Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: MHCC010028382020 Presented on 04/03/2020
Registered on 31/07/2020
Decided on 05/08/2024
Duration 04Y: 05M: 01D
Exhibit 15
IN THE CITY CIVIL COURT AT MAZGAON, MUMBAI
SUMMARY SUIT NO. 313 OF 2020
Bank of India, ( Nationalized Bank)] ]
A body corporate constituted under ]
Banking Companies (Acquisition & ]
Transfer of undertakings) Act 1970 ]
Having its Head Office at Star House, ]
Plot No. C-5, G-Block, Bandra Kurla ]
Complex, Bandra (E), Mumbai 400051 ]
And its Branch Office at Bhandup West ]
Branch, 1st floor, Madras Cafe building ]
Opp. Dreams Mall, L.B.S. Road ]
Bhandup (W), Mumbai 400078 ]
Tel No.25962556, through its authorized ]
Sr. Manager Mr. Rohit Raj, Age 32 yrs. ]
Bhandup (w) Navi Mumbai@bank of india co.in. ]...Plaintiffs
V/s.
Mr. Ronak Vasant Naik ]
Age not known, Prop. Of M/s. V. M. Travels, ]
Address: D/102, Shree Gana Cooperative Housing ]
Society Ltd., Near Cosmos School, Kokan Nagar, ]
Bhandup (W), Mumbai-400078, M.M.Road, ]
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2 SUM SU NO.313/2020
Mulund (W), Mumbai-400080. ]...Defendant
Appearance:-
Ld. Advocate Ashok V. Kode for the plaintiff.
Defendant absent (Ex-parte).
CORAM : HHJ SHRI SANGRAM SHRIHARI SHINDE
C. R. NO. : 81
DATE : 05/08/2024
JUDGMENT
( Dictated and pronounced in open Court)
01] This is the suit filed under Rule 2 of Order XXXVII of Code
of Civil procedure, 1908 (C.P.C.) for recovery of amount of
Rs. 8,25,056/- with interest from defendant along with further
interest.
Brief facts of plaintiff’s case may be summarized as under:
02] The plaintiff is a banking Nationalized Bank, a Body
Corporate Constituted under Banking Companies (Acquisition and
Transfer of Undertakings) Act, 1970 (in short plaintiff bank). The
plaintiff is carrying on business of banking and having their address at
mentioned in the title clause. The plaintiff bank has various branches
amongst other places including the present Branch known as 'Bhandup
(W) Branch, situated at 1st Floor Madras Cafe Building, Opp. Dreams
Mall, L.B.S. Marg, Bhandup (W), Mumbai-400078. As per the
plaintiff, the defendant approached to the plaintiff Bank to borrow
loan of Rs. 8,93,000/- to purchase vehicle loan on 17/07/2014. The
plaintiff Bank sanctioned loan of Rs. 8,93,000/- to the defendant. The
defendant executed Demand Promissory Note No. L434, Bearer Letter
No.L435, Installment Letter No.L440, Multipurpose Document
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No.L516, Hypothecation cum loan Agreement CHA-2,
Acknowledgment of Debt No. L44C on 17/07/2014. An outstanding
amount of Rs. 8,25,056/- as on 29/02/2020 with interest thereon at
the rate of 11.45% p.a. from 01/03/2020 till realization of loan
amount is due against defendant. As defendant failed to repay the
loan therefore, plaintiff bank issued legal notice dated 15/02/2019
and it is intimated to defendant on 22/02/2019. The defendant
credited an amount on 30/06/2017 and 18/04/2018 in his account.
Therefore, the suit is within limitation. The plaintiff had issued loan
from its Bhandup (W) Branch therefore, this Court has jurisdiction to
decide this suit. Hence, this suit.
03] The writ of summons at Exh. 3 was sent to the defendant
by RPAD and it is served on defendant. Therefore, order was passed to
proceed matter ex-parte against defendant on 10/03/2023.
04] In support of claim, the plaintiff filed its affidavit of claim
of Surendra Upadyay, Branch Manager of the plaintiff bank at Exh. 4
and additional evidence of affidavit at Exh. 4A and reiterated its
contention of recovery of Rs. 8,25,056/- along with further interest on
the said amount at the rate of 11.45% p.a. The plaintiff has filed and
relied upon the following documents.
Sr.
No. Exhibit No. Particulars
1 Exh. 7 Original Demand promissory note dated
17/07/2014
2 Exh. 8 Original Bearer Letter dated 17.07.2014
3 Exh. 9 Original Installment Letter dated 17.07.2014
4 Exh. 10 Original L516 Multipurpose document dated
17.07.2014.
5 Exh. 11 Original hypothecation Cum Loan agreement
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4 SUM SU NO.313/2020
dated 17.07.2014
6 Exh. 12 Original acknowledgment of debt and securities
dated 15.10.2017
7 Exh. 13 Office copy of Legal notice dated 15.02.2019
8 Exh. 14 Computer generated statement of accounts is
supported by certificate under Bankers Book of
Evidence Act, 1819.
05] To decide the present suit, following points arise for my
determination to which my findings are recorded against each of them
for the reasons given below:-
Sr.
No.
Points Findings
1. Whether the plaintiff is entitled
to recover amount of
Rs. 8,25,056/- from defendant?
If yes, at what rate of interest?
Yes.
Entitled to interest @ 7% per
annum on Rs. 6,35,556/- from
04/03/2020, the date of filing of
suit till its full realization.
