Final Order 1

Order Details: Copy of Judgment
Pdf Text: 1 Judgment in S.C.Suit No 1863/2019
Presented on : 15-02-2018
Registered on : 03-04-2018
Decided on : 22-03-2021
Duration : Y M D
2 11 19
SHORT CAUSE SUIT NO. 1863 of 2019
(OLD SUIT NO. 989 OF 2018)
CNR NO.: MHCC01-002425-2018
ICICI Bank Ltd., a Body Corporate
incorporated and registered under the
Indian Companies Act 1956 and licensed
as a Bank under The Banking Regulation
Act 1949 having registered office at
“ICICI Bank Tower, Near Chakli Circle,
Old Padra Road, Vadodara, 390 007.
Gujarat, and its Corporate office at
ICICI Bank Towers, Bandra-Kurla
Complex, Mumbai 400 051 through
its Power of Attorney Holder
Mr. Sameer Bapu Pange
Age 37 years, The Debt Manager. ...Plaintiff
Versus
Dinesh Ram Anand
Age 30 years, Residing at Flat
R2/402, River Side Moraj Complex,
Toba Village Panvel Raigad,
Panvel Raigad, Navi Mumbai 410206
AND
Shop at Ashapura Mine Chem Limited
Jeevan Udyog Bldg, 3rd Floor, 278
D.N. Road, C.S.T., Fort, Mumbai 400 013. ….Defendant
Appearances:-
Advocate Pranav Dhakne for the Plaintiff.
Defendant ex-parte.
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2 Judgment in S.C.Suit No 1863/2019
CORAM : SMT. S.S. NAGUR,
JUDGE,
(C.R.NO.20)
DATED : 22nd MARCH 2021
Suit for recovery of Rs. 6,93,957/-
J U D G M E N T
The plaintiff has filed the suit for recovery of Auto loan for
amount of Rs. 6,93,957/-
Brief facts of the plaintiff's case is as under :-
2. The plaintiff is a Public Limited Company under the provisions of
the Companies Act, 1956. It is a banking company carrying on its
banking business under the provisions of Banking Regulation Act, 1949
and is a scheduled bank according to Reserve Bank of India Act, 1934.
3. The defendant is the borrower and applied for Auto loan to the
plaintiff bank in the month of September, 2014 for financial assistance
of Rs.8,50,000/- to purchase Maruti Ertiga VDI. The plaintiff bank
sanctioned the loan on 09.09.2014. The defendant has executed the
documents and agreed to pay Rs.18,113/- in 60 equated monthly
installments. The defendant failed to pay the installments. The plaintiff
has issued notice and requested him to pay the amount, but the
defendant failed to pay the amount. Hence the suit for recovery.
4. The defendant was duly served but he failed to appear. Hence, my
predecessor in roznama dated 27.06.2018 has passed order to proceed
Ex-parte against defendant.
5. In view of pleading of the plaintiff, following points arise for my
determination and the reasons with finding thereon are as under :-
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3 Judgment in S.C.Suit No 1863/2019
POINTS FINDING
1) Whether the plaintiff proves
that they have sanctioned Auto
loan of Rs.8,50,000/- and
disbursed the amount to the
defendant?
Yes
2) Whether the plaintiff proves
that they are entitled for
recovery of Rs.6,93,957/- along
with interest at the rate of 24%
per annum?
The plaintiff is entitled to
recover the amount of Rs.
3,16,815/- along with
interest @9% p.a. from the
date of filling of the suit i.e.
15.02.2018 till its realization
3) What order and decree? The suit is decreed with cost.
R E A S O N S
6. Heard advocate Adv. Pranav Dhakne for the Plaintiff.
As to point nos. 1 to 3.
7. The plaintiff to prove the contents of the plaint, filed evidence
affidavit of Mr. Sameer Bapu Pange (Exh.3), plaintiff branch authorized
Mr. Pange to adduce evidence on behalf of plaintiff bank vide Power of
Attorney dated 21.05.2013 (Exh.5). The contents of the affidavit is as
per the plaint. The witness on oath has deposed that amount of
Rs.8,50,000/- was sanctioned and disbursed for purchase of Maruti
Ertiga VDI to the defendant. The defendant has executed the document
in favour of the plaintiff for the above loan facility.
8. The plaintiff has relied on Credit Facility Application Form
dated 09.09.2014 filed by defendant to the plaintiff bank (Exh.6); the
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4 Judgment in S.C.Suit No 1863/2019
Credit Facility Application Form dated 09.09.2014 (Exh.7); unattested
Deed of Hypothecation dated 09.09.2014 (Exh.8); irrevocable Power of
Attorney dated 09.09.2014 (Exh.9); Acknowledgment Form dated
09.09.2014 (Exh.10).
9. The defendant failed to pay the amount. Therefore the
plaintiff issued Loan Recall Notice dated 21.09.2016 (Exh.11). The
defendant failed to pay the amount. The plaintiff to prove that
defendant has failed to pay the amount has relied on statement of
account (Exh.12). On perusal of the statement of account, the balance
due from defendant as on 30.09.2017 is shown as Rs. 3,16,815/-. The
plaintiff has filed the Certificate under Section 65-B of Evidence Act to
prove the contents and authenticity of the printout of the statement of
account.
10. The defendant even after service of Writ of Summons, failed
to appear. The above evidence of plaintiff has gone unchallenged.
Hence, I hold that the plaintiff proved that they have sanctioned and
disbursed the amount of Rs.8,50,000/- to the defendant. The defendant
has paid the installments, but he defaulted to pay the installment since
the year 2016. The plaintiff has filed the suit on 15.02.2018. The
balance amount shown in the statement of account to be recovered
from the defendant is Rs.3,16,815/-. The plaintiff has claimed interest
at the rate of 24% per annum. The said rate of interest is very high.
Hence, I hold that the plaintiff is entitle to recover the amount of
Rs.3,16,815/- along with interest at the rate of 9% per annum from the
date of filling of the suit i.e. 15.02.2018 till its realization. Accordingly,
answering point no. 1 to 3, pass following order:-
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5 Judgment in S.C.Suit No 1863/2019
ORDER
1. The suit is decreed with cost.
2. The defendant is directed to pay amount of
Rs.3,16,815/- (Rs. Three Lakh Sixteen Thousand
Eight Hundred and Fifteen only) to the plaintiff
along with interest at the rate of 9% per annum
from the date of filling of the suit i.e. 15.02.2018
till its realization.
3. Decree be drawn accordingly.
Dated : 22.03.2021 (Smt. S.S. Nagur)
Judge,
City Civil Court
Gr. Mumbai.
Dictated on : 22.03.2021
Typed on : 22.03.2021
Checked & Sign on : 22.03.2021
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6 Judgment in S.C.Suit No 1863/2019
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
UPLOAD DATE TIME NAME OF STENOGRAPHER
23/03/2021 11.10 a.m. Prachi Y. Potdar
Stenographer – Grade I
Name of the Judge HHJ Smt. S.S. Nagur
(C.R.NO.20)
Date of Pronouncement of
Judgment/Order.
22/03/2021
Judgment/order signed by P.O on 22/03/2021
Judgment/order uploaded on 23/03/2021
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