Final Order 2

Order Details: Ex-parte Judgement
Pdf Text: CS No.100167 / 2021, Canara Bank – Aditya Travels Judgment (Exh.24), 1 of 5
MHCC010026032020 Suit Filed on : 28.02.2020
Registered on : 22.03.2021
Evidence Over : 16.03.2024
Arguments Heard : 18.04.2024
Decided on : 18.04.2024
Duration : 04 Y, 01 M, 21 Days
City Civil & Sessions Court, Mazgaon, Greater Mumbai
Court Room No. 31 – Commercial Court
(Additional District Judge : Vijay S. Hingne, LL. M.)
Commercial Suit No. 100167 / 2021 Exhibit No. 24
Plaintiff : Canara Bank
Head Office : 112, J. C. Road,
Bangalore 560 002.
Branch Office -10, Homji Street Branch,
Fort, Mumbai - 400 023.
VERSUS
Defendant : M/s. Aditya Travels
Proprietor : Vijal Akash Yewale
Room No. 520, 5th floor, Building No. 8,
Everest Tower, Sewree, Wadala Cross Road,
Sankraman Shibir, Wadala (East)
Mumbai – 400 031.
Appearances
Plaintiff
: Adv. Ms. Sujata Dahigaonkar
Defendant
: Ex-parte
Suit for Recovery of ₹. 8,15,792.19/-
************************************************************************
J U D G M E N T
(Delivered on this 18th Day of April, 2024)
Suit is preferred for recovery of .	₹ 8,15,792.19/- with
interest @ 11.50 % per annum with monthly rests.
-- 1 of 5 --
CS No.100167 / 2021, Canara Bank – Aditya Travels Judgment (Exh.24), 2 of 5
Case of Plaintiff :
2) Canara Bank, Mumbai, Maharashtra, (hereinafter,
plaintiff) is Banking Institution.
Defendant M/s. Aditya Travels, Mumbai, Maharashtra,
(hereinafter,
defendant), is borrower.
3) On 14.12.2015, defendant filed loan application for
purchase of Hyundai Xcent for commercial purpose.
Accordingly, on 31.12.2015, plaintiff sanctioned Term
Loan of . 5,65,000	₹ /- to defendant.
Defendant executed various documents and assured to
repay the loan in 84 monthly installment of .	₹ 9,910.78/- each.
However, defendant defaulted repayment. Hence, plaintiff issued
Notice Dt. 09.07.2018, 14.08.2018 and 12.12.2018 calling upon
defendant to repay outstanding loan amount.
Plaintiff submitted the dispute for Pre-Institution
Mediation on 06.08.2019. However, the defendant failed to
appear. Hence, there is Non-Starter Report Dt. 24.01.2020.
As defendant failed to repay the loan, plaintiff preferred
present Commercial Suit No. 100167 / 2021, for recovery of .	₹
8,15,792.19/- with interest @ 11.50 % p. a. with monthly rests.
Defendant :
4) Despite service of summons by way of paper
publication, defendant failed to appear in the Court. Hence, vide
Order Dt. 07.03.2024, the Suit was ordered to proceed ex-parte.
Evidence of Plaintiff :
5) Plaintiff adduced oral and documentary evidence as :
PW1, Exh.8 Evidence of plaintiff Sharanpreet Singh
Exh.10 : Loan Application Dt. 14.12.2015.
Exh.11 : Letter of Sanction and Authority Letter.
Exh.12 : Composite Hypothecation Agreement Dt. 31.12.2015.
Exh.13 : Receipt Dt. 31.12.2015.
Exh.14 : Particulars of Assets and Liabilities.
Exh.15 : Notice Dt. 09.07.2018.
-- 2 of 5 --
CS No.100167 / 2021, Canara Bank – Aditya Travels Judgment (Exh.24), 3 of 5
Exh.16 : Notice Dt. 14.08.2018.
Exh.17 : Legal Notice Dt. 12.12.2018.
Exh.18 : Acknowledgment Card.
Exh.19 : Returned Envelope.
Exh.20 : Statement of Account.
Exh.21 : Particulars of Claim.
Exh.22 : Non-Starter Report Dt. 24.01.2020.
Exh.23 : Evidence Closure pursis filed by plaintiff.
