Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1
MHCC010063592019
Presented on : 24062019
Registered on : 26112019
Decided on : 08032021
Duration : Y01 M08D14
IN THE COURT OF SESSIONS FOR GREATER BOMBAY
COMMERCIAL SUIT NO.219 OF 2019
Canara Bank, a body corporate Constituted under ]
the Banking Companies (Acquisition & Transfer of ]
Undertakings)Act, 1970 having its Head Office at ]
112, J.c. Road, Bangalore560 002, and one of its ]
Branch office amongst others known as Naigaum Dadar]
Branch having address at Gr. Floor, Dr. D.B. Kulkarni ]
Vidyalay Lok Seva Sangh, Mahatma Jyotiba Phule Road,]
Naigaum, Dadar (East), Mumbai400014, in the State ]
of Maharashtra represented by Maneesh Kumar ]
Age: 29 years, Manager ]....Plaintiff
V/s
Mr. Sandeep Dattaji Bhosale, ]
S/O Dattaji Bhosale, ]
Age Not Known, Adult, Occ: Taxi Driver, ]
R/12 Dharma Bhatakya Chawl, Ambechi Bharni ]
Jay Shankar Nagar, Near Pipe Line, Tulshetpada, ]
Gavdevi Road, Bhandup (W), Mumbai400078 ]...Defendant
APPEARANCE:
Ld. Adv. Ms. Shraddha Agarwal for plaintiff.
None for defendant.
CORAM : HIS HONOUR ADDL.SESSIONS
JUDGE SHRI. SANJAY N. YADAV
(C.R.No.32).
DATED : 08rd March, 2021.
Claim : Suit for recovery of Money.
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EXPARTE JUDGMENT
(Dictated in Open Court)
The plaintiff by this suit seeks judgment and decree against
defendant, directing the defendant to pay to the plaintiff a sum of
Rs.4,41,108.84/ (Rupees Four Lakhs Forty One Thousand One
Hundred Eight and Paise Eighty Four only) as on 03.05.2019 with
further interest at the rate of 9.70% per annum overdue with monthly
rests plus 2% Penal Interest from the date of the filing of suit till its
realization.
2. The facts giving rise to the suit in short can be stated as
follows:
The plaintiff is a body corporate Constituted under the
Banking Companies Act,1970. The defendant had approached for Term
Loan of Rs.3,85,000/(Rupees Three Lakhs Eighty Five Thousand Only)
on or about 02.12.2015 by making an Application on Form NF 415. The
defendant had executed documents and the plaintiff had sanctioned
term loan of Rs.3,85,000/ under Canara Pragati Scheme covered under
GCTMSE scheme on 02.12.2015 under Loan Account
No.0237768000088 for purchase of Hyundai I 10 D Lite Taxi. As per the
terms of sanction of loan the defendant agreed to repay the loan in 60
installments. The defendant had executed following documents:
a) Certificate of Loan Papers obtained on Form 482 dated
02.12.2015
b) Letter Evidencing Execution of documents on Form NF 803
dated 02.12.2015.
c) Letter of Undertaking re:Loans/Advances on Form NF
721/IL(50)012014 dated 02.12.2015.
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d) Particulars of Vehicles/Machinery/Equipment/Livestock etc.,
Hypothecated on From NF373 executed by the defendant
dated 10.12.2015.
e) Deed of Hypothecation Re: Vehicle on Form NF 722/IL
(25)/201508 dated 02.12.2015 executed by defendant hereby agreed
to hypothecate the said vehicle in favour of the plaintiff.
f) Acknowledgement of Debt and Security on Form NF
760/2L(50)/122017 dated 19.05.2018 executed by defendant in
favour of the plaintiff for an amount of Rs.3,72,636/ as on 03.05.2018.
3. The plaintiff had granted and disbursed the loan of
Rs.3,85,000/ to the defendant in consideration to repay the said loan
and interest thereon on demand. The defendant had failed to repay the
amount and abide the terms and conditions stipulated in the security
documents as a result the account became highly irregular. The
plaintiff had called upon the defendant to pay the outstanding amount.
The defendant had failed to repay the amount. Therefore, the plaintiff,
had issued notice dated 16.07.2018 calling upon the defendant to repay
the amount but the defendant had failed to repay the amount.
The plaintiff accordingly had prayed for recovery of
Rs.4,41,108.84/ (Rupees Four Lakhs Forty One Thousand One
Hundred Eight and Paise Eighty Four only) as on 03.05.2019 with
further interest at the rate of 9.70% per annum overdue with monthly
rests plus 2% Penal Interest from the date of the filing of suit till its
realization.
4. The defendant had not appeared in the suit inspite of
service of summons. The suit proceeded exparte against defendant.
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5. The following points arise for my determination with my
findings thereon and the reasons to follow :
SR.
NO. POINTS FINDINGS
1 Whether the plaintiff is entitled for
recovery amount of Rs.4,41,108.84/
(Rupees Four Lakhs Forty One Thousand
One Hundred Eight and Paise Eighty
Four only) as on 03.05.2019 with further
interest at the rate of 9.70% per annum
overdue with monthly rests plus 2%
Penal Interest from the date of the filing
of suit till its realization.
