Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1
MHCC010019112020 Presented on : 12-02-2020
Registered on : 27-11-2021
Decided on : 24-06-2022
Duration : Y M D
02 04 12
BEFORE THE CITY CIVIL COURT, MUMBAI
( Court No.14 )
(Presided Over by Sunil U. Hake)
COMMERCIAL SUIT NO.1314 OF 2021
Ex.13
Deutsche Bank, A. G. a Banking company
incorporated and existing under the laws of
Federal Republic of Germany Deutsche Bank
A.G. Taunusalage 12 and has its branch offices
at various locations in India, inter alia, at
Deutsche Bank, A. G. Kodak House, Dr.D.N.Road,
Fort, Mumbai 400 001. A copy of the "Certificate
of Establishment of Place of Business in India"
issued by the Registrar of the Companies. ..Plaintiff
VERSUS
1. Omkar Gratings Pvt. Ltd. (Borrower)
Unit No.21, 2nd Floor, Hema Industrial Estate,
Sarvodaya Nagar, Jogeshwari East,
Mumbai 400 060.
2. Kaushik Upadhyaya ( Director )
D1/78 Greenfield Rock End CHSL
Greenfield Complex, J.V.Link Road,
Andheri East, Mumbai 400 093.
-- 1 of 6 --
2
3. Angad Kaushik Upadhyaya ( Director)
D1/78 Greenfield Rock End CHSL,
Greenfield Complex, J.V.Link Road
Andheri East, Mumbai 400 093 ..Defendants
________________________________________________________
Ld. advocate Aarti Dharamsay for plaintiff.
DefendantExparte.
________________________________________________________
JUDGMENT
(Delivered on this 24 th day of June, 2022)
Suit is for recovery of an amount of Rs.7,58,859.66/
alongwith future interest.
Plaintiff's case is as under :
2. Plaintiff is a banking company. Defendant No.1 is
the private limited company. Defendant Nos.2 and 3 are the
directors of defendant No.1company. On 10/12/2014,
defendants applied for Business Installment Loan of Rs.30 lacs.
On 12/01/2015, plaintiff bank sanctioned Business Installment
Loan of Rs.30 lacs to defendant No.1company. Defendant Nos.2
and 3 accepted terms and conditions of the said Business
Installment Loan of Rs.30 lacs on behalf of defendant No.1.
Defendants have executed Business Installment Loan agreement
dated 12/01/2015. They agreed to repay the said amount of
Rs.30 lacs in 36 monthly installments of Rs.1,02,460/.
Defendants agreed to pay interest at the rate of 13.9% p.a.
Defendants have issued a mandate of Electronic Clearing Service
-- 2 of 6 --
3
for an amount of Rs.1,17,068/ to their bank ICICI bank,
AndheriEast branch. However, defendants failed to repay the
loan amount. Plaintiff issued notice, through advocate, on
26/03/2019 directing defendants to pay an amount of
Rs.7,58,859.66/ which was outstanding against them.
Defendants failed to pay the outstanding amount. Hence, this
suit.
3. As per service affidavit (Ex.2), defendant Nos.1 to 3
were duly served with writ of summons. But, they failed to tender
their appearance. Therefore, as per order dated 21/03/2022, suit
proceeded exparte against defendants.
4. Heard Ld. advocate for plaintiff.
5. Following points arise for determination, findings
thereon for the reasons to follow, are as under:
Sr. No. Points Findings
1. Does the plaintiff prove that an
amount of Rs.7,58,859.66/ is
outstanding against defendants?
Proved
2. What order? Suit is decreed as per
final order.
REASONS
Point No.1
6. In order to substantiate the claim, plaintiff bank has
-- 3 of 6 --
4
examined PW1 Vithoba Korgaonkar at Ex.3. Plaintiff relied upon
following documents:
Ex.5 Authority letter
Ex.6 Loan application
Ex.7 Sanction letter
Ex.8 Loan agreement
Ex.9 Electronic service registration form
Ex.10 Office copy of the legal notice
Ex.11 Statement of account
Plaintiff filed evidence closing pursis at Ex.12.
7. PW1 Vithoba deposed that defendants have applied
for Business Installment Loan of Rs. 30 lacs on 10/12/2014.
Plaintiff bank sanctioned loan of Rs.30 lacs on 12/01/2015.
Defendants availed said loan. Defendants executed Business Loan
Agreement dated 12/01/2015.Defendants agreed to repay loan
amount of Rs.30 lacs in 36 monthly installments of Rs.1,02,460/.
They also agreed to pay interest at the rate of 13.9% p.a. Oral
evidence of PW1 Vithoba is well supported by loan application
(Ex.6) and sanction letter (Ex.7). As discussed supra, suit
proceeded exparte, therefore evidence adduced by plaintiff
remain unchallenged. The material produced on record shows
that defendants availed Business Installment Loan of Rs. 30 lacs.
Statement of Account (Ex.11) shows that an amount of Rs.
7,58,859.66/(balance outstanding of Rs. 6,64,297.29/ plus
Monthly charges overdue Rs. 94562.37/) is outstanding against
-- 4 of 6 --
5
defendants. Thus, plaintiff has succeeded to prove that an
amount of Rs.7,58,859.66/ is outstanding against defendants.
Point No.1 is answered accordingly.
8. Plaintiff claimed interest at the rate of 13.9% p.a. As
per sanction letter (Ex.7), plaintiff is entitled to charge interest @
4% p.a. over base rate. Plaintiff is claiming interest at the rate of
13.9% p.a. As per sanction letter (Ex.7), plaintiff is entitled for
the same. In the result, following order:
ORDER
1. Commercial suit is decreed with costs.
2. Defendants shall pay an amount of Rs.7,58,859.66/
(Rupees Seven Lacs Fifty Eight Thousand Eight Hundred
Fifty Nine and Sixty Six paise only) alongwith interest @
13.9% p.a. to plaintiff from the date of the suit till its
realization within two months.
3. Court fees be refunded as per (E) Rules framed under
Section 11(2) of the Bombay City Civil Court Act, 1948, for
the refund of Institution Fee.
4. Decree thus follow.
24/06/2022 SUNIL U.HAKE
JUDGE,
CITY CIVIL COURT,
GR.MUMBAI.
Dictated on : 24/06/2022
Transcribed on : 28/06/2022
Signed on : 28/06/2022
-- 5 of 6 --
6
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE
ORIGINAL SIGNED JUDGMENT/ORDER”.
28/06/22 at 5.15 pm.
Mrs.Tanushree C.Kamble
Name of the Judge HHJ SHRI SU Hake
Date of Pronouncement of
judgment/order
24/06/2022
Judgment and order signed by P.O. 28/06/2022
Judgment/order uploaded on 24/06/2022
-- 6 of 6 --