Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 303/2020. 1 Ex-parte Judgment.
MHCC010043422018
Presented on : 03-04-2018
Registered on : 26-06-2018
Decided on : 05-01-2021
Duration : 2 years, 9 months, 2 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 303 OF 2020
Exh.18.
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.,
Senior Manager (Law) of the Plaintiff ...Plaintiff
Versus
1. M/s. Sunny Tours And Travels
A Proprietorship Concern having address
at 19/24, Harharwala Building,
1st floor, N.M. Joshi Marg, Delise Road,
Lower Parel, Mumbai – 400 011
2. Mr. Sunny Sanjay Jadhav
Proprietor of M/s. Sunny Tours & Travels
Adult, Indian Inhabitant having address at
19/24, Harharwala Building,
1st floor, N.M. Joshi Marg, Delise Road,
Lower Parel, Mumbai – 400 011 ...Defendants
-- 1 of 4 --
Comm.Suit No. 303/2020. 2 Ex-parte Judgment.
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.4,27,929/
(Rupees Four Lakhs Twentyseven Thousand Nine Hundred Twenty
nine Only) with further interest @ 13.95% p.a.
2. Plaintiff is a banking institute. In view of application
submitted by the defendant no.2, proprietor of defendant no.1, plaintiff
bank has sanctioned the loan of Rs.4.70 Lakhs on 29/08/2015.
Defendant has executed Demand Promissory Note, hypothecation
agreement, composite agreement in support to the loan application.
Defendant has purchased a car namely Chevrolet Beat bearing
registration no. MH01BT6634. 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.
3. In view of service affidavit vide Exh.2, defendants are failed
to appear despite due service of summons. Hence, suit is proceeded ex
parte against both defendants.
4. In support to plaint, PW 1 Amit Shankar deposed on oath
-- 2 of 4 --
Comm.Suit No. 303/2020. 3 Ex-parte Judgment.
vide Exh.3. In view of statement of PW 1, various documents vide Exh.4
are marked as Exh.5 to 15. Defendant no.2 has executed the Demand
Promissory Note vide Exh.7 on 29/08/2015. Perused hypothecation
cumloan agreement vide Exh.10 dated 29/08/2015. Plaintiff has
issued a legal notice vide Exh.13 on 11/10/2017. The
acknowledgement is at Exh.14. Plaintiff bank has maintained a bank
account as per statement vide Exh.15.
5. 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 the loan as agreed. Resultantly, suit
deserves to be decreed.
6. 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.4,27,929/ (Rupees Four Lakhs Twentyseven
Thousand Nine Hundred Twentynine Only) with further
interest @ 12% p.a. from the date of suit till realization,
within two months from the date of decree.
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.
-- 3 of 4 --
Comm.Suit No. 303/2020. 4 Ex-parte Judgment.
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. 2.05 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.
-- 4 of 4 --