Order 1

Order Details: Copy of Judgment
Pdf Text: –1– Special Civil Suit No.207/2019
Corporation Bank /Mr. Mohd. Aslam
Presented On : 29.01.2019
Registered On : 29.01.2019
Delivered On : 21.01.2020
Duration : 00Y. 11M. 23D.
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
SUMMARY SUIT NO.207 OF 2019
(CNR NO. MH CC010124832018)
Exhibit 16
Corporation Bank.
a body corporate constituted under the
provisions of the Banking Companies
(Acquisition and Transfer of Undertaking)
Act, 1980 having its Zonal Office at 28
Mittal Chambers, 2nd Floor, Nariman Point,
Mumbai – 400 021 and a Branch office
amongst others at Corporation Bank,
520, Mangireesh Building, Ground Floor,
L.J. Road, Cross, Mahim, Mumbai – 400 016. ….Plaintiff
V/s.
Mrs. Saira Banu Abdul Karim,
Age: Adult, Occ.:
Address :Room No.2, G Sector,
B 3 Line, Cheetacamp, Trombay,
Mumbai – 400 088. ...Defendant
Appearances:
Mr. Rohan Sinha h/f M/s. V.B. Tiwari & Co. for the plaintiff.
Exparte against the Defendant.
: J U D G M E N T :
(Delivered on this 21st day of January, 2019.)
This is a suit for recovery of money.
The case of the plaintiff in the short is as under :
2. Plaintiff is a Bank, constituted and established under the
-- 1 of 6 --
–2– Special Civil Suit No.207/2019
Corporation Bank /Mr. Mohd. Aslam
provisions of the Banking Companies (Acquisition and Transfer of
Undertakings) Act 1980.
3. The defendant has borrowed a loan amount of Rs.50,000/ for
meeting working capital requirements of tailoring and readymade
garments busines vide loan sanction letter dated 30.09.2015 and
command deed of hypothecation agreement dated 30.09.2015. The
amount of loan disbursed to the defendant by the plaintiff bank. The
defendant was irregular in paying installment of the loan. According
to the plaintiff bank amount of Rs.39,909/ was due and payable by
the defendant towards the said loan. Defendant has failed to pay
the loan amount to the plaintiff bank inspite of receipt of legal
notice, hence, plaintiff is constrained to file this suit for recovery of
Rs.39,909/ with interest @ 13% from the date of the filing of the
suit till its realization.
4. Defendant was duly served with Writ of Summons dated
25.03.2019, but failed to appear. Hence, suit proceeded exparte
against the defendant.
5. Considering the contentions in the petition, following points
arise for my determination and I record my findings thereon with
reasons given below :
Sr.
No.
POINTS FINDING
1] Whether plaintiff is entitled to recover
amount of Rs.39,909/ along with
interest ?
A] If yes, what would be the rate of
interest?
Yes
Rs.39,909/ with
interest at the
rate of Rs.11.25%
per annum.
2] What order and decree? As per final order
-- 2 of 6 --
–3– Special Civil Suit No.207/2019
Corporation Bank /Mr. Mohd. Aslam
: R E A S O N S :
6. In present matter the plaintiff's Manager/Officer Mr.Noorul
Haque Shaikh has filed his Claim Affidavit on record at Exh.5. The
plaintiff bank further relied on documentary evidence. Heard
Learned Advocate for the plaintiff bank at length.
AS TO POINT NO.1 :
7. In the present matter the plaintiff bank filed its Claim Affidavit
at Exh.5 and reproduced contentions in the plaint and filed on
record following documentary evidence:
Documentary evidence:
1. Exhibit No.7 : This document is original Loan
Application dated 29.09.2015.
2. Exhibit No.8 : This document is the original copy of
Sanction letter dated 30.09.2015.
3. Exhibit No.9 : This document is the original copy of
Demand Promissory Note dated
30.09.2015.
4. Exhibit No.10 : This document is the original copy of
Take Delivery Letter to D.P.Note dated
30.09.2015.
5. Exhibit No.11 : This document is the original copy of
Letter of Undertaking dated
30.09.2015.
2 Exhibit No.12 : This document is the original copy of
Common Deed of hypothecation
agreement dated 30.09.2015.
2 Exhibit No.13 : This document is the Legal Notice
dated 21.08.2018
3 Exhibit No.14 : This document is the Statement of
Account dated 08/07/2019
8. The oral and documentary evidence of the plaintiff's has
-- 3 of 6 --
–4– Special Civil Suit No.207/2019
Corporation Bank /Mr. Mohd. Aslam
remained unchallenged. I have gone through the documentary
evidence.
9. All the documents produced by the plaintiff at Exh.7 to 14 goes
to establish that plaintiff bank has disbursed loan of Rs.39,909/ to
the defendant. The defendant has failed to pay the loan to the
plaintiff bank. The statement of account Exh.14 goes to establish
that the defendant is liable to pay loan amount Rs.39,909/ to the
plaintiff bank on the date of filing of the suit towards the said loan.
10. The plaintiff has claimed 13% per annum on the principle
amount. As per section 34 of the Code of Civil Procedure the rate of
interest may exceeds 6% per annum, if the transaction is commercial
and there is a contract pertaining to the same between the parties. In
the present case the transaction is commercial one, and there exists
contract between the parties as to the rate of interest which shall be
levied. As per the Loan Application Letter Exh.7 the rate of interest
agreed is 11.25% per annum. So considering the agreed rate of
interest between the plaintiff and defendant the rate of interest at
the rate of Rs.11.25% per annum would be just and proper to be
awarded on the principle sum adjudged i.e. amount of Rs.39,909/.
Hence, point No.1 is answered in the affirmative.
AS TO POINT NO.2:
11. In view of discussion and finding on point No.1 it is held that
plaintiff is entitled to recover Rs.39,909/ from the defendant with
interest at the rate of Rs.11.25% per annum from the date of filing
of the suit till its realization. Plaintiff bank is also entitled to recover
cost of the suit from the defendant. Hence, in answered to point
No.2 I proceed to pass the following order.
-- 4 of 6 --
–5– Special Civil Suit No.207/2019
Corporation Bank /Mr. Mohd. Aslam
: O R D E R :
1. The defendant do pay Rs.39,909/ (Rupees Thirty Nine
Thousand Nine Hundred Nine Only) to the plaintiff bank with
interest at the rate of 11.25% per annum from the date of
filing of the suit till its realization.
2. Defendant do pay costs of the suit to the plaintiff bank.
3. Decree be drawn accordingly.
Date:21.01.2020 (Smt. S. G. Shaikh)
AdHoc Judge,
City Civil Court,
Gr. Bombay
Typed on : 21.01.2020
Signed on :
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED ORDER.”
23.01.2020 at 01.45 pm. PUSHPA RAMESH WAGH
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge HHJ SMT S.G.SHAIKH
(Court Room No.59)
Date of pronouncement of Order 21.01.2020
Order signed by P.O. on 21.01.2020
Order uploaded on 23.01.2020
-- 5 of 6 --
–6– Special Civil Suit No.207/2019
Corporation Bank /Mr. Mohd. Aslam
-- 6 of 6 --