Points for determination :
6) Heard Adv. Ms. Sujata Dahigaonkar for plaintiff.
Perused Record. Points for determination, findings and reasons
are as follows :
Points
Findings
1. Is plaintiff entitled for recovery
as prayed?................................ Partly in Affirmative
2. What Order?............................ As Final Order.
R E A S O N S
Reasons as to Point No. 1 & No. 2 :
7) Plaintiff examined its Officer Sharanpreet Singh (PW1,
Exh.8). He deposed in accordance with pleadings from Plaint and
claimed that, defendant executed documents at Exh.10 to Exh.
14, availed loan facility and then avoided repayment.
8) Despite service of Summons, defendant did not
appeared in the Suit to state that, Suit is false or that he has made
repayment or that for some legal aspects, he is not liable against
the claim.
9) Documents filed by plaintiff are in original. There is
nothing suspicious in those unchallenged documents. Hence, they
are relied upon. They prove the transaction as alleged by plaintiff.
Thereby, plaintiff is entitled for recovery with interest.
10) In Notice Dt. 09.07.2018 (Exh.15), bank claimed as :
-- 3 of 5 --
CS No.100167 / 2021, Canara Bank – Aditya Travels Judgment (Exh.24), 4 of 5
As per the accounts duly maintained by us in the regular
course of business, a sum of Rs. 341683.04 (Rupees
Three Lakh Forty One Thousand Six Hundred and
Eighty Three and Paise Four Only) is overdue in the
loan account as on 09.07.2018.
Considering aforesaid contents, it is held that, defendant was
under liability of .	₹ 3,41,683.04/- which is rounded to 3,41,000/-.
Limitation :
11) As per plaintiff, loan was sanctioned on
31.12.2015.
Therefore, three years limitation for plaintiff to prefer
recovery Suit will conclude on,
30.12.2018.
However, Suit is filed on
28.02.2020.
Hence, aspect of limitation is taken for consideration.
12) Defendant made last payment on
07.05.2018 and
thereafter defaulted the installment.
Said pleading of plaintiff is also not challenged by
defendant. Hence, it is relied upon.
Therefore, three years limitation will commence from
07.05.2018 and will conclude on
06.05.2021.
Suit is filed on
28.02.2020. Hence, it is within
limitation.
Interest:
13) Plaintiff has claimed interest @ 11.50 % per annum.
Perusal shows that, in Sanction Letter Dt. 14.12.2015 at
Exh. 11, parties have agreed rate of interest @ 10.95 % p. a.
If parties have agreed on particular rate of interest, then
such rate of interest can be awarded. Hence, interest @ 10.95 %
per annum can be made applicable.
However, it needs consideration that, the defendant is
not a commercial industry or a businessman. He appears to be
one man borrower, who obtained the loan for his livelihood. In
that circumstances, it would be just, legal and proper that the rate
of interest @ 9 % is made applicable.
-- 4 of 5 --
CS No.100167 / 2021, Canara Bank – Aditya Travels Judgment (Exh.24), 5 of 5
14) In view of unchallenged oral and documentary evidence
of plaintiff, the Suit is entitled for Decree. Therefore, the Points
are so answered and the Suit is partly decreed, as follows :
ORDER
1. Commercial Suit No. 100167 / 2021, Canara Bank Vs
M/s. Aditya Travels, is partly decreed, with
proportionate cost.
2. Defendant, within three months from date of this Order,
shall pay, . 3,41,000
₹
/- ( . Three Lakh Forty One
₹
Thousand Only) to the plaintiff, with interest @ 9 % per
annum, from the date of filing of the Suit, till its
realization.
3. Court fee, if any, be refunded to the plaintiff as per rule.
4. Decree be drawn up accordingly.
5. Judgment pronounced in Open Court.
6. Parties be informed about their right to challenge this
Judgment and period of limitation for same.
7. After compliance and period of Appeal, Shirestedar and
AS to consign Record of the Suit, to Record Room.
Mumbai
Dated : 18.04.2024 (Vijay S. Hingne)
Additional District Judge,
Court Room No.31 - Commercial Court,
City Civil & Sessions Court,
Mazgaon, Greater Mumbai
Visit ecourts.gov.in for updates or download mobile app “eCourts Services” from Android or iOS
-- 5 of 5 --