Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1 Comm.SU No.4622020
MHCC010033222020
Presented on : 17.03.2020.
Registered on : 26.10.2020.
Decided on : 03.02.2022.
Duration : Y1, M3, D8.
IN THE CITY CIVIL COURT FOR GR.BOMBAY AT MUMBAI
COMMERCIAL SUIT NO.462 OF 2020
BANK OF BARODA, a body ]
Corporate constituted under the ]
Banking Companies (Acquisition and ]
Transfer Of Undertakings) Act, 1970 and ]
having their Corporate Office at Baroda ]
Corporate Centre, G26, G Block, ]
BandraKurla Complex, Bandra (East) ]
Mumbai400 051 and its Altamount ]
Road Branch at 36, Crystal, Kemps Corner, ]
Mumbai400 026 through its ]
Chief Manager Mrs. Rekha Pai. ]......Plaintiff
V/s
Mr. Vinay Dattatryra Patil ]
of Indian Inhabitant, adult, residing 7 & 8, ]
Brahamachitanya Apartment, Opp. ]
Sanjeen Hosptal Golmohar Colony, ]
Sangali, Maharashtra 416416. ]......Defendant
APPEARANCE:
Adv. Divya Bamne i/b M/s A. R. Bamne and Co. for plaintiff.
Defendant – Exparte
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CORAM : RAJESH A. SASNE
ADHOC JUDGE
(C.R.No.32)
DATED : 3 rd February, 2022
EXPARTE JUDGMENT
This suit is under Section 2(i)(c) of the Commercial Courts
Act, 2015, for recovery amount of outstanding loan.
In brief, the plaintiff's case is as under :
2. The defendants had applied for loan from the plaintiff
bank. Pursuant to the same on 27/03/2018, the plaintiff sanctioned
loan of Rs.7,93,000/ to the defendant. The defendant has executed
various documents in favour of plaintiff for obtaining said loan. The
defendant agreed to repay said loan within 48 EMI, each of
Rs.20,708/. The defendant has failed and neglected to repay the
outstanding amount which resulted into classification loan account as
NPA with effect from 23/11/2018. Rs.9,06,647.36ps alongwith interest
at the rate of Rs.11.55% p.a. alongwith penal interest at the rate of 2%
is now due and payable from the defendant. Therefore, the plaintiff has
prayed for decree against the defendant for recovery of said amount
with further rate of interest @ 11.55% p.a. and penal rate of interest at
the rate of 2% from the date of the filing of the suit till realization.
3. In view of order dated 26/11/2021, suit is proceeded ex
parte against the defendant.
4. Heard the learned Advocate for the plaintiff. No argument
of the defendant. Points for determination along with my findings
thereon with reasons are as under:
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POINTS FINDINGS
1. Whether the plaintiff proves that the
defendant has failed to pay Rs.09,06,647.36ps
as outstanding amount of the loan borrowed
by him from the plaintiff Bank ?
Yes
2. If yes, what amount is due and payable by the
defendant to the plaintiff and at what rate of
interest ?
Rs.9,06,647.36ps
alongwith interest
@ 11.55% p.a.
3. What order and decree? Suit is decreed.
REASONS
AS TO POINT NOs.1 and 2:
5. All these points are interlinked with each other, hence they
are taken together for consideration. The plaintiff in support of its claim
has examined Ms. Sayali (PW1) at Exh.7. She deposes in support of the
suit claim. The loan application dated 26/03/2018 at Exh.10 alongwith
letter of sanction at Exh.11 show that the defendant had applied to the
plaintiff for sanction of loan of Rs.7,93,000/. The plaintiff bank has
sanctioned said loan of Rs.7,93,000/ with rate of interest @ 11.55%
p.a. Accordingly, the defendant has executed demand promissory note
at Exh.12, undertaking cum declaration at (Exh.14) in favour of the
plaintiff. All these documents read alongwith the oral evidence of Ms.
Sayali (PW1) prove that the defendant has obtained loan of
Rs.7,93,000/ from the plaintiff with rate of interest @ 11.55% p.a.
6. The letter dated 17/05/2019, at Exh.15 was issued by the
plaintiff calling upon the defendant to make payment of the outstanding
amount of the loan. Inspite of receipt of this notice the defendant has
failed to comply with the same. The statement of loan account at
Exh.17 shows that on 31/12/2018, amount of Rs.7,40,712/was due
and payable from the defendant. The particulars of claim shows that by
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4 Comm.SU No.4622020
calculated interest alongwith penal interest amount of Rs.9,06,647.36ps
was due and payable by the defendant to the plaintiff on the date of the
filing of the suit. The defendant has failed to pay said outstanding
amount to the plaintiff. As per the terms of the contract the plaintiff is
entitled to charge interest at the rate of 11.55% p.a. Hence, the plaintiff
is entitled to recover amount of Rs.9,06,647.36ps at the rate of 11.55%
p.a. from the date of the filing of the suit till realization. I answer point
Nos.1 to 2 accordingly.
AS TO POINT NO.3:
7. In view of my findings to point Nos.1 and 2, the suit is
liable to be decreed with costs. In the result, in answer to point No.3, I
pass the following order.
ORDER
1. Suit is decreed with costs.
2. The defendant do pay to the plaintiff an amount of
Rs.9,06,647.36ps. (Rupees Nine Lakh Six Thousand
Six Hundred Forty Seven and Thirty six paise only)
alongwith interest @ 11.55% p.a. from the date of
filing of suit till its realisation.
3. Decree be drawn up accordingly.
(Rajesh A.Sasne)
Judge,
City Civil & Sessions Court,
Date : 03.02.2022 Mumbai.
Dictated on : 03/02/2022
Typed on : 04/02/2022
Signed by HHJ on : 04/02/2022
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5 Comm.SU No.4622020
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
05.02.2022 at 01.00 pm
UPLOAD DATE AND TIME
(Mr. S. V. Ambekar)
NAME OF STENOGRAPHER
Name of the Judge HHJ SHRI RAJESH A.SASNE
(COURT ROOM NO.32)
Date of pronouncement of
judgment/order
03/02/2022
Judgment/order signed by P.O. on 04/02/2022
Judgment/order uploaded on 05/02/2022
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