Order 1

Order Details: Copy of Judgment
Pdf Text: MHCC010022762018
Presented on 13-02-2018
Registered on 16-04-2018
Decided on 20-10-2020
Duration Yrs. M. Days
02 08 00
CNR No. MHCC01-002276-2018
EXH.
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
SUIT NO.1846 OF 2019
CENTRAL BANK OF INDIA
a body corporate Constituted and functioning
under the Banking Companies (Acquisition and
Transfer of Undertaking) Act, 1970, having its
Central Office at Chander Mukhi, Nariman
Point, Mumbai – 400 021 and also amongst
others, Dharavi Branch having its office situated
at Gold Field Plaza, Near ONGC, Bandra-Sion
Link Road, 90 feet Road, Dharavi, Mumbai –
400 017.
...Plaintiff.
V/s.
1. M/s. RAJU LEATHER
A Proprietary Firm
2. Mr. RAJU BHANU MATKAR
Proprietor M/s. RAJU LEATHER
An Adult, Indian Inhabitant,
M
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Both Defendants having address
at Room No.66, Manav Sewa Sangh, Kala Killa,
Dharavi, Mumbai 400 017.
....Defendants.
Appearances:
Ld. Adv Mr. Vikas Kapile for plaintiff.
None for defendants.
CORAM : HIS HONOUR JUDGE
SHRI SHANKAR
G.BORLEPWAR
(C.R.No.20)
DATED : 20th October, 2020
J U D G M E N T
1. This is a suit for recovery of amount.
2. In brief, it is contention of the plaintiff that plaintiff is a
Bank. Plaintiff Bank is carrying on business inter alia as Bankers and
Financiers. Defendant No.1 is proprietory firm. Defendant No.2 is
Proprietor of defendant No.1 firm.
3. Defendant No.2 on behalf of the defendant No.1
approached to the plaintiff Bank to provide loan in the nature of Over
Draft/Cash Credit Working Capital Limit in sum of Rs.5,00,000/- (Rs.
Five Lakhs Only). The plaintiff Bank sanctioned the loan. Defendant
No.2 on behalf of the defendant No.1 agreed to repay the loan amount
with interest at the rate of 10.75%. Defendant No.2 on behalf of the
defendant No.1 executed necessary agreement. Initially defendants
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paid the amount Over Draft for few months and thereafter failed and
neglected to repay the dues. Plaintiff Bank through Advocate issued
Notice to the defendant No.1 on 19.12.2017 and called upon to the
defendants to pay the amount with interest. Defendants neither sent
reply nor paid the amount with interest. Therefore the suit be decreed.
4. Defendants served writ of summons even though remained
absent before the Court. Therefore, as per Roznama / noting dated
26.06.2019 the suit is proceeded ex-parte against both the defendants.
5. Plaintiff Bank examined PW 1 Mr. Abdul Kadar Sheikh by
filling evidence affidavit Exh.4. Documents exhibited in the evidence
affidavit of PW.1 is as under :
Exh. Sr.No. Particular
Exh.6 1 Authority letter.
Exh.7
Colly.
2 Over draft agreement dt.02.06.2014.
Exh.8
Colly.
3 Agreement of hypothecation dt.14.07.2014.
Exh.9
Colly.
4 Office copy of advocate notice dt. 19.12.2017
alongwith acknowledgement.
Exh.10
Colly.
5 Statement of account alongwith certificate u/s 65B.
6. P.W.1 deposed as per averments of the plaint. He states
defendant No.2 on behalf of the defendant No.1 approached to the
plaintiff Bank for the said loan amount. Defendant No.2 on behalf of
the defendant No.1 executed Over draft Agreement dated 02.06.2014
and agreed to repay the loan amount Rs.5,00,000/- with interest at the
rate of Rs.10.75% per annum at floating rate compounded on monthly
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rest basis. Defendant No.2 on behalf of the defendant No.1 executed
Agreement of Hypothecation to Secure Demand Cash Credit against
Goods dated 14.07.2014 in favour of plaintiff Bank. Defendants made
defaultl in making regular payment. As a result plaintiff Bank
constrained to classify cash Credit Account of defendant No.1 as non
performing Asset on 28.01.2016. Plaintiff Bank issued notice dated
19.12.2017 to defendant No.1 and called upon to the defendant to pay
the amount due with interest. Suit is lodged on 13.02.2018.
7. Perused Exh.6 Authority letter. It is mentioned therein that
PW 1 Mr. Abdul Kadar Sheikh authorised to all such matters which are
necessary for the recovery of dues against the defendants.
8. Perused Over draft Agreement Exh.16 (Colly). Amount of
Over draft is mentioned upto the extent of Rs.5,00,000/-. The rate of
interest is mentioned 10.75% per annum.
9. Perused Agreement Hypothecation Exh.8 (Colly). Loan
amount of Rs.5,00,000/- and rate of interest is mentioned therein.
10. Perused office copy of the Advocate Notice dated
19.12.2017 issued to the defendant No.1 and 2 Exh.9 (Colly). It is
mentioned therein that the account of defendants is classified as non
performing assests on 29.03.2016. Defendants are called upon to pay
to plaintiff outstanding dues amounting to Rs.5,13,340/- with interest
at the rate of 10.75 % per annum on Rs.5,13,340/- from 29.03.2016 till
full realisation.
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11. Perused statement of Account Exh.10(Colly). Cash of
Rs.23,500/- credited on 22.12.2015 in the said account. Last interest
debited to the said account on 31.03.2016 i.e. Rs.17.00/-.
13. There is nothing on record to discard the testimony of
P.W.1. Therefore, plaintiff Bank is entitled to recover amount of
Rs.5,13,340/- from defendant Nos.1 and 2 jointly and severally with
interest at the rate of Rs.10.75% p.a. on a sum of Rs.5,13,340/- from
the date of filing the suit till its full realisation. Hence, I proceed to
pass the following order.
ORDER
The Suit No.1846.2019 is decreed with costs as under :
1. Defendant No. 1 and 2 jointly and severally to pay to the plaintiff
bank a sum of Rs.5,13,340/-(Five Lacs Thirteenth Thousand
Three Hundred and Forty Only).
2. Defendant No.1 and 2 jointly and severally to pay to the plaintiff
bank interest at the rate of 10.75% per annum on a sum of
Rs.5,13,340/-(Five Lacs Thirteenth Thousand Three Hundred and
Forty Only) from the date of filing of the suit till its full
realisation.
3. Decree be drawn up accordingly.
( SHANKAR G. BORLEPWAR )
Judge, (C.R.No.20)
Dt.: 20/10/2020 City Civil Court, Gr. MUMBAI
Dictated on : 20/10/2020
Transcribed on : 05/11/2020
Checked on : 09/11/2020
and Signed on : 09/11/2020
( SHANKAR G. BORLEPWAR )
Judge, (C.R.No.20)
City Civil Court, Gr. MUMBAI
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“CERTIFIED TOBE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
09.11.2020 at 04.00 p.m.
UPLOAD DATE AND TIME (VARSHA U. PAWAR)
NAME OF STENOGRAPHER
Name of the Judge HHJ SHRI S. G.
BORLEPWAR
(COURT ROOM NO.20)
Date of pronouncement of judgment/order 20.10.2020
Judgment/order signed by P.O. on 09.11.2020
Judgment/order uploaded on 09.11.2020
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