2 What order and decree? As per final order.
R E A S O N S
AS TO POINTS NO. 1 & 2 :-
06] The counsel for the plaintiff has argued that defendant
had borrowed loan of Rs. 8,93,000/- from them to purchase vehicle.
Accordingly, plaintiff bank sanctioned the loan and defendant agreed
to repay the said loan with interest at the rate of 11.45% p.a.
Defendant had executed necessary documents in favour of plaintiff
bank. The defendant failed to repay the amount. The plaintiff proved
its contention by oral and documentary evidence. The defendant failed
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to appear and contest the matter therefore, plaintiff is entitled for an
amount of Rs.8,25,056/- along with further interest at the rate of
11.45% p.a. Hence, suit may be decreed.
07] The plaintiff bank in support of their contention has filed
the claim affidavit of its witness Mr. Surendra Upadyay as P.W.1 at
Exh. 4 and 4A, Branch Manager of the plaintiff bank and reiterated its
contention in the plaint. Plaintiff bank has filed authority letter dated
11/06/2024 at Exh.15 to show that said witness has authority to
depose in the present matter. Further, plaintiff bank to prove that
defendant approached to the plaintiff bank, borrowed loan of
Rs. 8,93,000/- and further, agreed to repay said loan has produced
original Demand Promissory Note bearing No. L434 dated 17/07/2014
at Exh. 7. Further, plaintiff bank has also filed Bearer Letter No. L435
dated 17/07/2014 at Exh.8, Installment Letter No.L440 dated
17/07/2014 at Exh. 9, Multipurpose Document No.L516 dated
17/07/2014 at Exh. 10, Hypothecation cum loan Agreement CHA-2
dated 17/07/2014 at Exh. 11 and Acknowledgment of Debt No. L44C
dated 15/10/2017 at Exh. 12. It is pertinent to note that defendant
has not appeared in the matter. Therefore, evidence of the plaintiff has
remained unchallenged. Therefore, I hold that plaintiff bank has
proved defendant had borrowed loan of Rs. 8,93,000/- from the
plaintiff bank. Further, defendant had agreed to repay the said loan
with interest at the rate of 11.45% p.a.
08] As per the contention of the plaintiff an amount of
Rs. 8,25,056/- was outstanding on 29/02/2020. The plaintiff bank has
filed statement of account of defendant at Exh.14 alongwith certificate
under Banker's Book of Evidence Act. On perusing statement Exh. 14,
it appears that an amount of Rs. 8,25,056/- was outstanding against
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the defendant. It is pertinent to note that loan was borrowed by the
defendant on 17/07/2014. Further, on perusing loan installment letter
at Exh. 9, it appears loan was to be repaid in 72 installments of
Rs. 17,320/- per month commencing from September, 2014. It appears
that defendant had acknowledged loan on 15/10/2017 at Exh. 12.
Further, defendant had paid an amount on 30/06/2017 and
18/04/2017. On perusing said statement at Exh. 14, it appears that
on 30/06/2017 an amount of Rs. 24,000/- and on 18/04/2017 an
amount of Rs. 10,537/- was paid by the defendant. Thus, suit is within
limitation.
09] Further, as defendant has failed to repay loan therefore,
issued legal notice dated 15/02/2019 at Exh. 13 to the defendant. It
appears that said notice was sent by RPAD however, it is returned with
remark 'intimated'. As discussed above, defendant has failed to appear
in the matter. Therefore, evidence of plaintiff bank has remained
unchallenged. Thus, I am of the view that plaintiff bank has proved
that it is entitled for an amount of Rs. 6,35,556/- towards principal
amount and Rs.1,89,500/- towards interest upto 29/02/2020, total
amounting to Rs. 8,25,056/-.
10] So far as prayer of interest on the said amount is
concerned, the plaintiff bank has claimed 11.45% p.a. interest on the
said amount. Even, I hold that the plaintiff is entitled to the further
interest on the said amount from the date of filing the suit till
realization of amount. However, I am of the view that the same is
excessive as compared to rate of interest of Nationalized Banks.
Therefore, having regard to the provision of section 34 of the Civil
Procedure Code, I am of the view that granting the interest at the rate
of 7% p.a. on the principal amount would be just, proper and
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reasonable. Hence, I hold that the plaintiff bank is entitled to further
interest at the rate of 7% per annum on the principal amount, from the
date of filing the suit till its full realization. Hence, I answer point
No. 1 accordingly. In the result, in answer to point No. 2, I proceed to
pass following order.
O R D E R
1) Summary Suit No. 313 of 2020 is hereby decreed with the
costs.
2) The defendant shall pay an amount of Rs. 8,25,056/- (Rupees
Eight lakhs Twenty Five Thousand Fifty Six only) to the plaintiff.
3) The defendant shall pay to the plaintiff simple interest on
Rs. 6,35,0523/- at the rate of 7% per annum from 04/03/2020,
the date of filing of suit till its full realization.
4) The plaintiff may be entitled to get refund the court-fees paid, if
provided for in Rules.
5) The decree be drawn up accordingly.
(Sangram S. Shinde)
Adhoc Judge,
City Civil Court, Mazgaon, Mumbai.
Date: 05/08/2024 C.R.No.81
Dictated on: 05/08/2024
Corrected & signed on: 05/08/2024
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
06/08/2024 at 5.00 p.m. Mrs. V. V. Malgaonkar
Name of the Judge
(with Court Room No.)
Shri S. S. Shinde
C.R. No.81
Date of Pronouncement of JUDGMENT/
ORDER 05/08/2024
JUDGMENT/ORDER signed by P. O. on 06/08/2024
JUDGMENT/ORDER uploaded on 06/08/2024
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