Final Order 1

Order Details: Copy of Judgment
Pdf Text: Judgment in Suit No. 1036 of 2020 1
MHCC010012842020
Presented on : 30-01-2020
Registered on : 07-03-2020
Decided on : 16-07-2024
Duration : 4 Yr, 5 M, 16 D.
Exh.
IN THE CITY CIVIL COURT FOR GR. BOMBAY AT MUMBAI
SHORT CAUSE SUIT NO.1036 OF 2020.
IDBI BANK, ]
A company incorporated under the ]
Companies Act, 1956 under ]
CIN No.L65190MH2004GOI148838 ]
Having its office at IDBI Tower, ]
WTC Complex, Cuffe Parade, ]
Mumbai 400 005. ]
And it’s concerned Branch at ]
G-2, Corpora, Near Shangrila Biscuit ]
Company L.B.S. Marg, Bhandup (West), ]
Mumbai – 400 078. ] .... Plaintiff.
V/s
Nitin Shakharam Dalvi. ]
Gurukrupa Society, ]
Room No.8, Sayadri Nagar, ]
Bhandup (West), ]
Mumbai – Pin – 400 078. ]….Defendant.
Appearance:
Adv. Girin Pandit for the plaintiff.
Defendant -Exparte.
SUIT FOR RECOVERY OF MONEY
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Judgment in Suit No. 1036 of 2020 2
Coram : Smt. Ashwini V. Kasture.
CR No. : 59.
Date :16th July, 2024.
ORAL JUDGMENT
This is suit for recovery of an amount of Rs.
1,78,957/- with interest at the rate of 9.80% p.a.
Brief facts of the plaintiff’s case are as under :
2. The plaintiff contends that it is company constituted under
Banking Companies Act,1956. The defendant is also having business of
running auto rickshaw.
3. The plaintiff further contends that the defendant
approached it to sanction term loan on 29.07.2016 Rs.1,80,000/- Thus,
the plaintiff sanctioned the loan of Rs.1,80,000/- by sanction letter to
the defendant to purchase the Auto Rickshaw. In answer to loan, the
defendant executed the Loan Application, Hypothecation Agreement
etc., in favour of the plaintiff.
4. It is specific case of the plaintiff that the defendant has paid
installment in a manner which suited to him and not as per the regular
EMI fixed by the plaintiff-Bank. After 05.10.2018 the defendant
neglected to pay the installments. Hence, his loan account was termed
as ‘Non Performing Assets’ (in short ‘NPA’) on 09.12.2016. Therefore,
the plaintiff issued notice dated 12.06.2018, but in vain. The defendant
was bound to pay Rs.1,78,957/- on 05.10.2018 with interest at the rate
of 09.80% p.a. Hence, this suit.
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Judgment in Suit No. 1036 of 2020 3
5. Though the Defendant is served with Writ of Summons vide
Exh. 8 on 21st November, 2022, he failed to appear, hence, suit
proceeded ex-parte.
6. The plaintiff examined one Mr. Vijay Kumarr (PW 1) at
Exh. 9 and also filed list of documents at Exh.10 which are as follows :
Sr.
No.
Documents
1. Authority Letter
2. Application dated 29.07.2016
2. Sanction Letter dated 29th July, 2016
3. Hypothecation-cum-Loan Agreement dated 29th July,
2016
4. Demand Promissory Note dated 29th July, 2016
5. Demand Promissory Note Delivery Letter dated 29th
July, 2016.
6. Invoice No.1794 dated 01.08.2016 raised by M/s.
Arihant Auto Agency and RTO Certificate in name of
defendant.
7. Acknowledgment of Liability.
8. Recall Notice dated 12.06.2018.
9. NPA Certificate.
10. IT Certificate.
7. The plaintiff close its evidence vide pursis at Exh.11.
8. Considering the facts, evidence and law applicable to the
case, following points arise for determination of the case:
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Judgment in Suit No. 1036 of 2020 4
Sr. No. POINTS FINDINGS
1. Does the plaintiff prove that it is
entitled to recover an amount of
Rs.1,78,957/- at the rate of
09.80% p.a. from the defen-
dants from the date of the suit
till realisation?
..Yes..
with interest
@7.5% p.a.
2. Whether the suit is within the
limitation?
..Yes..
3. What order and decree? Suit is partly
decreed.
:REASONS:
As to Point No. 1 & 2
9. It is needless to say that as suit proceeded exparte,
hence, the pleading and evidence of the plaintiff has remained
unchallenged.
10. The copy of the Loan application dated 29.07.2016,
Sanction Letter dated 29.07.2016 and Hypothecation Agreement dated
29.07.2016 demonstrate that the plaintiff had sanctioned loan to the
defendant. The Copy of Statement of account shows that on
10.09.2026, the suit amount was due with interest as claimed by the
plaintiff. The defendant made last payment on 24.03.2017, therefore,
the suit is within the limitation. It is needless to show that oral and
documentary evidence has remained unchallenged. Thus, the plaintiff
succeeded to show that it is entitled to recover the suit amount.
11. The plaintiff-Bank claims an interest at the rate of 09.80 %
p.a. as per the statement of loan account. But in the interest of the
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Judgment in Suit No. 1036 of 2020 5
justice, it would be just and proper to award interest at the rate of 7.5%
p.a. Accordingly point No. 1 & 2 are answered.
12. Non payment of the suit amount led the plaintiff to
institute the suit, hence, the plaintiff would entitle to the cost of the
suit. Accordingly, in answer to point No. 3 following order passed :
ORDER
1. The Suit No. 1036 of 2020 is partly decreed with cost as
under :
2. The defendant is ordered to pay an amount of
Rs.1,78,957/- (Rs. Ono Lakh, Seventy Eight Thousand Nine
Hundred Fifty Seven Only) within two months of the order
alongwith interest at the rate of 07.5% p.a. from the date of the
suit till its realization.
3. Decree be drawn up accordingly.
4. The Suit No.1036 of 2020 is disposed off accordingly.
(Dictated and Pronounced in Open Court).
(A.V. Kasture)
Judge,
City Civil and Sessions Court
Date.:16.07.2024 Greater Bombay (CR 59).
Declared on : 16.07.2024
Directy typred on : 16.07.2024
Checked on : 16.07.2024.
Signed on :
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Judgment in Suit No. 1036 of 2020 6
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
18.07.2024 at 15.05 -a.m. Mrs. P.R.Wagh
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (with Court
Room No.)
HHJ SHRI.U.C.Deshmukh(C.R.No.59)
Judge.,City Civil & Sessions Court,
Date of pronouncement of /Order 16.07.2024
Order signed by P.O. on 18.07.2024
order uploaded on 18.07.2024
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
08.02.2024 at 12.24 -p.m. Mrs. P.R.Wagh
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
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Judgment in Suit No. 1036 of 2020 7
Name of the Judge (with Court
Room No.)
HHJ SHRI.U.C.Deshmukh,(C.R.No.59)
Judge.,City Civil & Sessions Court,
Date of pronouncement of /Order 24.01.2024
Order signed by P.O. on 07.02.2024
order uploaded on 08.02.2024
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