Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 300/2020. 1 Ex-parte Judgment.
MHCC010043352018
Presented on : 02-04-2018
Registered on : 18-06-2018
Decided on : 05-01-2021
Duration : 2 years, 9 months, 3 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 300 OF 2020
Exh.16.
Bank of India, a body Corporate,
Constituted under the Banking Companies
(Acquisition and Transfer of Undertakings)
Act1970, having their Head Office at Star
House, Plot No. C/5, ‘G’ Block, Bandra Kurla
Complex, Bandra (E) Mumbai – 400051 and
one of its Branch Office amongst others known
as Gandhi Market Branch situated at
Plot No.1819/290A, Anand Nagar, Flank Road,
Mumbai – 400 037, through its Power of Attorney
Holder Mr. Harikumar S., age : 43 yrs.,
Senior Manager (Law) of the Plaintiff ...Plaintiff
Versus
1. M/s. Soham Tours And Travels
A Proprietorship Concern having address
at House No.01, Modern Zopadpatti,
Reti Bunder, Near Modern Company,
Gate No.1, Ghodbunder, Mira Bhayander
Road, Mira Road (East), Thane – 401 107
2. Mr. Parmeshwar Kisan Waghmare
Proprietor of M/s. Soham Tours & Travels
Adult, Indian Inhabitant having address at
House No.01, Modern Zopadpatti,
Reti Bunder, Near Modern Company,
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Comm.Suit No. 300/2020. 2 Ex-parte Judgment.
Gate No.1, Ghodbunder, Mira Bhayander
Road, Mira Road (East), Thane – 401 107 ...Defendants
CORAM : SHRI G.G.BHANSALI.
(C.R.NO.31).
DATE : 5th JANUARY, 2021.
Mr. Prashant Shinde, Advocate for Plaintiff.
None for Defendant Nos.1 and 2. (Exparte).
EXPARTE JUDGMENT
This is a suit for recovery of loan in total of Rs.6,95,624/
(Rupees Six Lakhs Ninetyfive Thousand Six Hundred Twentyfour
Only) with further interest @ 13.95% p.a.
2. Plaintiff is a banking institute. At the request of defendants
no.1 and 2, plaintiff bank has sanctioned a car loan of Rs.6.50 Lakhs. It
was agreed to repay the loan in 60 E.M.I. of Rs.14,607/ (Rupees
Fourteen Thousand Six Hundred Seven Only).
3. In view of application submitted by the defendant no.2,
proprietor of defendant no.1, plaintiff bank has sanctioned the loan of
Rs.6.50 Lakhs on 31/07/2015. Defendant has executed Demand
Promissory Note, hypothecation agreement, composite agreement in
support to the loan application. Defendant has purchased a car namely
Chevrolet Enjoy bearing registration no. MH04GD4787. Accordingly,
hypothecation charge is mentioned on R.C.book. However, defendant is
failed to repay the loan as agreed. Therefore, plaintiff has issued a
notice through advocate on 11/10/2017. Despite repeated oral request
and notice in writing, defendants are failed to repay the amount.
Hence, this suit.
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Comm.Suit No. 300/2020. 3 Ex-parte Judgment.
4. In view of detail order in roznama dated 22/03/2019 and
service affidavit vide Exh.2 and 3, defendants are failed to appear
despite due service of summons. Hence, suit is proceeded exparte
against both defendants.
5. In support to plaint, PW 1 Dilip Umredkar deposed on oath
vide Exh.4. In view of statement of PW 1, various documents vide
Exh.5 are marked as Exh.6 to 14. Defendant no.2 has executed the
Demand Promissory Note vide Exh.8 on 31/07/2015. Perused
hypothecationcumloan agreement vide Exh.11 dated 31/07/2015.
Plaintiff has issued a legal notice vide Exh.13 on 11/10/2017. Plaintiff
bank has maintained a bank account as per statement vide Exh.14.
6. Despite due service of summons, defendants are failed to
appear. It infers that both defendants admit the suit claim. On perusal
of account extract, there are entries of part payment. However,
defendants are failed to repay loan as agreed. Resultantly, suit deserves
to be decreed.
7. However, interest at the rate of 13.95% p.a. appears to be
exorbitant. Considering entire facts, interest at the rate of 12% p.a.
seems reasonable. Hence, the order :
ORDER
1. Suit is partly decreed with cost.
2. Defendants no.1 and 2 shall pay jointly and severally an
amount of Rs.6,95,624/ (Rupees Six Lakhs Ninetyfive
Thousand Six Hundred Twentyfour Only) with further
interest @ 12% p.a. from the date of suit till realization,
within two months from the date of decree.
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Comm.Suit No. 300/2020. 4 Ex-parte Judgment.
3. Decree shall be drawn accordingly.
(G.G.BHANSALI)
Judge,
City Civil & Sessions Court,
Date : 05/01/2021. Mumbai.
1. Dictated on : 05/01/2021.
2. Transcribed on : 11/01/2021.
3. Signed on : 19/01/2021.
4. Delivered to Certified :
Copy Section on
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
20/01/2021. 2.04 p.m. Miss M.A.Kulkarni
Name of the Judge (with Court Room no.) HHJ Shri G.G.Bhansali.
(Court Room No.31).
Date of Pronouncement of Judgment/Order 05/01/2021.
Judgment/Order signed by P.O. on 19/01/2021.
Judgment/Order uploaded on 20/01/2021.
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