Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1
Lodged on : 31/03/2018
Registered on : 21/06/2018
Decided on: 17/02/2020
Duration : 01:Y 07:M 27:D
IN THE BOMBAY CITY CIVIL COURT AT GREATER BOMBAY
COMMERCIAL SUIT NO.227 OF 2020
SHORT CAUSE SUIT NO.1543 OF 2018
(CNR NO.MHCC01-004264-2018)
Bank of India, a body corporate, )
Constituted under the Banking Companies )
(Acquisition and Transfer of Undertakings )
Act-1970, having their Head Office at Star )
House, Plot No.C/5, ‘G’ Block, Bandra Kurla )
Complex, Bandra(E), Mumbai-400 051, and )
one of its Branch Office amongst others known )
as Gandhi Market Branch situated at )
Plot No.18-19/290-A, Anand Nagar, Flank Road, )
Mumbai-400 037, through its Power of Attorney )
Holder Mr.Harikumar S.,Senior Manager (Law) )
of the plaintiff )...Plaintiff.
Versus
M/s. Om Sai Travels )
A Proprietorship Concern having address )
at Room No.B/11, Sai Krupa Building, )
Navghar Phatak Road, Goddev Naka, )
Bhayander(East), Thane-401 105. )
Mr.Satish Kumar Tiwari )
Proprietor of M/s. Om Sai Travels )
Adult, Indian Inhabitant having address at )
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Room No.B/11, Sai Krupa Building, )
Navghar Phatak Road, Goddev Naka, )
Bhayander(East), Thane-401 105. )...Defendants.
Appearance:-
Ld.Advocate Mr. Shinde for plaintiff.
Defendants absent.
CORAM: HIS HONOUR JUDGE
SHRI R.V.KOKARE
DATE :17/02/2020 (C.R.No.31)
JUDGMENT
This is a suit filed by the plaintiff Bank for recovery of amount
of Rs.6,29,367.36 ( Rupees Six Lakhs Twenty Nine Thousand Three
Hundred Sixty Seven and Thirty Six Paise Only) from the defendants.
Brief facts of the plaintiffs case are as under:-
2. The defendants applied to the plaintiff for loan of Rs.6,63,000/-
( Rupees Six Lakhs Sixty Three Thousand Only) for purchase of Four
Wheeler (Car) Fiat Linea under SRTO Loan Scheme. The plaintiff bank
sanctioned and granted loan of Rs.6,63,000/- to the defendants on the
terms and conditions mentioned in the letter of Sanction and loan of
security documents. The defendants accepted the terms and conditions
in the said letter of sanctioned letter dated 08/09/2015. The defendants
executed various documents in respect of the loan transaction in
favour of the plaintiff bank which are mentioned in para no.4 of plaint.
The plaintiff bank had requested the defendants to pay the outstanding
amount under the said loan on various dates. The defendants failed to
pay accrued interest and equated monthly installments in the loan
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account which resulted in the account classified as Non Performing
Asset(NPA) on 31.03.2017.
3. The plaintiff bank has further submitted that the plaintiff has
maintained account in respect of said SRTO Loan in its usual course of
business and as per Statement of Accounts a sum of Rs.6,29,367.36 is
due and payable by the defendants to the plaintiff under the said loan
with interest at the rate of 2.50% p.a. above base rate and present base
rate is 9.45%p.a.( i.e. presently 11.95% p.a.) with monthly rest as on
date of filing of the suit. Hence, the plaintiff bank filed the present suit.
4. Suit summons is duly served on the defendants. Despite of service
of summons, the defendants failed to appear before the Court.
Therefore, on 14/10/2019, exparte order passed against the
defendants.
5. Heard Ld.advocate Mr. Shinde for the plaintiffs bank. In view of
the pleadings of the plaintiffs, following points arise for my
determination. I have recorded, my findings alongwith reasons are as
follows.
Sr.Nos. Points Findings
1 Whether the plaintiff bank prove that
plaintiff bank had sanctioned loan of
Rs.6,63,000/- to the defendants.
-yes-
2 Whether plaintiff bank is entitled to
recover total amount of Rs.6,29,367.36
together with further interest thereon @
11.95% p.a. with monthly rest plus 2%
penal interest from the defendants ?
Yes. Plaintiff bank
is entitled to
recover
Rs.6,29,367.36
together with
further interest
thereon @ 11.95%
p.a. only.
