Order 1

Order Details: Copy of Judgment
Pdf Text: Sum. Suit No. 762 of 2019
Presented On :05.05.2019
Registered On:05.05.2019
Delivered On :13.01.2019
Duration :0Y.08M.07D.
IN THE BOMBAY CITY CIVIL COURT AT GREATER BOMBAY
SUMMARY SUIT NO.762 OF 2019
(CNR NO. MH CC010062472018)
Exhibit 12
Swati Sahebrao Gadge.
Age.:30 years, Occ.: Business,
Address: Room No.11, Stany Welfare Housing
Society, Wadia Estate, Kurla (West),
Mumbai – 400 070. ….Plaintiff
..Versus..
Sumit Yashwant Kasare.
Age.: Not known, Occ.: Service,
Address.: Juna Reti Bunder,
Dr. Ambedkar Nagar, Chembur,
Mumbai – 400 089. ...Defendant.
SUIT FOR RECOVERY OF Rs.7,62,356.16ps.
Appearance:
Mr.Ramesh Jain, Advocate for the Plaintiff.
Exparte against Defendant.
CORAM : HER HONOUR JUDGE
SABIHA. G. SHAIKH
Adhoc Judge
City Civil Court,
Gr. Bombay
(C.R.NO.59)
DATE : 13 th January,2020
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: J U D G M E N T :
1. This is a summary suit under order XXXVII of Code of Civil Procedure
1908.
2. The facts of the suit are summarized as under :
The plaintiff is carrying on business of money lending in Mumbai.
The plaintiff has advanced to the defendant the sum of Rs.5,00,000/ on
02nd June, 2015 in cash with interest at the rate of 18% p.a. for which the
defendant had executed Demand Promissory note in favour of the
Plaintiff. The defendant had promised to pay to the plaintiff the said sum
of Rs.5,00,000/ with interest thereon, at the rate of 18% per annum on
demand. But, the defendant failed to pay to the plaintiff inspite of
demands, reminders and receipt of the legal notice dated 02nd May, 2019.
Hence, plaintiff is constrained to file the suit for recovery of the said
amount. The total suit claim of the plaintiff for Rs.7,62,356.16ps.
3. The suit summons were duly served on the defendant but
he failed to appear. Hence, suit is posted for judgment as per order
XXXVII Rule 2 (3) of Code of Civil Procedure 1908.
4. The following points arise for my determination and my
findings there on are as under for the reasons stated there under :
POINTS FINDINGS
1 What is due and payable from the
defendant to the plaintiff ?
A] If yes, what would be the rate of
interest?
Amount of
Rs.7,62,356.16Ps.
at the rate of 18 % per
annum.
2 What order and decree? As per final order.
R E A S O N S
5. In order to prove the case of the plaintiff filed following
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documentary evidence.
Exhibit.
No.
Description of
documents
Date
Exhibit7 Promissory Note of
Rs.5,00,000/
02/06/2015
Exhibit8 Plaintiff's advocate letter
along with postal
acknowledgment
02/05/2018
Exhibit9 Money Lending License 20/08/2016
Exhibit10 Forms No. 8 02/06/2015
Exhibit11 Books of account. 02/06/2015
AS TO POINT NO.1 :
6. All the documents produced by the plaintiff at Exhibit7, 8, 9, 10
and 11 goes to establish that plaintiff has given amount of Rs.5,00,000/
to the defendant as loan. The documents further prove that the amount of
Rs.5,00,000/ is due and payable to the plaintiff from defendant towards
the loan amount. The defendant has failed to repay the said loan amount
to the plaintiff. The documents at list Exhibits 7 to 11 goes to establish
that the defendant is liable to pay Rs.7,62,356.16 ps. to the plaintiff on
the date of filing of the suit towards the said loan amount and therefore
the defendant has failed to repay his loan amount to the plaintiff. In this
background, it is held that plaintiff is entitled to recover sum of
Rs.7,62,356.16 ps. from the defendant.
7. The plaintiff has claimed 18% per annum on the principle amount.
As per section 34 of the Code of Civil Procedure the rate of interest may
exceeds 6% per annum, if the transaction is commercial and there is no
contract pertaining to the same between the parties. In the present case
the transaction is commercial one and there is such contract existing
between the parties as to the rate of interest which shall be levied.
Therefore, the transaction is a simple hand loan transaction and rate of
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interest @ 18% per annum would be just and proper to be awarded on
the principle sum adjudged i.e. amount of Rs.7,62,356.16ps .Hence,
point No.1 is answered in the affirmative.
AS TO POINT NO.2:
8. In view of discussion and finding on point No.1 it is held
that plaintiff is entitled to recover Rs.7,62,356.16 ps. from the defendant
with interest at the rate of Rs.18% per annum from the date of filing of
the suit till its realization. Plaintiff is also entitled to recover cost of the
suit from defendants. Hence, in answered to point No.2, I proceed to pass
the following order.
: O R D E R :
1. The defendant shall pay Rs.7,62,356.16ps. (Rupees Seven
Lac Sixty Two Thousand Three Hundred Fifty Six and
Sixteen paisa only) to the plaintiff with interest at the rate
of 18% per annum from the date of filing of the suit till its
realization.
2. Defendant do pay costs of the suit to the plaintiff.
3. Decree be drawn accordingly.
4. Court fee, if any, be refunded as per rule.
Date:13.01.2020 (Ms. S. G. Shaikh)
AdHoc Judge,
City & Civil Court,
Gr. Bombay
Typed on : 13.01.2020
Signed on :
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED ORDER.”
UPLOAD DATE TIME STENOGRAPHER NAME
18.01.2020 05.45 p.m. Mrs. P.R.Wagh
Name of the Judge H.H.J. Sabiha.G.Shaikh.
Adhoc Judge.
(Court Room No.59)
Date of pronouncement of Order 13.01.2020
Order signed by P.O. on 13.01.2020
Order uploaded on 18.01.2020
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