Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 412/2020. 1 Ex-parte Judgment (Exh.17).
MHCC010012152020
Presented on : 20-01-2020
Registered on : 27-02-2020
Decided on : 29-03-2022
Duration : 2 years, 2 months, 9 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 412 OF 2020
Exh.17.
(Syndicate) Canara Bank, a body corporate )
Constituted and functioning under the )
Banking Companies (Acquisition and )
Transfer of Undertakings) Act, 1970, )
having its Head office at (Manipal), )
112, J.C.Road, Bangalore, Karnataka State )
and having one of their Branch office at )
167, Navyug Niwas, Opp. Minerva Cinema, )
Lamington Road, Mumbai – 400 007 )...Plaintiffs
Versus
M/s. Gangeshwar Tours and Travels )
A Proprietary Concern, through its )
Proprietor Mr. Prakash Shantaram Gundaye )
At A – 301, Sai Suraj CHSL, Oswal Nagri )
Nallasopara (E), Palghar – 401209 )...Defendant
SUIT FOR RECOVERY OF MONEY
CORAM : HIS HONOUR JUDGE SHRI R.R.BHAGWAT.
(COURT ROOM NO.31).
DATE : 29th MARCH, 2022.
Ms. Sujata Dahigaonkar, Advocate for the plaintiffs.
Defendant – (Exparte).
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Comm.Suit No. 412/2020. 2 Ex-parte Judgment (Exh.17).
JUDGMENT (EXPARTE)
1. This is suit for recovery of money.
2. Case of the plaintiff, in brief, is as under :
The plaintiff is a body corporate constituted under
the Banking Companies (Acquisition & Transfer of Undertakings) Act,
1970, having its branch office at 167, Navyug Niwas, Opp. Minerva
Cinema, Lamington Road, Mumbai – 400 007. Constituted Attorney
Norbert Kujur filed the suit for the plaintiff bank. Basically, the suit is
filed by Constituted Attorney of Syndicate Bank. Subsequently,
Syndicate Bank is amalgamated with Canara Bank and therefore,
amendment is carried out in the plaint as per order in Chamber
Summons No. 155/2021 passed on 22/01/2021. Defendant is a
proprietary concern represented by proprietor Prakash Gundaye. On an
application dated 20/04/2016 of the defendant, the plaintiff had
sanctioned term loan of Rs.5,90,000/ to the defendant for purchasing
Maruti Dzire for commercial purposes. Accordingly, sanction letter was
issued on 30/04/2016. The defendant also executed other documents
including Deed of Hypothecation of the vehicle. Though the loan
amount was to be repaid with monthly installments of Rs.13,256.77
within period of 60 months with interest at the rate of 10.90% p.a., the
defendant committed breach in repayment of the loan amount.
Account of the defendant turned NPA on 01/03/2018. Then, legal
notice was issued on 15/02/2019 calling upon the defendant to pay
outstanding amount, but the defendant failed to make payment. Hence,
the plaintiff filed the suit for recovery of outstanding amount of
Rs.4,12,029.95 with further interest at the rate of 9.85% p.a. with
monthly rests from the date of filing of the suit till the date of
realization with costs of the suit.
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Comm.Suit No. 412/2020. 3 Ex-parte Judgment (Exh.17).
3. The defendant is duly served with writ of summons as per
affidavit of service (Exh.3), but he failed to appear and oppose the
claim of the plaintiff. Therefore, I passed the exparte order against him
on 20/12/2021.
4. PW 1 Amit M. Gaikwad, Officer of the plaintiff bank
deposed on evidence affidavit (Exh.4) and proved documents filed with
list of documents (Exh.5). Proved documents are at Exh.6 to 15. The
plaintiff closed evidence vide pursis (Exh.16). Heard learned counsel
Miss Sujata Dahigaonkar for the plaintiff.
5. After considering pleadings of the plaintiff and evidence on
record, following points arose for my determination with my findings
against them with reasons to follow :
SR.NO. POINTS FINDINGS
1. Does the plaintiff prove that he is
entitled to recover amount of
Rs.4,12,029.95 from the defendant ? If
yes, at what rate of interest ? In the Affirmative.
@ 9.85% p.a. with
monthly rest.
2. What order as to costs ? As per final order.
3. What order and decree ? Suit is decreed.
REASONS
AS TO POINTS NO.1 AND 2 :
6. PW 1 Amit M. Gaikwad has specifically stated that the loan
amount enumerated in the plaint was sanctioned for purchasing the
vehicle to the defendant. The said vehicle is also hypothecated as per
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Comm.Suit No. 412/2020. 4 Ex-parte Judgment (Exh.17).
Exh.8. The defendant failed to make payment. The defendant
neglected to make payment of outstanding loan amount as stated in
statement of account (Exh.14 colly.). In short, claim of the plaintiff is
proved from oral as well as documentary evidence on record.
7. So far as interest rate is concerned, the plaintiff has claimed
interest at the rate of 9.85% p.a.. Interest rate is within the range
enumerated in Hypothecation Agreement (Exh.8) and it can be granted.
Costs of the suit is liable to be imposed on the defendant. In the light of
above discussion, I record my finding as to point no.1 in the affirmative.
Hence, I pass the following order :
ORDER
1. Commercial Suit No. 412/2020 is decreed.
2. The defendant is directed to pay amount of Rs.4,12,029.95
(Rupees Four Lakhs Twelve Thousand Twentynine and
Paise Ninetyfive Only) to the plaintiff with interest @
9.85% p.a. with monthly rest from the date of the suit till
the date of realization within three months from the date of
decree.
3. The defendant shall bear the costs of the suit.
4. Decree be drawn up accordingly.
(R.R.BHAGWAT)
Judge, City Civil Court,
(Court Room No.31)
Date : 29/03/2022. Mumbai.
1. Dictated online on : 29/03/2022.
2. Signed on : 29/03/2022.
3. Delivered to Certified :
Copy Section on
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Comm.Suit No. 412/2020. 5 Ex-parte Judgment (Exh.17).
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
29/03/2022. 3.24 p.m. Miss M.A.Kulkarni.
Name of the Judge (with Court Room no.) HHJ Shri R.R.Bhagwat.
(Court Room No.31).
Date of Pronouncement of Judgment/Order 29/03/2022.
Judgment/Order signed by P.O. on 29/03/2022.
Judgment/Order uploaded on 29/03/2022.
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