Final Order 1

Order Details: Copy of Judgment
Pdf Text: Sum.S.No.2572020 1 Exh
Lodged on 07/02/2020
Decided on 02/07/2020
Duration on 02Ys.04Ms.25Ds.
MHCC010017232020
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
SUMMARY SUIT NO.257 OF 2020
Chandresh Bhavanji Lodaya
age 37 years,
Residing at 604, 6th floor,
Chandan Apartment CHS
Chaphekar Bandhu Marg,
Mulund (E), Mumbai400 081 …. Plaintiff
V/s
Shankarlal Prabhudayal Sharma
Flat No.17, Royal Palm Enclave
Shriniwaspura Sathnoor Bagalur,
Banglore (KT) 562149 ….Defendant
Appearance:
Ld.Counsel Devyani Katira for plaintiff.
None for defendant.
CORAM : H.H.J.SHRI.A.V.Kharkar
DATE: 02nd July, 2022 C.R.NO.15
EXPARTE JUDGMENT
This is suit for recovery of amount and having good
relation as friendly loan.
The contention of the plaintiff in brief are as follows.
2. On 15/6/2016, the plaintiff advanced friendly loan of
Rs.5,00,000/ to defendant by cheque drawn on H.D.F.C.Bank,
Mulund (E) Branch, Mumbai. It was agreed that defendant
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Sum.S.No.2572020 2 Exh
would pay interest at the rate of 20% p.a. and repay the loan
within 12 months from the date of disbursement, the plaintiff
failed to repay loan amount despite demand. Hence, this suit
has been filed seeking recovery of amount of Rs.9,29,369.86
with further interest at the rate of 20% p.a. on the principle
amount of Rs.5,00,000/. By order dtd.20/3/2021 my
predecessor ordered the suit to proceed exparte. As the
defendant failed to appear in the matter despite of service of
summons. The matter is proceeded exparte.
3. To prove his case the plaintiff is relying upon his affidavit
of evidence and following documents. Bank statement Exh9,
Legal notice Exh10. Plaintiff has also filed on record written
arguments. Perused written arguments and documents on
record. As the suit is proceeded exparte the evidence adduced by
the plaintiff has gone unchallenged and there is no impediment
in relying upon unchallenged evidence and documents filed on
record. Perusal of the bank statement Exh9 shows that amount
of Rs.5,00,000/ was transferred of defendant on 16/6/2016
and notice Exh10 dtd.19/8/2017. The plaintiff had demanded
the amount alongwith interest. The evidence on record shows
that the amount of Rs.5,00,000/ was received by the defendant.
4. As the evidence has gone unchallenged. There is no
reason to disbelieve that the amount was disbursed to defendant
as and by way of friendly loan. The question with arises is
whether the amount was to be repaid with interest at the rate of
24% p.a. Apart from the oral evidence, there is nothing on
record to show that the parties was agreed to repay the loan
with interest at the rate of 24% p.a. Even in the letter at Exh10
written by the plaintiff to the defendant he has only called upon
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Sum.S.No.2572020 3 Exh
the defendant to repay the amount with interest at priviling
market rate. There is nothing to show that the party had agreed
with interest at the rate of 24% p.a. and being friendly loan the
plaintiff would not be entitled to interest at the rate of 24% p.a.
Considering the lending rates of National Bank the plaintiff
would be entitled to recover the amount with interest at the rate
of 9% p.a. of Rs.5,00,000/ from the date of suit till realization
of the amount.
ORDER
1. Suit is decreed with costs.
2. The defendant is hereby ordered and directed to pay an
amount of Rs.9,29,369.86 ps. to the plaintiff.
3. The plaintiff is entitled to recover an amount with interest
at the rate of 9% p.a. on Rs.5,00,000/ from the date of
filing of suit till realization.
4. Decree be drawn up accordingly.
5. Court fee be refunded as per Bombay City Civil Court
Rule.
Date : 02/07/2022 (A.V.Kharkar)
Judge
City Civil & Sessions Court
Gr.Bombay
Dictated on : 02/07/2022
Transcribed on : 04/07/2022
HHJ Signed on :
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Sum.S.No.2572020 4 Exh
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT/ORDER.”
06/07/2022 3.00pm (Mrs.P. P. Khanvilkar)
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (With Court
room no.)
SHRI A.V.Kharkar
(C.R. No.15)
Date of Pronouncement of
JUDGMENT/ ORDER
02/07/2022
JUDGMENT/ORDER signed by P.O.
on
06/07/2022
JUDGMENT/ORDER uploaded on 06/07/2022
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