Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 35/19. 1 Ex-parte Judgment (Exh.27).
MHCC010049382019
Presented on : 02-05-2019
Registered on : 21-06-2019
Decided on : 04-04-2022
Duration : 2 years, 11 months, 2 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 35 OF 2019
Exh.27.
(Syndicate) Canara Bank, a bank constituted, )
Established and functioning under )
The Banking Companies (Acquisition and )
Transfer of Undertakings) Act, 1970, )
Having its head office at (Manipal), )
112, J.C.Road, Bangalore, 560002 )
Karnataka State and amongst other )
Having branch office at Padam Building no.1, )
4/B, Pedder Road, Mumbai 400026 )
Through its Branch Manager )
Mr. Ashok Mahadeo Salvi )
Age: 56 year, Occu. Service )...Plaintiff
Versus
1. M/s. Pragati Travels )
Through its Proprietor )
Mr. S. Balasurbramaniam Mani )
Age: 46 year, Occu. Business )
Residing at D14 Room No.6 )
Matunga Labour Camp, )
Near Shanti Bar Hotel, )
Matunga, Mumbai – 400 019 )
2. Mr. S. Balasurbramaniam Mani )
Age: 46 year, Occu. Business )
Residing at D14 Room No.6 )
Matunga Labour Camp, )
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Comm.Suit No. 35/19. 2 Ex-parte Judgment (Exh.27).
Near Shanti Bar Hotel, )
Matunga, Mumbai – 400 019 )...Defendants
SUIT FOR RECOVERY OF MONEY
CORAM : HIS HONOUR JUDGE SHRI R.R.BHAGWAT.
(COURT ROOM NO.31).
DATE : 4th APRIL, 2022.
Shri Mahesh Chandanshiv, Advocate for the plaintiff.
Defendants – (Exparte).
JUDGMENT (EXPARTE)
1. This is a suit for recovery of money.
2. Case of the plaintiff, in brief, is as under :
The plaintiff is a body corporate constituted under
the Banking Companies (Acquisition & Transfer of Undertakings) Act,
1970, having its branch office at Peddar Road, Mumbai 400026.
Constituted Attorney Ashok M. Salvi filed the suit for the plaintiff bank.
Basically, the suit is filed by Constituted Attorney of Syndicate Bank.
Subsequently, Syndicate Bank is amalgamated with Canara Bank and
therefore, amendment is carried out in the plaint as per order in Draft
Chamber Summons (Exh.2) passed on 10/03/2021. Defendant no.1 is
a proprietary concern represented by proprietor defendant no.2. On an
application dated 08/10/2015 of the defendants, the plaintiff had
sanctioned term loan of Rs.5,88,000/ to the defendants for purchasing
Maruti Suzuki Dzire for commercial purposes. Accordingly, sanction
letter was issued on 08/10/2015. The defendants also executed other
documents including Deed of Hypothecation of the vehicle. Though the
loan amount was to be repaid with monthly installments of Rs.13,026/
within period of 48 months with interest at the rate of 10.95% p.a., the
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Comm.Suit No. 35/19. 3 Ex-parte Judgment (Exh.27).
defendants committed breach in repayment of the loan amount.
Account of the defendants turned NPA on 02/05/2017. The said
vehicle was sold in auction and sale proceeds were adjusted towards
recovery of loan amount. Even then, amount of Rs.3,25,074.63 was
outstanding. Therefore, legal notice was issued on 18/09/2018 calling
upon the defendants to pay outstanding amount, but the defendants
failed to make payment. Hence, the plaintiff filed the suit for recovery
of outstanding amount of Rs.3,53,325.37 as on 30/04/2019 with
further interest at the rate of 20% p.a. with monthly rests from the date
of filing of the suit till the date of realization with costs of the suit.
3. The defendants are duly served with writ of summons as
per affidavit of service filed on 16/01/2020, but they failed to appear
and oppose the claim of the plaintiff. Therefore, I passed the exparte
order against them on 27/01/2020.
4. PW 1 Kumar Ranjan, Officer of the plaintiff bank deposed
on evidence affidavit (Exh.6) and proved documents filed with list of
documents (Exh.9). Proved documents are at Exh.10 to 24. The
plaintiff closed evidence vide pursis (Exh.25). Heard learned counsel
Shri Mahesh Chandanshiv for the plaintiff.
5. After considering pleadings of the plaintiff and evidence on
record, following points arose for my determination with my findings
against them with reasons to follow :
SR.NO. POINTS FINDINGS
1. Does the plaintiff prove that he is
entitled to recover amount of
Rs.3,53,325.37 from the defendants ? If
yes, at what rate of interest ? In the Affirmative.
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Comm.Suit No. 35/19. 4 Ex-parte Judgment (Exh.27).
@ 10.95% p.a. with
monthly rest.
2. What order as to costs ? As per final order.
3. What order and decree ? Suit is decreed.
REASONS
AS TO POINTS NO.1 AND 2 :
6. PW 1 Kumar Ranjan has specifically stated that the loan
amount enumerated in the plaint was sanctioned for purchasing the
vehicle to the defendants. The said vehicle is also hypothecated as per
Exh.13. The defendants failed to make payment. The defendants
neglected to make payment of outstanding loan amount as stated in
statement of account (Exh.20). In short, claim of the plaintiff is proved
from oral as well as documentary evidence on record.
7. So far as interest rate is concerned, the plaintiff has claimed
interest at the rate of 20% p.a., but agreed rate of interest as mentioned
in sanction letter (Exh.12) is 10.95% p.a. Therefore, interest at the rate
of 10.95% p.a. can be granted. Costs of the suit is liable to be imposed
on the defendants. In the light of above discussion, I record my finding
as to point no.1 in the affirmative. Hence, I pass the following order :
ORDER
1. Commercial Suit No. 35/2019 is decreed.
2. The defendants are directed to pay amount of
Rs.3,53,325.37 (Rupees Three Lakhs Fiftythree Thousand
Three Hundred Twentyfive and Paise Thirtyseven Only)
to the plaintiff with further interest @ 10.95% p.a. with
monthly rests from the date of the suit till the date of
realization within three months from the date of decree.
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Comm.Suit No. 35/19. 5 Ex-parte Judgment (Exh.27).
3. The defendants shall jointly and severally liable to pay the
decretal amount.
4. The defendants shall bear the costs of the suit.
5. Decree be drawn up accordingly.
(R.R.BHAGWAT)
Judge, City Civil Court,
(Court Room No.31)
Date : 04/04/2022. Mumbai.
1. Dictated online on : 04/04/2022.
2. Signed on : 04/04/2022.
3. 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
04/04/2022. 5.32 p.m. Miss M.A.Kulkarni.
Name of the Judge (with Court Room no.) HHJ Shri R.R.Bhagwat.
(Court Room No.31).
Date of Pronouncement of Judgment/Order 04/04/2022.
Judgment/Order signed by P.O. on 04/04/2022.
Judgment/Order uploaded on 04/04/2022.
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