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3 What order and decree ? As per final order
6. In order to prove case of the plaintiff bank, the plaintiff bank has
examined Dilip Bholaji Umredkar, Senior Manager of the plaintiffs as
P.W.1 by way of evidence affidavit at Exhibit-9. The plaintiff bank has
produced documentary evidence under list of documents at Exhibit 10.
The plaintiff oral as well as documentary evidence gone unchallenged.
As to point nos. 1 and 2:-
7. On scrutiny of the testimony of the P.W.1-Dilip Bholaji Umredkar,
at Exhibit-9, it appears that the evidence affidavit of the P.W.1 is nothing
but it is reproduction of the contents of the plaint. In the evidence of
P.W.1, he has stated that the defendants applied to the plaintiff for loan
of Rs.6,63,000/- ( Rupees Six Lakhs Sixty Three Thousand Only) for
purchase of Four Wheeler (Car) Fiat Linea under SRTO Loan Scheme.
The plaintiff bank sanctioned and granted loan of Rs.6,63,000/- to the
defendants on the terms and conditions mentioned in the letter of
Sanction and loan of security documents. The defendants accepted the
terms and conditions in the said letter of sanctioned letter dated
08/09/2015. The defendants executed various documents in respect of
the loan transaction in favour of the plaintiff bank which are
mentioned in para no.4 of plaint. The plaintiff bank had requested the
defendants to pay the outstanding amount under the said loan on
various dates. The defendants failed to pay accrued interest and
equated monthly installments in the loan account which resulted in the
account classified as Non Performing Asset(NPA) on 31.03.2017. The
plaintiff bank has further submitted that the plaintiff has maintained
account in respect of said SRTO Loan in its usual course of business
and as per Statement of Accounts a sum of Rs.6,29,367.36 is due and
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payable by the defendants to the plaintiff under the said loan with
interest at the rate of 2.50% p.a. above base rate and present base rate
is 9.45%p.a.( i.e. presently 11.95% p.a.) with monthly rest as on date
of filing of the suit.
8. Inspite of oral evidence of the plaintiff bank, the plaintiff bank
has produced documentary evidence under list of documents at Exhibit
10. They are as Letter of Authority dated 21/01/2020 at Exhibit-11,
Letter of Sanction dated 08/09/2015 at Exhibit-12, Demand Promissory
Note for Rs.6.65 Lacs dated 08/09/2015 at Exhibit-13, Bearer Letter
dated 08/09/2015 at Exhibit-14, Loan-Installment Letter dated
08/09/2015 at Exhibit-15, Hypothecation cum Loan Agreement dated
08/09/2015 at Exhibit-16, Composite Agreement dated 08/09/2015 at
Exhibit-17, Certificate of Registration dated 02/12/2015 at Exhibit-18,
Plaintiff Advocate’s Legal Notice dated 11/10/2017 alongwith
Acknowledgment cards at Exhibit-19 and Statement of Accounts along
with certificates at Exhibit-20.
9. It is pertinent to note that oral as well as documentary evidence
of the plaintiff bank has gone unchallenged. Therefore, I am of the
opinion that the plaintiff bank has proved that they had sanctioned
loan of Rs.6,63,000/- ( Rupees Six Lakhs Sixty Three Thousand Only)
with further interest thereon @ 11.95% p.a. from the date of filing of
the suit till the date of payment or realization from the defendants.
Therefore, I have answered point nos.1 and 2 in affirmative. Hence, I
proceed to pass following order.
ORDER
1. The suit of the plaintiff is hereby decreed with costs.
2. The defendants shall jointly and severally pay total amount of
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Rs.6,29,367.36 ( Rupees Six Lakhs Twenty Nine Thousand Three
Hundred Sixty Seven and Paise Thirty Six only) together with further
interest thereon @ 11.95% p.a. from the date of filing of the suit till its
realization.
3. Decree be drawn up accordingly.
Date : 17/02/2020
(R.V.Kokare)
Judge,
City Civil Court, Gr. Bombay.
Dictated on :17 /02/2020
Transcribed on: 18/02/2020
Signed by HHJ: 24/02/2020
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CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGEMENT/ORDER”
UPLOAD DATE TIME NAME OF STENOGRAPHER
24/02/2020 5.00p.m. Mrs. V.V.Malgaonkar
Name of the Judge HHJ Shri R.V.Kokare(CR
No.31)
Date of Pronouncement of
Judgment/Order
17/02/2020
Judgment/order signed by P.O on 24/02/2020
Judgment/order uploaded on 24/02/2020
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