Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: Summ. Suit No. 571/18
Filed on : 16.02.2018
Registered on : 05.06.2018
Decided on : 15.02.2020
Duration : Yr-01 Ms-08 Ds-11
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
SUMMARY SUIT NO.571 OF 2018
(CNR NO.MHCC01-002479-2018)
Exhibit-17
Allahabad Bank
A body corporate constituted under the
Banking Companies Acquisition & Transfer
of Undertakings Act, 1970 having its Head
Office at 2, Netaji i Subhash Road,
Kolkata – 700 001.
Inter alia a branch at 26, Senapati Bapat Marg,
Dadar (W), Mumbai-400 028.
Through Senior Manager
Mr. T.R. Meena. ....Plaintif
V/s.
Mrs. Banya Saha W/o. Mr. Swapan Kumar
Saha
Age : 54 yrs., Occ.: Business,
Residing at : A-4, Ground Floor,
Mount Marry Apartment,
Dr. Peter Dias Road, Bandra (W),
Mumbai – 400 050.
Also at 64/01/20A, Khudiram Bose Sarani,
Flat No.3B, Kolkata,
West Bengal – 700 037. ….Defendant
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2 Sum. Suit No. 571 of 2018.
Appearances:-
Learned Advocate Mr. K.R. Lalchandani, for the
plaintif.
Exparte against the Defendant.
CORAM : HER HONOUR JUDGE
SMT. S.G. SHAIKH.
(C.R. NO.59).
DATE : 15th February, 2020.
: J U D G M E N T :
(Delivered on this 15th day of February, 2020.)
This is a suit for recovery of money.
The case of the plaintif in the short is as under :-
2. Plaintif is a Body Corporate, constituted under the
Banking Companies, Acquisition and Transfer of
Undertakings Act, 1970 and is carrying business of
banking. The defendant approached plaintif for loan and
availed loan for purchase of commercial vehicle under
Pradhanmantri Mudra Yoji na. In pursuance of the loan
sanctioned letter, the plaintif sanctioned and disbursed
loan amount of Rs.4,15,000/- to the defendant at the rate
of 11.20% per annum on 08.01.2016. the defendant
availed and utilized the said loan amount of Rs.4,15,000/-.
On 04.12.2018, amount of Rs.3,80,872/- was due and
payable by the defendant. Inspite of receipt of legal
notice, defendant failed to pay the said amount.
According to the plaintif, as on the date of the suit,
defendant is liable to pay amount of Rs.3,80,872/-. Hence,
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3 Sum. Suit No. 571 of 2018.
plaintif is constrained to fle this suit for recovery of loan
amount along with interest.
4. Defendant was duly served with suit summons, but
failed to appear. Hence, suit proceeded exparte against
the defendant.
5. Considering the contentions in the petition, following
points arise for my determination and I record my fndings
thereon with reasons given below :-
Sr.
No.
POINTS FINDINGS
1] Whether plaintif is entitled to
recover amount of Rs.3,80,872/-
along with interest ?
A] If yes, what would be the rate
of interest?
Yes
Rs.3,80,872/-
with interest at
the rate of
Rs.11.20% per
annum.
2] What order and decree? As per fnal
order
: R E A S O N S :
6. In present matter, plaintif fled two claim affidavits
on record at Exh.2 & 3. The plaintif bank further relied on
documentary evidence. Heard Learned Advocate for the
plaintif bank at length.
AS TO POINT NO.1 :-
7. In the present matter the plaintif bank fled its Claim
Affidavits at Exh.2 & 3 and reproduced contentions in the
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4 Sum. Suit No. 571 of 2018.
plaint and fled on record following documentary
evidence:-
Documentary evidence:-
Exhibit
No.
:- Description of document.
4 :- Certifed true copy of Power of Attorney dated
08.10.1996.
5 :- Loan application form dated 19.11.2015.
6 :- Account opening application form dated
19.12.2015.
7 :- Sanction letter dated 08.01.2016.
8 :- Borrowers undertaking letter dated
08.01.2016.
9 :- Acknowledgment of sanction letter dated
08.01.2016.
10 :- Demand promissory note dated 08.01.2016.
11 :- Agreement for Medium Term Loan dated
08.01.2016.
12 :- Trust receipt dated 08.01.2016.
13 :- Proforma Invoice & receipt dated 04.01.2106
& 09.01.2016.
14 :- Statement of account.
15 :- Particulars of claim.
16 :- Notice dated 27.06.2017 & notice dated
21.12.2017, postal receipts and returned
packets.
8. Therefore, the plaintiffs bank has fled evidence
close pursis at Exh.18.
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5 Sum. Suit No. 571 of 2018.
9. The oral and documentary evidence of the plaintiffs
has remained unchallenged. I have gone through the
documentary evidence.
10. All the documents produced by the plaintif at Exh.4
to 16 go to establish that plaintif bank has disbursed loan
of Rs.4,15,000/- to the defendant. The defendant has
failed to pay the loan to the plaintif bank. The
documentary evidence go to establish that the defendant
is liable to pay loan amount Rs.3,80,872/- to the plaintif
bank on the date of fling of the suit towards the said
loan.
11. The plaintif has claimed 13.20% per annum on the
principle amount. As per section 34 of the Code of Civil
Procedure the rate of interest may exceeds 6% per
annum, if the transaction is commercial and there is a
contract pertaining to the same between the parties. In
the present case, the transaction is commercial one, and
there exists contract between the parties as to the rate of
interest which shall be levied. As per the Sanction letter
dated 08.01.2016 at Exh.7, the rate of interest agreed is
11.20% per annum. So considering the agreed rate of
interest between the plaintif and defendant the rate of
interest at the rate of Rs.11.20% per annum would be ji ust
and proper to be awarded on the principle sum adji udged
i.e. amount of Rs.3,80,872/-. Hence, point No.1 is
answered in the affirmative.
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6 Sum. Suit No. 571 of 2018.
AS TO POINT NO.2:-
12. In view of discussion and fnding on point No.1, it is
held that plaintif is entitled to recover Rs.3,80,872/- from
the defendant with interest at the rate of Rs.11.20% per
annum from the date of fling of the suit till its realization.
Plaintif bank is also entitled to recover cost of the suit
from the defendant. Hence, in answered to point No.2, I
proceed to pass the following order.
: O R D E R :
1. The defendant do pay Rs.3,80,872/- (Rs.
Three Lakh Eighty Thousand Eight Hundred
Seventy Two Only) to the plaintif bank with
interest at the rate of 11.20% per annum
from the date of fling of the suit till its
realization.
2. Defendant do pay costs of the suit to the
plaintif bank.
3. Decree be drawn accordingly.
Date :15.02.2020 (Smt. S. G. Shaikh)
Ad-Hoc Judge,
City Civil Court,
Gr. Bombay
Typed on : 15.02.2020
Signed on : 15.02.2020
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED ORDER.”
UPLOAD DATE TIME STENOGRAPHER NAME
15.02.2020 5.45 p.m. Mr. Tushar P. Kuwar
Name of the Judge H.H.J. SABIHA G. SHAIKH.
Ad-hoc Judge.
(Court Room No.59)
Date of pronouncement of
Order
15.02.2020
Order signed by P.O. on 15.02.2020
Order uploaded on 15.02.2020
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