER
Name of the Judge
(With Court Room No.)
H.H.J. Anand.L.Yawalkar
C.R.No.31
Date of Pronouncement of
JUDGMENT/ORDER
03.01.2019
JUDGMENT/ORDER signed by P.O. on 03.01.2019
JUDGMENT/ORDER uploaded on 04.01.2019
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER.”
On 30.01.2019 at 11.15 a.m.
REUPLOAD DATE AND TIME Mrs. P.R.Vengurlekar
NAME OF STENOGRAPHER
Name of the Judge
(With Court Room No.)
H.H.J. Anand.L.Yawalkar
C.R.No.31
Date of Pronouncement of
JUDGMENT/ORDER
03.01.2019
JUDGMENT/ORDER signed by P.O. on 03.01.2019
JUDGMENT/ORDER reuploaded on 30.01.2019
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