Final Order 1

Order Details: Copy of Judgment
Pdf Text: MHCC010043372018
Presented on
02.04.2018
Registered on 02.05.2018
Decided on 06/11/20
Duration Yrs. M. Days
02 07 04
CNR No. MHCC010043372018
EXH.
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
SHORT CAUSE SUIT NO.1850 OF 2019
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 (East), 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 – 400037,
through its Power of Attorney Holder Mr.
Harikumar S., Senior Manager (Law) of the
plaintiff. ...Plaintiff.
V/s.
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1. M/S. SACHIN TRAVELS
A Proprietorship Concern having address at
Ground floor, Room No.58, Kataria Marg,
Near Sai Mandir, C. RLY Colony, S.V.P. Nagar,
Matunga, Mumbai – 400 019.
2. MR. SACHIN PAWAN DAFARE
Proprietor of M/s. Sachin Travels
Adult, Indian Inhabitant having address at
Ground floor, Room No.58,
Kataria Marg, Near Sai Mandir,
C.RLY Colony, S.V.P. Nagar,
Matunga, Mumbai – 400 019. ....Defendants.
Appearances:
Ld. Adv Mr. Anant B. Shinde for plaintiff.
None present for defendants.
Suit proceeded ex-parte against defendants.
CORAM : HIS HONOUR JUDGE
SHRI SHANKAR G.BORLEPWAR
(C.R.No.20)
DATED : 6th November, 2020
J U D G M E N T
(Ex-parte)
1. This is a suit for recovery of amount of Rs.5,77,693.41 with
interest.
2. In brief, it is contention of the plaintiff that plaintiff is a
Bank. Defendant No.1 is the Proprietary concerned. Defendant No.2 is
proprietor of defendant No.1. Defendant No.1 and 2 are borrowers.
Defendants applied to the plaintiff Bank for loan of Rs.7.66 Lakhs
(Rupees Seven Lakhs Sixty Six Thousand only) to purchase four wheeler
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vehicle. Plaintiff Bank sanctioned and granted loan under SRTO Loan
Scheme of Rs.7.66 Lakhs to defendants. Defendants executed necessary
documents and agreed to pay the said loan amount with interest at the
rate of 12.45% p.a. with monthly rest. After granting loan defendants
purchase four wheeler vehicle which is registered as Registration
No.MH-01-BT-5546. Defendants hypothecated the said vehicle for the
said car loan. Defendants failed and neglected to pay the said loan
amount regularly. The Loan Account of defendants resulted as Non
Performing Asset (NPA) on 31.03.2017. Notice was issued to the
defendants to pay said loan amount with interest but defendants did
not pay the loan amount.
3. Defendant No.1 and 2 are served with writ of summons.
They did not appear. Therefore the suit is proceeded Ex-parte against
them as per Roznama /Noting dated 28.01.2019. Plaintiff examined
P.W. 1 Dilip Bholag Umeredkar and closed evidence of plaintiff. I have
heard Learned Advocate Shri Atul Gupta for plaintiff.
4. P.W.1 Dilip Bholag Umeredkar filed evidence affidavit vide
Exh.4. Following documents are marked as exhibit in the evidence of
P.W.1. They are at Exh.6 to 14.
Ex. Sr.No. Particular
6 1 Letter of authority dt.04/02/2019.
7 2 Letter of sanction dt.30/06/2015.
8 3 Demand promissory note for Rs.7.66 lacs
dt.30/06/2015.
9 4 Bearer letter dt.30/06/2015.
10 5 Loan installment letter dt.30/06/2015.
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11 6 Hypothecation cum loan agreement dt.30/06/2015.
12 7 Composite agreement dt.30/06/2015.
13 8 Plaintiff advocates legal notice dt.11/10/2017
alongwith returned envelops.
14 9 Statement of accounts alongwith certificates
5. P.W. 1 deposed as per averments of the plaint. He deposed
that Rs.7.66 Lakhs sanctioned and granted to the defendants under
SRTO Loan Scheme on 30.06.2015. Defendant agreed to pay the said
loan amount of Rs.7.66 Lakhs with interest at the rate of Rs.12.45% p.a.
with monthly rest and hypothicated the said four wheeler vehicle as
security towards the said loan amount. They agreed to repay the said
loan amount by way of sixty equal monthly installments of Rs.17,228/-
per month commencing from July, 2015. They executed documents in
favour of plaintiffs Bank. They did not repay the loan amount with
interest. Consequently the Account of defendants classified as (NPA) on
31.03.2017. Despite various request and reminders the defendants
failed and neglected to regularise the said loan account. Therefore, suit
be decreed as prayed for.
6. Perused Letter of sanctioned Exh.7. It is dated 30.06.2015.
Loan of Rs.7.66 Lakhs was sanctioned and granted to the defendants on
30.06.2015.
7. perused Demand Promissory Note. Defendants promise to
pay to the plaintiff Bank. The said amount of Rs.7.66,000/- with
interest at the rate of 2.50 % over base rate.
8. Perused Hypothication cum Loan Agreement Exh.11. It
bears signature of both defendants.
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9. Perused Composite Agreement Exh.12. It bears signature
of the defendants.
10. Perused Statement of Account. It shows that defendant
did not pay the loan amount regularly.
11. There is nothing on record to discard the testimony of
P.W.1. It appears that a sum Rs.5,77,693.41 is outstanding against the
defendants. Therefore, plaintiff is entitled to recover the said amount
from defendants with interest jointly and severally. Hence, I proceed to
pass the following order.
ORDER
The Suit No.1850 of 2019 is decreed with costs as under :
1. Defendants No. 1 and 2 jointly and severally to pay amount of
Rs.5,77,693.41/- (Five Lacs Seventy Seven Thousand Six
Hundred Ninety Three and Forty One Paise Only) to the plaintiff
bank with interest at the rate of 11.95 percent per annum with
monthly rest plus 2 percent penal interest per annum from the
date of filing of the suit i.e. from 02/04/2018 till its full
realisation.
2. Decree be drawn up accordingly.
( SHANKAR G. BORLEPWAR )
Judge, (C.R.No.20)
Dt.: 06/11/2020 City Civil Court, Gr. MUMBAI
Dictated on : 06/11/2020
Transcribed on : 08/12/2020
Checked on : 09/12/2020
and Signed on : 10/12/2020.
( SHANKAR G. BORLEPWAR )
Judge, (C.R.No.20)
City Civil Court, Gr. MUMBAI
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“CERTIFIED TOBE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
10.12.2020 at 02.35 p.m.
UPLOAD DATE AND TIME (VARSHA U. PAWAR)
NAME OF STENOGRAPHER
Name of the Judge HHJ SHRI S. G.
BORLEPWAR
(COURT ROOM NO.20)
Date of pronouncement of judgment/order 06.11.2020
Judgment/order signed by P.O. on 10.12.2020
Judgment/order uploaded on 10.11.2020
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