Order 1

Order Details: Copy of Judgment
Pdf Text: Judgment in
Suit No.1541of 2021 1
MHCC010061842018
Presented on : 05-05-2018
Registered on : 16-07-2018
Decided on : 18-07-2023
Duration : 5 Yr, 2 M, 13 D.
IN THE CITY CIVIL COURT FOR GR. BOMBAY AT MUMBAI
SHORT CAUSE SUIT NO.1541 OF 2021.
Exh. 11.
Bank of India, a Bank, a body Corporate ]
Constituted under the Banking Companies, ]
(Acquisition and Transfer of Undertaking) Act ]
V of 1970, having their Head Office at ]
Star House, C-5, G Block, Bandra Kurla ]
Complex, Bandra (East), Mumbai 400 051. ]
and one of its Branch Office being ]
Cumballa Hill Branch, “Kemps Shoppe” ]
1st Floor, Near Hotel “Shalimar”, 141 ]
August Kranti Marg, Kemps Corner, Mumbai ]
- 400 036, though its Constituted Attorney, ]
Mr. Harikumar S., Senior Manager (Law) of the ]
Plaintiff Bank. ]....Plaintiff.
Vs.
Mr. Moahmmed Siddique Mohd. Wahid Shaikh ]
Adult, Indian Inhabitant, residing at ]
415/3, Hajrabi Chawl, Navshakti Nagar, ]
Behind Ambey Mata Mandir, Behram Baug, ]
Jogeshwari (West), Mumbai -400 102. ]...Defendant.
Appearance:
Adv. Prashant Shinde for plaintiff.
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Judgment in
Suit No.1541of 2021 2
Defendant – Exparte.
SUIT FOR RECOVERY OF MONEY
Coram : Shri. U.C.Deshmukh.
Judge.
CR No. : 59.
Date :18th July, 2023.
ORAL JUDGMENT
This is suit for recovery of an amount of Rs.2,11,912.86/-
with interest at the rate of 12.95% p.a. .
Brief facts of the case are as under :
2. The plaintiff contends that it is a Bank, body corporate,
constituted under the Banking Companies (Acquisition and Transfer of
Undertakings) Act V of 1970. The plaintiff further contends that
defendant applied for vehicle loan to purchase Maruti Omani under
SRTO Loan Scheme. Accordingly, on 02.11.2013 the plaintiff
sanctioned the loan of Rs. 3,54,000/- to purchase the vehicle at the rate
of 11.75% p.a.
3. The plaintiff further contends that the defendant has
acknowledged his loan of Rs. 2,43,522.80/ by executing deed by dated
21.04.2016. The plaintiff specifically contends that the defendant has
failed to repay the loan amount since June 2017. Hence, his loan
account is converted into Non performing Assets (In short 'NPA'). As per
the statement of loan account, the defendant is liable to pay the amount
with interest at the rate of 10.95% p.a. along with penal interest at the
rate of 2% p.a.. Hence, this Suit.
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Judgment in
Suit No.1541of 2021 3
4. Defendant is duly served with writ of summons but he
failed to appear. Therefore, the suit proceeded exparte against him as
per order dated 28.03.2022.
5. The plaintiff filed affidavit of evidence of Pradip Thutte,
Senior Manager of plaintiff’s Bank at Exh. 8 along with List of
Documents at Exh. 9 which he has proved in his evidence. The plaintiff
has filed Letter of Authority dated 04.07.2023., Letter of Sanction dated
12.11.2013, Demand of Promissory Note for Rs.3,54,000/- dated
23.11.2013, Loan Installment Letter dated 23.11.2013, Hypothecation
cum Loan Agreement dated 23.11.2023, Composite Agreement dated
23.11.2013, Photocopy of Certificate of Registration dated 21.06.2014,
Acknowledgment of debt dated 21.04.2016. Plaintiff has also filed
evidence close pursis dated 05.06.2023 vide Exh. 10.
6. Considering the facts, evidence and law applicable to the case,
following points arise for determination.:
Sr. No. POINTS FINDINGS
1.
Whether the plaintiff is
entitled to recover an amount
of Rs.2,11,912.86 at the rate
of 12.95% p.a.
....Yes....
with interest @
10.95%pa.
2.
Whether the suit is within the
limitation. ...Yes....
3. What order and decree? Suit is decreed.
:REASON:
As to point No. 1 to 2.:
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Judgment in
Suit No.1541of 2021 4
9. It is needless to say that as suit proceeded exparte, hence,
the pleading and evidence of the plaintiff has remained unchallenged.
On perusal of record, it is seen that there is an agreement in between
the plaintiff-Bank and defendant. The plaintiff has filed sanction letter,
demand promissory note, Composite agreement which show that there
is transaction in between the plaintiff and the defendant and the
defendant is due to pay an amount of Rs.1,93,520/- on 13.04.2018. The
plaintiff further argued that it has sent legal notice dated 21.02.2018.
Considering date of payment, the suit is instituted on 05.05.2018 is
within the limitation.
10. Though the plaintiff contends that the defendant is liable to
repay loan amount of Rs.2,11,912.86 with interest at the rate of 12.95%
p.a. He has not filed on record except his oral testimony to show that he
is empowered to charge penal interest on failure defendant to repay
loan amount. The statement of account revealed that on 13.04.2018,
the defendant liable to pay an amount of Rs. 1,93,520/- The suit is
instituted on 05.05.2018. The loan agreement explicit that the plaintiff
is entitled to recover the loan amount with interest at the rate of
10.95% p.a. Therefore, it has came on record that the defendant is
liable to pay an amount of loan of Rs.1,93,520/- with interest at the
rate of 10.95 % p.a. and not suit amount in the title. Resultantly, point
Nos. 1 & 2 are answered in the affirmative.
11. The suit is proceeded exparte. The suit is going to partially
decreed. In such circumstances, both parties to bear their costs of the
proceedings. Accordingly, in answer to point No. 3, following order is
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Judgment in
Suit No.1541of 2021 5
passed :
ORDER
1. Suit No. 1541 of 2021 is partly decreed.
2. Defendant is ordered to pay an amount of Rs.
1,93,520/- (Rs. One Lakh Ninety Three Thousand,
five Hundred Twenty only) with interest at the rate
of 10.95% p.a.from the date of the suit till its
realization.
3. Defendant is directed to pay an amount of decree
within two months from the date of this order to
Plaintiff.
4. Both parties to bear their own cost.
5. Decree be drawn up accordingly.
6. Suit No. 1541 of 2021 is disposed off accordingly.
(Dictated and Pronounced in Open Court. )
(U.C.Deshmukh)
Judge,
City Civil and Sessions Court
Date.:18.07.2023 Greater Bombay (CR 59).
Declared on : 18.07.2023
Dictated on : 18.07.2023
Transcribed on : 07.08.2023
Checked on : 09.08.2023
Signed on :
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
14.08.2023 at 06.00 -p.m. Mrs. P.R.Wagh
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
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Judgment in
Suit No.1541of 2021 6
Name of the Judge (with Court
Room No.)
HHJ SHRI.U.C.Deshmukh,(C.R.No.59)
Judge.,City Civil & Sessions Court,
Date of pronouncement of /Order 18.07.2023
Order signed by P.O. on 09.08.2023
order uploaded on 14.08.2023
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