Order 1

Order Details: Ex-parte Judgement
Pdf Text: SUMMARY SUIT NO.414/2018 1
Received on : 15022018
Registered on : 03042018
Decided on : 20082019
Duration : 01Y 06M 04D
IN THE BOMBAY CITY CIVIL COURT AT MUMBAI
SUMMARY SUIT NO. 414 OF 2018
(CNR NO.: MHCC010024202018)
GANJAM TRADING CO.PVT.LTD.
13th floor, Times Tower,
Kamalacity Senapati Bapat Marg,
Lower Parel, Mumbai400013. ...Plaintiff
Versus
M/S. TEMPLE ROSE REAL ESTATE PVT.LTD.
Having its registered office at
202, Parasmani Tower, 95 M.M.G.S.Marg,
Naigaon Cross Road, Near Dadar Stn.
Dadar(E), Mumbai400014. ….Defendants
Appearances:
Advocate Mr.Udayan S Jain for the Plaintiff.
Defendants Exparte.
CORAM : HIS HONOUR JUDGE
SHRI.M.S.LONE
(C.R.NO.28)
DATE : 2OTH AUGUST 2019
J U D G M E N T
This is a suit for recovery of Rs.89,44,832/(Rupees Eighty Nine
Lacs Forty Four Thousand Eight Hundred and Thirty Two only).
2. Plaintiff case in nut shell is that one Mr.Devidas Gobindraj
-- 1 of 5 --
SUMMARY SUIT NO.414/2018 2
Sajnani, director of defendant company approached plaintiff for
financial assistance. Defendant represented that it was in the business of
conversion of huge parcels of land into non agriculture and
infrastructure development and for the said purpose required finances
on interest. On the representation of defendant plaintiff advanced a
short term loan of Rs.54,48,250/in favour of defendant. For the
purpose of collateral security the defendant executed and entered into
an agreement for sale with the plaintiff with respect to lands owned by
defendants. It was agreed that defendant shall pay back the total
amount along with interest @ 25% p.a. It was also agreed that the
principal amount along with interest shall be paid on or before
completion of four years from the date of the advancement of the loan.
The defendant has paid interest of Rs.34,05,156/ till July 2015 but
thereafter had failed to repay the loan amount. The defendant is in
default of Rs.89,44,832/(Rupees Eighty Nine Lacs Forty Four Thousand
Eight Hundred and Thirty Two only) hence this suit.
3. The defendants were served with summons for appearance but
they remained absent therefore, suit is proceeded exparte against
them.
4. From the material on record following points come for my
determination and my findings with reasons are as follows:
POINTS FINDINGS
1. Whether plaintiff proves that he
had given loan of Rs.54,48,250/
to defendant?
Yes
2. Whether plaintiff proves that
amount of Rs.89,44,832/(Rupees
Eighty Nine Lacs Forty Four
Yes
-- 2 of 5 --
SUMMARY SUIT NO.414/2018 3
Thousand Eight Hundred and
Thirty Two only) is due and
recoverable from defendants?
3. Whether plaintiff is entitled for
recovery of Rs.89,44,832/(Rupees
Eighty Nine Lacs Forty Four
Thousand Eight Hundred and
Thirty Two only) with interest as
claimed?
Yes
4. What order and decree? As per final order
REASONS
AS TO POINT NOS.1 TO 4.
5. Since all points are interlinked they are discussed together. To
prove its case plaintiff examined Shri Ravindrasingh Shersingh
Chauhan vide Exh.6 and filed extract of board resolution, original bank
confirmation, original agreement for sale, advocate notice and postal
receipt.
6. Heard Ldcounself for plaintiff.
7. Affidavit is supported by documentary evidence. The original
bank confirmation, original agreement for sale, advocate notice and
postal receipt shows that one Mr.Devidas Gobindraj Sajnani, director of
defendant company approached plaintiff for financial assistance.
Defendant represented that it was in the business of conversion of huge
parcels of land into non agriculture and infrastructure development and
for the said purpose required finances on interest. On the representation
of defendant plaintiff advanced a short term loan of Rs.54,48,250/in
-- 3 of 5 --
SUMMARY SUIT NO.414/2018 4
favour of defendant. For the purpose of collateral security the defendant
executed and entered into an agreement for sale with the plaintiff with
respect to lands owned by defendants. It was agreed that defendant
shall pay back the total amount along with interest @ 25% p.a. It was
also agreed that the principal amount along with interest shall be paid
on or before completion of four years from the date of the advancement
of the loan. The defendant has paid interest of Rs.34,05,156/ till July
2015 but thereafter had failed to repay the loan amount. The defendant
is in default of Rs.89,44,832/(Rupees Eighty Nine Lacs Forty Four
Thousand Eight Hundred and Thirty Two only). As far as rate of interest
is concerned plaintiff has prayed interest @ 25%p.a.that rate of interest
is exorbitant, however interest @ 12% p.a.will be just and proper.
Therefore point No.1 to 3 are answered as 'Yes' and following order is
passed.
ORDER
1. Suit is exparte decreed with costs.
2. Defendant company do pay to plaintiff amount of Rs.89,44,832/
(Rupees Eighty Nine Lacs Forty Four Thousand Eight Hundred and
Thirty Two only) with interest @ 12% p.a. from the date of filing of the
suit till full and final realization.
3. Court fee be refunded as per rules.
4. Decree be drawn up accordingly.
(M.S.LONE)
Judge,
Date: 20/08/2019 City Civil Court,Gr. Bombay
Dictated on : 20/08/2019
Transcribed on : 22/08/2019
Signed on : 22/08/2019
-- 4 of 5 --
SUMMARY SUIT NO.414/2018 5
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER.”
27/08/2019 adt 10.45a.m. Mrs.J.V.Pawar
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (With Court
Room No.)
HHJ Shri.M.S.Lone
(C.R.NO.28)
Date of pronouncement of
Judgment/Order
20/08/2019
Judgment/Order signed by P.O. on 22/08/2019
Judgment/Order uploaded on 27/08/2019
-- 5 of 5 --