'In Affirmative'
2 What order and decree? As per final order below.
REASONS
AS TO POINT NO. 1:
6. Heard learned Advocate Ms. Shraddha Agarwal for the
plaintiff.
7. The plaintiff in support of its case had examined Rajani S.
Bordawekar, Manger of the Plaintiff Bank at Exh. 06. The plaintiff had
relied upon following documents (Exh.07):
Sr.
No.
Particulars Date Exh.
1 Copy of Power of Attorney 29.11.2011 8 colly
2 Original Loan Application 02.12.2015 9 colly
3 Original Sanction Memorandum 02.12.2015 10
4 Original Certificate of Loan Papers
obtained
02.12.2015 11
5 Original Letter Evidencing Execution of
document
02.12.2015 12
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6 Original Letter of Undertaking re
Loans/Advances
02.12.2015 13 colly
7 Original particulars of
Vehicles/Machinery/Equipment/
Livestock
10.12.2015 14
8 Original Deed of Hypothecation 02.12.2015 15 colly
9 Original Acknowledgement of Debt and
Security
19.05.2018 16 colly
10 Office copy of legal notice and postal
receipt
16.07.2018 17 colly
11 Original Statement of Account 18 colly
12 Particulars of Plaintiff's claim against
defendant
8. The loan application Exh.9 colly shows the request is made
by the defendant to the plaintiff. The defendant desired loan for
purchase of Hyundai I 10 D Lite Taxi . The loan was sanctioned by the
plaintiff. The defendant had executed the following documents:
a) Certificate of Loan Papers obtained on Form 482 dated
02.12.2015
b) Letter Evidencing Execution of Documents on Form NF 803
dated 02.12.2015.
c) Letter of Undertaking re:Loans/Advances on Form NF
721/IL(50)012014 dated 02.12.2015.
d) Particulars of Vehicles/Machinery/Equipment/Livestock etc.,
Hypothecated on From NF373 executed by the defendant dated
10.12.2015.
e) Deed of Hypothecation Re: Vehicle on Form NF 722/IL
(25)/201508 dated 02.12.2015 executed by defendant hereby agreed
to hypothecate the said vehicle in favour of the plaintiff.
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f) Acknowledgement of Debt and Security on Form NF
760/2L(50)/122017 dated 19.05.2018 executed by defendant in
favour of the plaintiff for an amount of Rs.3,72,636/ as on 03.05.2018.
9. The evidence of the witness for the plaintiff shows that
amount of Rs.3,85,000/were deposited in the account of the plaintiff
bearing No. 0237768000088. The evidence further shows that the loan
was to be paid by the defendant in 60 installments with rate of interest
at the rate of 9.70% p.a. The evidence also shows that the defendant
had not repaid back the money to the plaintiff. The evidence of the
plaintiff's witness Rajani S. Bordawekar have gone unchallenged.
The plaintiff had successfully shown that the defendant
had received the loan amount of Rs.3,85,000/. The defendant had
accordingly executed the documents in favour of the plaintiff. The
plaintiff has proves that defendant had failed to repay the loan amount.
The plaintiff also had issued the notice dated 16.07.2018
Exh.17colly to the defendant calling upon him to repay the loan
amount.
The defendant had not appeared in the suit inspite of
service of summons. The non appearance of the defendant in the suit
goes to suggest that he implidely admits the claim of the plaintiff and
also implidely suggest that he has no contention to the allegation made
by the plaintiff in the suit. The plaintiff had successfully shown the
disbursement of loan and failure on the part of the defendant to repay
the loan amount.
The plaintiff bank is entitled to recover the amount of
Rs.4,41,108.84/ with interest at the rate 9.70% per annum. The
plaintiff further is entitled to recover the interest at the rate of 9.70 p.a.
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on the principal amount of Rs.3,85,000/ (Rupees Three Lakhs Eighty
Five Thousand Only) from the date of filing of suit till its realization.
Hence, I answered point No. 1 “in Affirmative.” In the
result, following order is passed.
ORDER
1. Suit is decreed with costs.
2. The defendant is directed to pay to the plaintiff a sum of
Rs.4,41,108.84/(Rupees Four Lakhs Forty One Thousand One
Hundred and Eight Paise Eighty Four Only) with interest at the rate
9.70% per annum on the principal amount of Rs.3,85,000/ (Rupees
Three Lakhs Eighty Five Thousand Only) from the date of filing of
suit till its realization.
3. Decree be drawn up accordingly.
(SANJAY N. YADAV)
Additional Sessions Judge
Date: 08.03.2021 Gr.Bombay at Mumbai.
Dictated on : 08.03.2021
Transcribed on : 10.03.2021
Signed by H.H.J.on : 11.03.2021
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
11.03.2021 at 4.30 p.m.
UPLOAD DATE AND TIME
(Mrs. K.S.Bhosale)
NAME OF STENOGRAPHER
Name of the Judge HHJ SHRI S.N.Yadav
(COURT ROOM NO.32)
Date of pronouncement of
judgment/order
08.03.2021
Judgment/order signed by P.O. on 11.03.2021
Judgment/order uploaded on 11.03.2021
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