Final Order 1

Order Details: Copy of Judgment
Pdf Text: : 1 : Suit No.1017 of 2018
CNR No. MHCC010035822018
Lodged on : 13.03.2018
Registered on : 07.04.2018
Decided on : 26.11.2018
Duration : 00 Y 08 M 15 D
Exhibit –19
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
S.C. SUIT NO. 1017 OF 2018
Bank of India,
A Body Corporate Constituted
under the Banking Companies
(Acquisition and Transfer of Undertakings)
Act, V of 1970, having their Head Office at
Star House, Plot No. C5, “G”Block,
Bandra Kurla Complex, Bandra (East),
Mumbai 400051, and having its
one of the Branches amongst others
places at Ballard Estate Branch,
Darabshaw Housem Narrotam
Moorarji Desai Marg, Mumbai 400 001
through Constituted Attorney
Shri Harikumar S, Senior Manager
Zonal Office, Mumbai Age 43. .. Plaintiff
Versus
1. M/s. Grace Tours & Travels
Prop. Rahul Poonja Shelke
Room No. 57, kalewadi,
Barkat Ali Dargah Road,
Korba Mitha Nagar,
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Wadala (East), Mumbai – 400 037.
2. Shri Rahul Poonja Shelke
Adult, Room No. 57, kalewadi,
Barkat Ali Dargah Road,
Korba Mitha Nagar,
Wadala (East), Mumbai – 400 037. .. Defendants
Appearance :
Ld. Advocate Kamble for plaintiff.
None for defendants.
CORAM : HIS HONOUR JUDGE
SHRI ANAND L. YAWALKAR
(COURT ROOM NO. 31)
DATED : 26.11.2018
Claim : Suit for recovery
: JUDGMENT :
1. Plaintiff filed the suit for recovery of Rs.4,81,750/ with
interest @ 13.05% p.a. alongwith penal interest.
2. Case of plaintiff in brief :
Plaintiff is a body corporate Constituted under the Banking
Companies (Acquisition and Transfer of Undertakings) Act, V of 1970.
Defendant no. 1 is a sole proprietary concern of defendant no. 2.
Defendants requested the plaintiff bank to provide financial assistance
for purchasing Maruti Ertiga VDI car. On request of the defendants
plaintiff granted term loan for Rs. 6,00,000/ on 28.06.2014. The
defendants executed all the necessary documents in favour of plaintiff.
Defendants failed and neglected to repay the loan amount. As per
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the contention of the plaintiff bank suit is within limitation. Hence,
plaintiff filed suit for recovery of amount.
3. Inspite of summons, defendants failed to appear. Suit
proceeded exparte against defendant.
4. On aforesaid facts and circumstances, following points arise
for my determination. I have recorded my findings to them together
with reasons as under.
POINTS FOR DETERMINATION FINDINGS
1. Whether plaintiff bank proves that
an amount of Rs.4,81,750/ is due
and payable by defendants? In the affirmative
2. Whether plaintiff bank is entitled
for recovery of Rs. 4,81,750/ with
interest @ 13.05% p.a. along with
penal interest as prayed ?
In the affirmative
3. What order and decree ? Suit is decreed as per final
order
: REASONS :
As to Point Nos.1 to 3 :
5. In support of its contention, plaintiff bank filed an affidavit of
Officer Sheetal Ghag as PW 1 below Exh. 6. Plaintiff bank relied loan
application Exh. 8, sanction letter dated 28.06.2014 Exh. 9, Demand
Promissory note dated 25.07.2014 Exh. 10, Hypothecation agreement
dated 25.07.2014 Exh. 11, copy of certificate of registration Vehicle No.
MH01BT1173 Exh. 12, acknowledgement debt dated 19.06.2017 Exh.
13, copt of legal notice dated 16.09.2017 Exh. 14, India post tracking
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report with receipts Exh. 15, AD card Exh. 16, statement of account
Exh. 17 and particulars of claim Exh. 18.
6. Plaintiff bank filed on record loan application letter at Exh.8
and sanction letter at Exh. 9. According to it defendant applied for
loan of Rs. 6,00,000/ and loan was sanctioned for the same amount
with interest. The loan amount was to be repaid in 60 EMI of Rs.
13,278/. Demand promissory, Hypothecation document, certificate of
registration, acknowledgement of debt, India post tracking report,
advocate notice and statement of account are also on record. Legal
notice issued by the plaintiff. Defendants did not reply to the demand
notice and also failed to pay the amount.
7. Plaintiff bank had all the documents executed in their favour.
It is nationalized bank. There cannot be any doubt about the claim of
plaintiff bank considering the oral and documentary evidence. Due to
the absence of the defendants the pleadings and evidence filed on
record by plaintiff goes unchallenged. Further, the loan was sanctioned
on 28.06.2014. debt was acknowledgement by the defendant on
19.06.2017. Legal notice was sent to defendants on 16.09.2017. The
suit is filed on 13.03.2018. Thus, the suit is within limitation. Hence,
considering this plaintiff bank is entitled to recover the loan amount.
Plaintiff had claimed the rate of interest at @ 13.05% p.a. along with
penal interest. The interest prayed is accordingly granted. Hence,
considering this I answer point no. 1 and 2 in the affirmative and
accordingly, pass the following order.
: ORDER :
1. Suit is decreed.
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2. Defendants no. 1 and 2 shall jointly and severally pay
Rs. 4,81,750/ to plaintiff within 3 months from the date
of suit with interest @ 13.05% p.a. on principal amount
till its actual realization.
3. In the given circumstances, defendants to pay the cost to
plaintiff.
4. Defendant or any person claiming through him are
restrained by an order of injunction from alienating or
creating third party interest in the Hypothecated Maruti
Ertiga VDI, Registration No. MH01BT1173 till the
recovery of entire decreetal amount.
5. Plaintiff bank is entitled to take physical possession of
Hypothecated vehicle Maruti Ertiga VDI, Registration No.
MH01BT1173 and to sale the said vehicle for realization
of the loan amount.
6. Decree be drawn up accordingly.
Anand.L.Yawalkar
Judge,
City Civil & Sessions Court,
Date: 26.11.2018 Gr. Mumbai
Dictated on : 26.11.2018
Transcribed on : 26.11.2018
Signed on : 26.11.2018
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER.”
On 27.11.2018 at 3.44 p.m.
UPLOAD DATE AND TIME Mrs. P.R.Vengurlekar
NAME OF STENOGRAPHER
Name of the Judge
(With Court Room No.)
H.H.J. Anand.L.Yawalkar
C.R.No.31
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Date of Pronouncement of
JUDGMENT/ORDER
26.11.2018
JUDGMENT/ORDER signed by P.O. on 26.11.2018
JUDGMENT/ORDER uploaded on 27.11.2018
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