Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: COMMERCIAL SUIT NO. 181/19 1
Received on : 04-06-2019
Registered on : 07-11-2019
Decided on : 17-02-2020
Duration : 00Y 08M 14D
IN THE CITY CIVIL COURT AT MUMBAI
COMMERCIAL SUIT NO. 181 of 2019
( CNR NO.: MHCC01-005539-2019)
Dena Bank a body corporate constituted
Under the Banking Companies (Acquisition
& Transfer of Undertakings) Act, 1970,
having its Head Office at Corporate Center,
C-10, G-Block, Bandra Kurla Complex
Bandra(E), Mumbai 400 051 and its Branch
office at Mazgaon Branch, Prabhat, Ground
floor, Nesbit Road, Mumbai 400010 through
its Senior Manager Shri.Vishal Mehta.
Bank of Baroda, a body corporate
constituted Under the Banking Companies
(Acquisition & Transfer of Undertakings
Act, 1970,having its Head Office at
Baroda Bhavan, R.C.Dutt Road,
Alkapuri, BARODA- 390007,(Gujarat),
and corporate Office at Baroda Corporate
Center, G-Block, Bandra Kurla Complex,
Bandra(E), Mumbai-400 051, its
Branch office at Mazgaon Branch,
Prabhat, Ground floor, Nesbit Road,
Mumbai 400010. ...Plaintiff
Versus
Mr. Girdharilal Ramdev Sharma,
Age: Adult,
Residing at Room No.25, Kama
Naja Chawl, Dhannji Wadi,
Malad(East), Mumbai-400 097. ….Defendant
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COMMERCIAL SUIT NO. 181/19 2
Appearances:-
Advocate Ms.Karuna Adangale with M/s.K.D.Shukla & Co. for the
plaintiff.
Defendant Ex-parte.
CORAM : HIS HONOUR JUDGE
DEEPAK L. BHAGWAT
(C.R.NO.28)
DATE : 17th February, 2020
J U D G M E N T
1. This is Commercial Suit for recovery of Rs.3,32,491/-(Rupees
Three Lakhs Thirty Two Thousand Four Hundred and Ninety One Only)
with interest at the rate of 10.35% p.a. from the date of the suit till
realization of amount.
2. The suit was initially filed on behalf of Dena Bank which has been
merged into The Bank of Baroda during pendency of the suit. Therefore,
the suit has been continued by the Bank of Baroda by carrying out
amendment in the plaint.
3. According to the plaintiff, it is a Banking Company. On the
request of the defendant, the plaintiff sanctioned loan of Rs.3,86,000/-
in December 2016 in favour of the defendant. The plaintiff disbursed
the loan amount of Rs.3,86,000/- in favour of the defendant. The
Defendant executed relevant documents as Demand promissory Note,
Agreement of hypothecation, Letter of general lien, Letter of continuity
dtd.02-12-2016. The defendant had agreed to repay the loan amount in
equated monthly installments with interest @ 10.35% p.a. According to
the plaintiff, the defendant failed and neglected to pay the monthly
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COMMERCIAL SUIT NO. 181/19 3
installments regularly. Vide legal notice dated 15-02-2019, the plaintiff
called upon the defendant to pay then due amount. However, the
defendant did not comply with it. At the institution of the suit, the
defendant was liable to pay Rs.3,32,491/-. Therefore, the plaintiff
claimed decree for recovery of said amount with interest.
4. Despite service of summons the defendant failed to appear.
Therefore, suit proceeded Ex-parte against the defendant.
5. Considering the material on record and submissions made on
behalf of the plaintiff points arise for determination along with my
findings thereon for the reasons recorded are as under:-
POINTS FINDINGS
1. Whether the plaintiff is entitled
to recovery of amount as prayed?
Yes
2. At what pendente lite and
future interest ?
At the rate of 10% p.a.
3. What order and decree? As per final order
REASONS
AS TO POINTS NO.1 to 3
6. The plaintiff examined its manager P.W.1 Vishal at Exh.6. His
testimony speaks that on the request of defendant loan of Rs.3,86,000/-
was disbursed in his favour by the plaintiff. However, the defendant
failed to repay the loan amount by regular monthly installments.
According to him, at the institution of the suit, amount of Rs.3,32,491/-
was due and payable by the defendant.
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COMMERCIAL SUIT NO. 181/19 4
7. His testimony is corroborated by the documents on record as the
Sanction letter, demand promissory note, Agreement of hypothecation,
Letter of general lien, Letter of continuity dtd.02-12-2016 which reveal
that the plaintiff had given the defendant loan of Rs.3,86,000/- and
that the defendant agreed to repay the loan of Rs.3,86,000/- in equated
monthly installments with interest @10.35% p.a.. The statement of
account reveals that the loan was disbursed by the plaintiff in favour of
the defendant. Thus, it is clear that the plaintiff had paid loan amount
of Rs.3,86,000/- to defendant with interest @ 10.35% p.a., but the
defendant failed to repay the loan. On the date of filing of the suit, the
amount outstanding, due and payable by the defendant was
Rs.3,32,491/-. In these circumstances, the plaintiff is entitled to recover
the amount of Rs.3,32,491/-. It appears that the loan was granted to
the defendant for purchasing vehicle to carry out business of renting the
vehicle. Considering these circumstances, it is just and proper to grant
the interest at simple rate of 10% p.a. from the date of suit till
realization of amount. Hence, point No.1 is answered in the affirmative
and point No.2 is answered as that the plaintiff is entitled to the
interest @ 10% p.a. from the date of suit till realization of the amount.
In view of Para-499 of Civil Manual court fees has to be refunded to the
plaintiff. In answer to point No.3 order as follows is passed.
ORDER
1. The suit is decreed with costs as under:-
2. The Defendant shall pay to the plaintiff amount of Rs.3,32,491/-
(Rupees Three Lakhs Thirty Two Thousand Four Hundred and Ninety
One Only) with simple interest @ 10% p.a. on the principal amount of
Rs.3,86,000/- from the date of suit till realization of the amount.
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COMMERCIAL SUIT NO. 181/19 5
3. Court fees be refunded to the plaintiff as per rules.
4. Decree be drawn up accordingly.
(Deepak L. Bhagwat)
Ad-Hoc Judge,
Date:17/02/2020 City Civil Court,Gr. Mumbai
Dictated on : 17/02/2020
Signed on : 18/02/2020
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT/ORDER.”
20/02/2020 at 12.00p.m. Mrs.J.V.Pawar
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (With Court Room No.) HHJ Shri.D.L.Bhagwat
(C.R.NO.28)
Date of pronouncement of Judgment/Order 17/02/2020
Judgment/Order signed by P.O. on 18/02/2020
Judgment/Order uploaded on 20/02/2020
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